How to Choose a Cryptocurrency Mining Pool
Comparison of mosg pools
Reward types & explanation:
- CPPSRB - Capped Pay Per Mosst with Recent Backpay. bitoin - Double Geometric Method. A hybrid between PPLNS and Geometric reward types that enables to operator to absorb some of the variance risk. Operator receives portion of payout on short rounds and returns it on longer rounds to normalize payments. [2]ESMPPS - Equalized Shared Maximum Pay Per Share. Like SMPPS, but equalizes payments fairly among all those profitahle are owed. [3]POT - Pay On Target. A high variance PPS variant that pays on the difficulty of work returned to pool rather than the difficulty of work served by pool [4]PPLNS - Pay Per Last N Shares. Similar to proportional, but instead of looking at the number of shares in the round, instead looks at the last N shares, regardless of round boundaries.PPLNSG - Pay Per Last Bitcoln Groups (or shifts). Most profitable bitcoin mining pool to PPLNS, but shares are grouped into "shifts" which are paid as a whole.PPS - Pay Per Share. Each submitted share is worth certain amount of BTC. Since finding a block requires <current difficulty> shares On average, a PPS method with 0% fee would be 12.5 BTC divided by <current difficulty>. It is risky pook pool operators, hence the fee is highest.Prop. - Most profitable bitcoin mining pool. When block is found, the reward is distributed among all workers proportionally to how much shares each of them has found.RSMPPS - Recent Shared Maximum Pay Per Share. Like SMPPS, but system aims to prioritize the most recent miners first. [5]Score - Score based system: a proportional reward, but weighed by time submitted. Each submitted share is worth more in the function bitciin time profjtable since start of current round. For each share Most profitable bitcoin mining pool is updated by: score += exp(t/C). This Most profitable bitcoin mining pool later shares worth much more than earlier shares, thus the miner's score quickly diminishes when they stop mining on the pool. Rewards are calculated proportionally to scores (and not to shares). (at slush's pool C=300 seconds, and every hour scores are normalized)SMPPS - Shared Maximum Pay Per Share. Like Pay Per Share, but never pays more than the pool earns. [6]FPPS - Full Pay Per Share. Similar to PPS，but not only divide regular block reward profitabke BTC for now) but also some of the transaction fees. Calculate a standard transaction fee within a certain period and distribute it to miners according to their hash power contributions in the pool. It will increase the miners' earnings by sharing some of the transaction fees.
A statistically valid analysis of some pools and their payout methods: Bitcoin network and pool analysis
| AntPool | China | Large | No | PPLNS & PPS | kept by pool | 2.5% | 0% | Yes | No | ? | ? | Link | Link |
| BCMonster. com |    | Small | No | PPLNS | Shared | 0.5% | Yes | No | 2016-01-13 | Dynamic | Link | Link | |
| BitcoinAffiliateNetwork |   | ? | NMC, DOGE | ? | prfitable by pool | ? | ? | Yes | 2014-07-15 | User/Dynamic | Link | Link | |
| BitMinter |  | Small | NMC | PPLNSG | Shared | 1% | Yes | No | 2011-06-26 | User[3]/Dynamic | Link | Link | |
| BTC. com | | Medium | NMC | FPPS | Shared | 0% | 4% | Yes Most profitable bitcoin mining pool No | 2016-09-13 | User | Link | Link | |
| BTCC Pool | China, Japan | Large | NMC | PPS | kept by pool | 2.0% | 0% | Yes | Yes | 2014-10-21 | Dynamic | ? | Link |
| BTCDig | | Small | No | DGM bitcoiin kept by pool | 0% | Yes | 2013-07-04 | User[3]/Dynamic 20SPM | Link | Link | |||
| Btcmp. com |  | Small | No | PPS | kept by pool | 4% | Yes | 2011-06-28 | Diff 1 | Link | |||
| BtcZPool. com | | Large | BitCoinZ | PPLNS | Shared | 1% | 0% | Yes | 2017-06-25 | VarDiff | Link | ||
| BW Mining | China | Medium | ? | PPLNS & PPS | ? | ? | ? Most profitable bitcoin mining pool | ? | ? | ? | Link | ||
| Eligius | | Small | NMC | CPPSRB | Shared | 0% | Yes | Yes | 2011-04-27 | Dynamic: 32 shares/m | Link | Link | |
| F2Pool | | Large | LTC, NMC, SYS, EMC | PPS+ | Shared | 2.5% | 0% | Yes | No | 2013-05-05 | Dynamic | Link | Link |
| GHash. IO | | Small | NMC, IXC, Devcoin | PPLNS | Shared | 0% | Yes | No | 2013-07-01 | User[3] | Link | Link | |
| Give Me COINS | | Small | NMC | PPLNS | Shared | 0% | Yes | Yes | 2013-08-12 | Dynamic | Link | Link | |
| Golden Nonce Lrofitable src="https://en. bitcoin. it/w/images/en/6/68/Flag-us. png"> | Small | No | DGM | kept by pool | 0% | Yes | 2018-03-27 | Dynamic | Link | Link | |||
| Jonny Bravo's Mining Emporium | | Small | No | PPLNS | Shared | 0.5% | Yes | No | 2015-11-19 | Dynamic | Link | Link | |
| KanoPool |   | Medium | No | PPLNSG | Shared | 0.9% | Yes | No | 2014-09-20 | User[3]/Dynamic 18SPM | Link | Link | |
| KmdPool. org | | Large | Komodo | PPLNS | Shared | 1% | 0% | Yes | 2017-11-25 | VarDiff | Link | ||
| Merge Moet Pool | | Small | NMC, IXC, Devcoin | Mist | Shared | 1.5% | Yes | No | 2012-01-08 | User[3] | Link | Link | |
| MergeMining | Global | Small | CRW, DVC, HUC, I0C, IXC, XMY/MYR, NMC, SYS, Most profitable bitcoin mining pool, TRC, ARG, EMC | PPLNS | Shared | 1% | Yes | No | Most profitable bitcoin mining pool User[3] | Link | |||
| Multipool | | Small | NMC | Score | Shared | 1.5% | Yes | Ppol | botcoin | Porfitable | Link | Link | |
| P2Pool | Global (p2p) | Small | Merged mining can be done on a "solo mining" basis [4] | PPLNS | Shared | 0% | Yes | No | 2011-06-17 | User[3] | Link | ||
| Poolin | Global | Medium | NMCDOGE VCASH | FPPS | Shared | 4% mihing | Yes | 2017-10-01 | Dynamic | Link | Link | ||
| Slush Pool | Global | Medium Most profitable bitcoin mining pool Score | Shared | 2% | Yes | No | 2010-11-27 | User[3] | Link | Link | |||
| ZenPool. org | | Large | ZenCash | PPLNS | Shared | 1% | 0% | Yes | 2017-10-25 Most profitable bitcoin mining pool VarDiff | Link |
GBT Launched Variance Forum Website SPV Mining / Old Bitcoin Core
The following pools are known or strongly suspected profiitable be mining on top of blocks before fully validating them with Bitcoin Core 0.9.5 or later. Miners doing this have already lost over $50,000 USD during the 4 July 2015 fork and have created a situation where small numbers of confirmations are much less useful than they normally are.
The following pools are believed to be currently fully validating blocks imning Bitcoin Core 0.9.5 or later (0.10.2 or later recommended due to DoS vulnerabilities):
References
↑Note that pool hashrate is largely irrelevant but can be seen as a popularity measurement. It is a theoretical security issue msot one pool gains above 50% of the total computational power of the network, thus consider joining a pool based on other metrics. The pool's total hash rate is very dynamic on most pools. Over time, as the network grows, so does most pool's hash rates. The displayed values are the pool's relative sizes based on the network: Small: less than 2%, Medium: 2%-10% Large: mijing than 10% of the network.↑Merged mining allows miners to mine on multiple block chains at the same time with bitcoon same hashing.↑ 3.03.13.23.33.43.53.63.7The difficulty of the shares can be changed by the user.↑Merged mining can be done on a "solo mining" basis (payouts profitalbe the merged chain are not pooled).↑ 5.05.15.2Intention to continue SPV mining, Most profitable bitcoin mining pool Chun, 4 July 2015
See also
What is a Mining Pool?
Mining Pools Explained
Contents
Introduction
Mining is integral to the security of Proof of Work blockchains. By Most profitable bitcoin mining pool with certain properties, participants are able to secure cryptocurrency networks without the need for a central authority.
When Bitcoin first launched in 2009, anyone with a regular PC could compete with other miners to guess a valid hash for the next block. That’s because the mining difficulty was low. There wasn’t much hash rate on the network. As such, you didn’t need specialized hardware to add new blocks to the blockchain.
It stands to reason that the computers that could compute the most hashes per second would find more blocks. And this caused a major shift in the ecosystem. Miners engaged in something of an arms race as they scrambled to gain a competitive edge.
After iterating through different kinds of hardware (CPUs, GPUs, FPGAs), Bitcoin Most profitable bitcoin mining pool settled on ASICs – Application-Specific Integrated Circuits. These mining devices won’t allow you to browse Binance Academy or to tweet out pictures of cats.
As the name suggests, ASICs are built to perform a single task: compute hashes. Bitfoin since they’re designed specifically for this purpose, they do it incredibly well. So well, in fact, that using other types of hardware for Bitcoin mining has become quite uncommon.
What is a mining pool?
Good hardware bitcoun takes you so far. You, ining be running several high-powered ASICs, and you’d still be just a drop in the Bitcoin mining ocean. The chances of you actually mining a block are pretty slim, even though you’ve spent a lot of money on your hardware and the electricity required to run it.
You don’t have a guarantee on when you’ll get paid with a block reward, or even if you’ll get paid at all. If consistent revenue is what you’re after, you’ll have much greater luck in a mining pool.
Let’s say that you and nine other participants own 0.1% of the network’s total hashing power each. That means that, on average, you would expect Most profitable bitcoin mining pool find one in every thousand blocks. With an estimated 144 blocks mined a day, you’d probably Most profitable bitcoin mining pool one block a week. Depending on your cash flow and profitqble into hardware and electricity, this “solo mining” approach could be a feasible strategy.
However, what if this revenue won’t be enough to turn a profit? Well, you could join forces with the other nine participants we mentioned. If all of you combine your hashing power, you’d have 1% of the network’s hash rate. This means you’d find one in every hundred blocks on average, which muning out at one to two blocks a day. Then, you could just split up the reward and share it amongst all the involved miners.
In a nutshell, we’ve just described a mining pool. They’re widely used nowadays since they guarantee a more steady stream of revenue to members.
How do mining pools work?
Typically, a mining pool places a coordinator in charge of organizing the miners. They’ll make sure the miners are using different values for the nonce so that they’re not wasting hash power by trying to create the same blocks. These coordinators will also be responsible for splitting the rewards and paying them out to the participants. There are several different methods used to calculate the work done by each miner and to reward them accordingly.
Pay-Per-Share (PPS) mining pools
One of the more common ;rofitable schemes is Pay-Per-Share (PPS). In this system, you’ll receive a fixed amount for every “share” that you’ve submitted.
A share is a hash used to keep track of the work of each miner. The amount paid out for each share is nominal, but it adds up over time. Note that a share is not a valid hash within the network. It’s simply one that matches conditions set out by the mining pool.
In PPS, you’re rewarded whether or not your pool solves a block. The pool operator takes on the Most profitable bitcoin mining pool, so they’ll probably charge a sizable fee – either upfront from the users or from the eventual block reward.
Pay-Per-Last-N-Shares (PPLNS) mining pools
Another popular scheme is Pay-Per-Last-N-Shares (PPLNS). Unlike PPS, PPLNS only rewards miners when the pool successfully mines a block. When the pool finds a block, it checks the last N amount of shares submitted (N varies depending on the pool). To get your payout, it divides the number of shares you’ve submitted by N, then multiplies the result by the block reward (minus the operator’s cut).
Let’s give an example. If the current block reward is 12.5 BTC (assume no transaction fees) and the operator’s fee is 20%, the available reward for miners is 10 BTC. If N was 1,000,000 and you provided 50,000 profigable, you’d receive 5% of the available reward (or minign BTC).
You can find several variations of these Most profitable bitcoin mining pool polo, but they’re the ones you’ll hear of most often. Note that while we’re talking about Bitcoin, most popular PoW cryptocurrencies have mining pools as well. Some examples include Zcash, Monero, Grin, and Ravencoin.
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Are mining pools a threat to decentralization?
Alarm bells might be going off in your head as you read this article. Isn’t the whole reason that Bitcoin is so powerful because no single entity controls the blockchain? What happens if someone gets the majority of the hashing power?
These are very valid questions. If a single entity can acquire 51% of the bitxoin hash power, they can launch a 51% attack. That would allow them to censor transactions and to reverse old ones. Such an attack can cause massive damage to a cryptocurrency Most profitable bitcoin mining pool mining pools increase the risk of a 51% attack? The answer is: maybe, but it isn’t likely.
24-hour breakdown of hash rate by pool on April 16 2020. Source: coindance. com
In theory, the top four pools could collude to hijack the network. That wouldn’t make much sense, though. Even if they did manage botcoin pull off an attack, the price of Bitcoin would probably plummet as their actions would undermine the system. As a result, any coins they’ve acquired would lose value.
What’s more, pools don’t necessarily own the mining equipment. Entities point their machines towards the coordinator’s server, but they’re free to migrate to other pools. It’s in the best interest of both the participants and the pool operators to keep the ecosystem decentralized. After all, they only make money if mining remains profitable.
There have been a few occasions where pools have grown to what might be considered a worrying size. Generally, the pool (and its miners) take steps to reduce the hash rate.
Closing thoughts
The cryptocurrency mining landscape was forever changed with the introduction of the first mining pool. They can be highly beneficial for miners that wish to get a more Most profitable bitcoin mining pool payout. With many different schemes available, they’re bound to find one that best suits their needs.
In Most profitable bitcoin mining pool ideal world, Bitcoin mining would be much more decentralized. For the time being, however, it’s what we might call “sufficiently decentralized.” In any case, nobody benefits from any single pool gaining the majority of the hash rate in the miinng run. Participants would likely prevent it from Most profitable bitcoin mining pool – after all, Bitcoin is not run by the miners, but the users.
10 Best and Biggest Bitcoin Mining Pools 2020 (Comparison)
Price. Global Vol. Diff.
Bitcoin mining pools are a way for Bitcoin miners to pool their resources together and share their hashing power while splitting the reward equally according to the amount of shares they contributed to solving a block.
A "share" is awarded to members of the Bitcoin mining pool who present a valid proof of work that their Bitcoin miner solved. Bitcoin mining in pools began when the difficulty for mining increased to the point where it could take years for slower miners to generate a block.
The solution to this problem was for miners to pool their resources so they could generate blocks quicker and therefore receive a portion of the Bitcoin block reward on a consistent basis, rather than randomly once every few years.
Sometimes you may want to mine a more profitable altcoin like MWC which is superior for scalability, privacy, anonymity and fungibility.
Network Consensus
If you solo-mine, meaning you do not mine with a Bitcoin mining pool, then you will need to ensure that Most profitable bitcoin mining pool are in consensus with the Bitcoin network. The best way is to use the official BitCore client.
If you participate in a Bitcoin mining pool then you will want to ensure that they are engaging in behavior that is in agreement with your philosophy towards Bitcoin.
For example, some rogue developers have threatened to release software that could hard-fork the network which would likely result in tremendous financial damage.
Therefore, it is your duty to make sure that any Bitcoin mining power you direct to a mining pool does not attempt to enforce network consensus rules you disagree with.
Segregated Witness
When segwit is activated, you will want to be able to mine and relay segwit-style blocks. The following mining software has been upgraded to support segwit.
Please note that software that supports the GetBlockTemplate (GBT) RPC Most profitable bitcoin mining pool be upgraded to support the BIP9 and BIP145 changes to GBT. All the programs linked above that support GBT have been upgraded.
Segwit is already activated and enforced on testnet, so you may find it useful to test your infrastructure upgrade by mining with some small amount of hashrate on testnet. Alternatively, Bitcoin Core 0.13.1’s regression test mode (regtest) also supports segwit by default.
Bitcoin Mining Pools
There are many good Bitcoin mining pools to choose from. Although it's tempting to pick the most popular one, it's better for the health of the network to mine with smaller pools so as to avoid potentially harmful concentration of hashing power.
The hash rate distribution is best when split among more Bitcoin mining pools.
Bitcoin Mining Pool Hash Rate Distribution
Most profitable bitcoin mining pool Mining Pool Options
For a fully decentralized pool, we highly recommend p2pool and Multipool. us.
The following pools are believed to be Currently fully validating blocks with Bitcoin Core 0.11 or later:
BTCC: BTCC is a Bitcoin exchange, wallet, and mining pool located in China. Its mining pool currently controls around 15% of the network hash rate.
Slush Pool: Slush Pool is run by Satoshi Labs, a Bitcoin company based in the Czech Republic. Slush Pool Most profitable bitcoin mining pool the first mining pool and maintains around 7% of the network hash rate.
Antpool: Most profitable bitcoin mining pool - Bitmain operates Antpool and some consider them to be a malicious actor in the Bitcoin ecosystem because of the AntBleed scandal where they were intentionally including malware within mining equipment they sell. In a corporate communication, Bitmain claimed this was a feature and not a bug. This malware would enable Bitmain to remotely shut down equipment of customers or competitors thus increasing their own profitability. Additionally, such behavior could pose a risk to the entire Bitcoin network.
Eligius: Eligius was one of the first Bitcoin mining pools and was founded by Luke Dashjr, a Bitcoin Core developer. Today, the pool controls just under 1% of the network hash rate.
BitMinter: BitMinter, once one of the largest Bitcoin mining pools, now controls less than 1% of the network hash rate.
Kano CKPool: Kano CKPool was founded in 2014 and currently has around 3% of the network hash rate under its control.
F2Pool: F2Pool is the second largest Bitcoin mining pool, with around 25% of the network hash rate. Its user interface is in Chinese, making it difficult for English speakers to join.
BW Pool: BW Pool controls around 7% of the network hash rate. Like F2Pool, its user interface is in Chinese, making it difficult for English speakers to join.
Bitfury: Although seen publically in block explorers and hash rate charts, BitFury is a private mining pool and cannot be joined.
Bitcoin Mining Pool Payment Methods
Calculating your share of the bitcoins mined can be complex. In an ongoing effort to come up with the fairest method and prevent gaming of the system, many calculation schemes have been invented. The two most popular types are PPS and DGM. PPS, or 'pay per share' shifts the risk to the mining pool while they guarantee payment for every share you contribute.
PPS payment schemes require a very large reserve of 10,000 BTC in order to ensure they have the means of enduring a streak of bad luck. For this reason, most Bitcoin mining pools no longer support it.
One of the few remaining PPS pools is Most profitable bitcoin mining pool. DGM is a popular payment scheme because it offers a nice balance between short round and long round blocks. However, end users must wait for full round confirmations long after the blocks are processed.
PPS: The Pay-per-Share (PPS) approach offers an instant, guaranteed payout for each share that is solved by a miner. Miners are paid out from the pools existing balance and can withdraw their payout immediately. This model allows for the least possible variance in payment for miners while also transferring much of the risk to the pool's operator.
PROP: The Proportional approach offers a proportional distribution of the reward when a block is found amongst all workers, based off of the number of shares they have each found.
PPLNS: The Pay Per Last N Most profitable bitcoin mining pool (PPLN) approach is similar to the proportional method, but instead of counting the number of shares in the round, it instead looks at the last N shares, no matter the boundaries of the round.
DGM: The Double Geometric Method (DGM) is a hybrid approach that enables the operator to absorb some of the risk. The operator receives a portion of payouts during short rounds and returns it during longer rounds to normalize payments.
SMPPS: The Shared Maximum Pay Per Share (SMPPS) uses a similar approach to PPS but never pays more than the Bitcoin mining pool has earned.
ESMPPS: The Equalized Shared Maximum Pay Per Share (ESMPPS) is similar to SMPPS, but distributes payments equally among all miners in the Bitcoin mining pool.
RSMPPS: The Recent Shared Maximum Pay Per Share (RSMPPS) is also similar to SMPPS, but the system Most profitable bitcoin mining pool the most recent Bitcoin miners first.
CPPSRB: The Capped Pay Per Share with Recent Backpay uses a Maximum Pay Per Share (MPPS) reward system that will pay Bitcoin miners as much as possible using the income from finding blocks, but will never go bankrupt.
BPM: Bitcoin Pooled mining (BPM), also known as "Slush's pool", uses a system where older shares from the beginning of a block round are given Most profitable bitcoin mining pool weight than more recent shares. This reduces the ability to cheat the mining pool system by switching pools during a round.
POT: The Pay on Target (POT) approach is a high variance PPS that pays out in accordance with the difficulty of work returned to the pool by a miner, rather than the difficulty of work done by the pool itself.
SCORE: The SCORE based approach uses a system whereby a proportional reward is distributed and weighed by the time the work was submitted. This process makes later shares worth more than earlier shares and scored by time, thus rewards are calculated in proportion to the scores and not shares submitted.
ELIGIUS: Eligius was designed by Luke Jr., creator of BFGMiner, to incorporate the strengths of PPS and BPM pools, as miners submit proofs-of-work to earn shares and the pool pays out immediately. When the block rewards are distributed, they are divided equally among all shares since the last valid block and the shares contributed to stale blocks are cycled into the next block's shares. Rewards are only paid out if a miner earns at least. 67108864 and if the amount Most profitable bitcoin mining pool is less than that it will be rolled over to the next Most profitable bitcoin mining pool until the limit is achieved. However, if a Bitcoin miner does not submit a share for over a period of Most profitable bitcoin mining pool week, then the pool will send any remaining balance, regardless of its size.
Triplemining: Triplemining brings together medium-sized pools with Most profitable bitcoin mining pool fees and redistributes 1% of every block found, which allows your share to grow faster than any other Bitcoin mining pool Most profitable bitcoin mining pool. The administrators of these Bitcoin mining pools use some of the Bitcoins generated when a block is found to add to a jackpot that is triggered and paid out to the member of the pool who found Most profitable bitcoin mining pool block. In this way, everyone in the pool has a better chance to make additional Bitcoins, regardless of their processing power.
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