Not known Facts About Understanding Bitcoin Mining
This payment method guarantees payments and leaves the miners with hardly any risk of not being paid for their contribution. The downside of this scheme is the high fees the pool owners charge, to mitigate the risk they take by paying frequently.
Proportional: Just like in PPS, miners submit stocks along the block finding period. The more hashing energy you have and the longer you mined to your cube, the more stocks you submitted. Once a block is found, the pool cover the miners according to the amount of shares they obtained.
But in this payment method, the value that you will get for each share will equal the block rewards divided by the entire number of shares filed by all miner. This means that the further miners that join the pool, the lower the value of every share you recieve.
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Score-based: This payment method was designed to prevent miners from pool-hopping. Your mining period and hashing electricity are calculated into a scoring hash speed score. The longer you remain on the pool, the higher your score is and the higher the value of the  stocks you get. Once you stop mining, your score gets smaller and the value of your shares drop accordingly.
Pay per standard N Stocks (PPLNS): In PPLNS, miners only get paid for stocks received during a predefined window that ends in the block solving. Unlike other payment schemes, shares received out the window will not be rewarded in any way. This window can be defined as a time frame (uncommon), or with a certain number (N) that represents the last shares received up into the block solving. .
For example, if N equals 1 Billion, once a block is found only the last 1 Billion shares will likely be rewarded. While not defined anywhere explicitly, N is generally set as a multiple of the mining pool difficulty using a constant, typically two.
For this reason, PPLNS can be called Pay per Luck Shares. When implemented properly, miners cant predict the right time to join, so that they can either get greater rewards when they got to receive more stocks within the previous N stocks, or get no reward at all when they didnt.
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Announced in 2010, SlushPool was the very first Bitcoin mining pool and undoubtedly led the way for many other mining pools to come. Founded by SatoshiLabs current CEO Marek Palatinus (aka Slush), its located in the Czech Republic and follows a score-based system to dissuade pool-hopping.
This is a medium-large sized pool. SlushPool asserts a 2% fee from each block solving benefit. SlushPools dashboard is quite user friendly and gives excellent detail with routine upgrades. While informative post it might not be my website the biggest of the Bitcoin mining pools, its certainly considered one of the best.
Antpool is a Chinese Bitcoin mining pool operated by Bitmain Technologies. It is moderate in size. One advantage Antpool has is that you can choose between PPLNS (0% fee) and PPS+ (2% fee), each of which have their own advantages.
In regard to payments, theyre made once per day if the amount exceeds 0.001 Bitcoin. Those new to Bitcoin mining will appreciate the clean interface. The dashboard clearly displays earnings and hashrates. Additionally, there are a variety of security options, including two-factor authentication, email alerts, and wallet locks.
Known for their wallet and their own blockchain explorer, BTC.com have been around for some time, before opening a pool in 2016. Owned by Bitmain Tech, BTC.com is your largest pool around, in the time of writing. BTC.com possess their own payment system, FPPS, which similar to PPS+ include TX fees in the payouts, along with the block reward.
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F2Pool is a medium-large pool established in 2013. Operating a PPS+ reward program, F2Pool takes a 2.5% commission, which is somewhat on the high side.
Also known as KanoPool, Kano CKPool was founded in 2014. This small Bitcoin mining pool provides PPLNS payment model, charging a 0.9% commission.
With respect to payout, per each block found you will need to wait +101 block confirmations to get paid, which might take some time.
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This is a relatively straightforward pool with an interface which could do with an upgrade as its not the most user friendly. It doesnt have much in the way of features, but it does possess two-factor authentication for an additional layer of safety.