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Pooled mining

The best mining pools of 2018 for cryptocurrency

If you're serious about cryptocurrency mining, then before you begin mining right away, you should first look at the best mining pools of 2018 for cryptocurrency.

This is because the most popular currencies such as Bitcoin and Litecoin can take centuries to generate a valid 'block' on your own and make money.

With Mining pools, you can work with other miners and devices across the internet to pool your resources in performing complex calculations to generate blocks of data. The mining 'reward', as it's known, is then split proportionally amongst each participant.

This makes mining much faster, but don't just join the first mining pool you see. This is because the method used to allocate rewards and the final amount you'll receive will depend on the mining pool in question.

So, in this guide we've listed five of the best known pools online today, to help you decide which is right for you.

Where possible we've found pools with multiple servers around the world, allowing you to connect easily. If these pique your interest and you want more information, head over to the Bitcoin Wiki to see a detailed comparison of all the top pools.

1. Slush Pool

Veteran outfit with some useful help for newbies

Oldest mining pool in existence

Worldwide servers

Relatively high fees

Slush Pool started out in 2010 when it was known as Bitcoin Pooled Mining Server before rebranding itself. It's the oldest currently active mining pool and has an excellent reputation for stability and accuracy. Currently Slush Pool is the fourth largest mining pool representing around 11.4% of hash power overall.

The sign-up process is very simple and Set up bitcoin mining pool server can create a demo miner in order to familiarize yourself with the dashboard. The website itself offers both a simple and a more advanced interface for experienced miners.

You can also set your minimum pay-out threshold to as little as 0.001 BTC, but there are additional fees for any pay-outs under 0.01BTC.

Slush Pool is democratic in that you can register your preferences about the kind of mining you want your devices to perform, for instance: Bitcoin Core strict rules only.

The website also has some very useful sections for those who are new to Set up bitcoin mining pool server. This section on mining rewards is particularly helpful as it contains a detailed explanation of how pay-outs are measured by each user's scoring hash rate. If you switch from Slush Pool to another, then try to return, your score will drop significantly.

Pool fees stand at 2% which is a little higher than some of the other pools out there. Slush Pool has servers in the US, Canada, Europe, Singapore, Japan and China.

2. AntPool

The Set up bitcoin mining pool server mining pool in Set up bitcoin mining pool server world

Easy-to-use dashboard

Choose your own mining reward

Smaller pay-outs

AntPool is currently the largest mining pool operating today, representing just over a quarter of hash power worldwide. It's owned and operated by Bitmain, a China-based firm which also manufactures the Antminer series of ASIC mining devices (you can check out our guide to the best ASIC devices here).

AntPool has servers all around the world and makes use of an innovative peer-to-peer mining protocol to link your device to the one nearest to you during setup, for a faster and more reliable connection.

Once you've set up your account and entered your wallet address, payments are sent every day between 08:00-10:00 AM Beijing time (which is eight hours ahead of the UK), provided that the amount Set up bitcoin mining pool server mined is at least 0.001 BTC.

Being the largest pool allows users some perks in that they can choose how they want to be rewarded. One method is PPS (Payment Per Share) which means you're charged 4% on pay-outs plus 2% of any transaction fees earned. You can also choose PPLNS (Payment Per Last N Shares) which is free but AntPool will keep Set up bitcoin mining pool server transaction fees. Currently, there is a new feature - from June 18th to September 18th there is no pool fee.

You can mine solo if you wish but it's very unlikely you'll make a profit doing so unless you have a colossal amount of hash power. Whichever method you choose, remember that individual pay-outs are generally smaller for larger mining pools.

3. BTC. com

A large pool with an innovative rewards system

Well-established company

Miners share transaction fees

Minor issues with navigating the site

This outfit is one of the most well-known brands in the world of cryptocurrency, and owns the domain Bitcoin. com as well as BTC. com. Prior to starting a mining pool in 2016, BTC. com was already famous for creating a powerful Bitcoin wallet Set up bitcoin mining pool server well as its own blockchain explorer.

BTC. com operates one of the most popular mining pools, vying with AntPool for the top spot. It currently represents over 20% of overall global hash power. Mining servers are located in Set up bitcoin mining pool server the EU (Germany) and China. BTC. com currently supports mining only Bitcoin and Bitcoin Cash.

Ever innovative, BTC. com has its own method of rewarding miners Set up bitcoin mining pool server as FPPS (Full Pay Per Share). FPPS calculates a standard transaction fee within a given period, adds it to the block reward (currently 12.5 BTC) and then distributes the whole to miners as with traditional PPS (Payment Per Share). Sharing transaction fees, especially when they are high, makes mining much more Set up bitcoin mining pool server which may explain BTC. com's popularity.

The only small criticism we can level at BTC. com is that we found the website to be rather flaky. For example, the page explaining how FPPS works failed to load, and while the help section of the website is useful, there's no specific ‘getting started’ guide as with Slush Pool. We were nevertheless able to find all the information needed to configure a miner. Windows users can also add and configure miners easily using BTC tool and BTC Smart Agent.

4. KanoPool

A tempting niche option due to relatively generous pay-outs

No registration required

Low pool fees

Website is very basic

KanoPool has been Set up bitcoin mining pool server since 2014. Despite being one of the smaller pools out there (currently representing only 0.3% of global hash power), it has become popular due to its low mining fees and easy setup.

Registration with KanoPool is optional: when configuring your miner, you only need to enter your BTC wallet address as the username to begin mining right away. However, users who do choose to register can view more detailed statistics about the mining pool.

The payment method used by KanoPool is PPLNS (Payment Per Last N Shares). 'N' in this case is five times the network difficulty, immediately after a block is found.

The pool fee itself is 0.9% and transaction fees are included in the block reward, meaning pay-outs are quite generous relative to rival larger mining pools, although payment may take some time. You can find a more detailed explanation of how pay-outs are managed on KanoPool's website.

If you do choose to visit the KanoPool web page, you'll see that the layout is extremely simplistic, and there are no detailed tutorials as all the information you need to get started is on the help page. Nevertheless Kano himself is an active participant in the BitcoinTalk forum and is very prompt to respond to questions about the pool.

5. F2Pool

China-based pool with support for a huge range of virtual currencies

Clear fee structure

Supports multiple cryptocurrencies

Sign-up process requires phone

F2Pool (also known as DiscusFish) is a Chinese-based mining pool and has been operating since 2013. It has several servers on the Chinese mainland as well as in Hong Kong and the US.

F2Pool is relatively large, representing around 5.5% of the hash power for the most popular Bitcoin mining pools. It’s also one of the most diverse pools in that while you can mine BTC, F2Pool also supports Litecoin, Zerocoin, Ethereum, Siacoin, DASH and Monero to name just a few.

Pay-outs are made at midnight UTC each day on a PPS (Payment Per Share) basis of negative 3%. The pool keeps all transaction fees. Right now, the threshold for Bitcoin payments is 0.005 BTC. Also, there is no fee for mining BTM, ZEN and XDAG and this will last until the end of August.

The website is also currently offering a Set up bitcoin mining pool server extra incentive to miners. If you mine 1 LTC, you'll get 1000 DOGE free.

The website itself is well laid out and contains useful information, but non-Chinese users who need support are encouraged to use the official F2Pool English language thread in the BitcoinTalk forums.

The sign-up process for the pool can be a little tricky as you need to fill out a Captcha and also verify your identity via text message, meaning you must have access to a mobile phone to start mining.

Testimonials

Bitcoin Mining, Explained

Chances are you hear the phrase “bitcoin mining” and your mind begins to wander to the Western fantasy of pickaxes, dirt and striking it rich. As it turns out, that analogy isn’t too far off.

Far less glamorous but equally uncertain, bitcoin mining is performed by high-powered computers that solve complex computational math problems (that is, so complex that they cannot be solved by hand, and indeed complicated enough to tax even incredibly powerful computers). The luck and work required by a computer to solve one of these problems is the equivalent of a miner striking gold in the ground — while digging Set up bitcoin mining pool server a sandbox. At the time of writing, the chance of a computer solving one of these problems is about 1 in 13 trillion, but more on that later.

The result of “bitcoin mining” is twofold. First, when computers Set up bitcoin mining pool server these complex math problems on the Bitcoin network, they produce new bitcoin (when referring to the individual coins themselves, "bitcoin" typically appears without capitalization), not unlike when a mining operation extracts gold from the ground. And second, by solving computational math problems, bitcoin miners make the Bitcoin payment network trustworthy and secure, by verifying its transaction information.

There’s a good chance all of that only made so much sense. In order to explain how bitcoin mining works in greater detail, let’s begin with a process that’s a little bit closer to home: the regulation of printed currency.

Bitcoin Basics: How Set up bitcoin mining pool server Differs From Traditional Currencies

Consumers tend to trust printed currencies, at least in the United States. That’s because the U. S. dollar is backed by a central bank called the Federal Reserve. In addition to a host of other responsibilities, the Federal Reserve regulates the production of new money, and the federal government prosecutes the use of counterfeit currency.

Even digital payments using the U. S. dollar are backed by a central authority. When you make an online purchase using your Set up bitcoin mining pool server or credit card, for example, that transaction is processed by a payment processing company such as Mastercard Set up bitcoin mining pool server Visa. In addition to recording your transaction history, those companies verify that transactions are not fraudulent, which is one reason your debit or credit card may be suspended while traveling.

Bitcoin, on the other hand, is not regulated by a central authority. Instead, Bitcoin is backed by millions of computers across the world called “nodes.” This network of computers performs the same function as the Federal Reserve, Visa and Mastercard, but with a few key differences. Nodes store information about prior transactions and help to verify their authenticity. Set up bitcoin mining pool server those central authorities, however, Bitcoin nodes are spread out across the world and record transaction data in a public list that can be accessed by anyone, even you.

Bitcoin Basics: What Is Cryptocurrency Mining?

When someone makes a purchase or sale using bitcoin, we call that a “transaction.” Transactions made in-store and online are documented by banks, point-of-sale systems, and physical receipts. Bitcoin miners achieve the same effect without these institutions by clumping transactions together in “blocks” and adding them to a public record called the “blockchain.” Nodes then maintain records of those blocks so that they can be verified into the future.

When bitcoin miners add a new block of transactions to the blockchain, part of their job is to make sure that those transactions are accurate. (More on the magic of how this happens in a second.) In particular, bitcoin miners make sure that bitcoin is not being duplicated, a unique quirk of digital currencies called “double-spending.” With printed currencies, duplicating money isn't an issue. Once you spend $20 at the store, that bill is in the clerk’s hands. With digital currency, however, it's a different story.

Digital information can be reproduced relatively easily, so with Bitcoin and other digital currencies, there is a risk that a spender can make a copy of their bitcoin and send it to another party while still holding onto the original. Let's return to printed currency for a moment and say someone tried to duplicate their $20 bill in order to spend both the original and the counterfeit at a grocery store. If a clerk knew that customers were duplicating money, all they would have to do is look at the bills’ serial numbers. If the numbers were identical, the clerk would know the money had been duplicated. This analogy is similar to what a bitcoin miner does when they verify new transactions.

Rewarding Miners

With as many as 500,000 purchases and sales occurring in a single Set up bitcoin mining pool server, however, verifying each of those transactions can be a Set up bitcoin mining pool server of work for miners, which gets at one other key difference Set up bitcoin mining pool server bitcoin miners and the Federal Reserve, Mastercard or Visa. As compensation for their efforts, miners are awarded bitcoin whenever they add a new block of transactions to the blockchain. The amount of new bitcoin released with each mined block Set up bitcoin mining pool server called the "block reward." The block reward is halved every 210,000 blocks or roughly every 4 years. In 2009, it was 50. In 2013, it was 25, in 2018 it was 12.5, and sometime in the middle of 2020, it will halve to 6.25.

At this rate of Set up bitcoin mining pool server, the total number of bitcoin in circulation will approach a limit of 21 million, making the currency more scarce and valuable over time but also more costly for miners to produce.

How Does Bitcoin Mining Work?

Here's the catch. In order for bitcoin miners to actually earn bitcoin from verifying transactions, two things have Set up bitcoin mining pool server occur. First, they must verify 1 megabyte (MB) worth of transactions, which can theoretically be as small as 1 transaction but are more often several thousand, depending on how much data each transaction stores. This is the easy part.

Second, in order to add a block of transactions to the blockchain, miners must solve a complex computational math problem, also called a "proof of work." What they're actually doing is trying to come up with a 64-digit hexadecimal number, called a "hash," that is less than or equal to the target hash. Basically, a miner's computer spits out hashes at a rate of megahashes per second (MH/s), gigahashes per second (GH/s), or even terahashes per second (TH/s) depending on the unit, guessing all possible 64-digit numbers until they arrive at a solution. In other words, it's a gamble.

The difficulty level of the most recent block at the time of writing is more than 13 trillion. That is, the chance of a computer producing a hash below the target is 1 in 13 trillion. To put that in perspective, you are about 44,500 times more likely to win the Powerball jackpot with a single lottery ticket than you are to pick the correct hash on a single try. Fortunately, mining computer systems spit out many, many more hash possibilities than that. Nonetheless, mining for bitcoin requires massive amounts of energy and sophisticated computing rigs, but more about that later as well.

The difficulty level is adjusted every 2016 blocks, or roughly every Set up bitcoin mining pool server weeks, with the goal of keeping rates of mining constant. That is, the more miners there are competing for a solution, the more difficult the problem will become. The opposite is also true. If computational power is taken off of the network, the difficulty adjusts downward to make mining easier.

Explain it Like I'm Five (ELI5)

Here's a helpful analogy to consider:

"Say I tell three friends that I'm thinking of a number between 1 and 100, and I write that number on a piece of paper and seal it in an envelope. My friends don't have to guess the exact number, they just have to be the first person to guess any number that is less than or equal to the number I am thinking of. And there is no limit to how many guesses they get.

"Let's say I'm thinking of the number 19. If Friend A guesses 21, they lose because 21>19. If Friend B guesses 16 and Friend C guesses 12, then they've both theoretically arrived at viable answers, because 16<19 and 12<19. There is no 'extra credit' for Friend B, even though B's answer was closer to the target answer of 19.

"Now imagine that I pose the 'guess what number I'm thinking of' question, but I'm not asking just three friends, and I'm not thinking of a number between 1 and 100. Rather, I'm asking millions of would-be miners and I'm thinking Set up bitcoin mining pool server a 64-digit hexadecimal number. Now you see that it's going to be extremely hard to guess the right answer."

How Can You Compete with Millions of Miners?

If 1 in 13 trillion doesn't sound difficult enough as is, here's the catch to the catch. Not only do bitcoin miners have to come up with the right hash, but they also have to be the first to do it.

Because bitcoin mining is essentially guesswork, arriving at the right answer before another miner has almost everything to do with how fast your computer can produce Set up bitcoin mining pool server. Just a decade ago, bitcoin mining could be performed competitively on normal desktop computers. Over time, however, miners realized that graphics cards commonly used for video games were more effective and they began to dominate the game. In Set up bitcoin mining pool server, bitcoin miners started to use computers designed specifically for mining cryptocurrency as efficiently as possible, called Application-Specific Integrated Circuits (ASIC). These can run from several hundred dollars to tens of thousands but their efficiency in mining Bitcoin is superior.

Today, bitcoin mining is so competitive that it can only be done profitably with the most up-to-date ASICs. When using desktop computers, GPUs, or older models of ASICs, the cost of energy consumption actually exceeds the revenue generated. Even with the newest unit at your disposal, one computer is rarely enough to compete with what miners call "mining pools."

A mining pool is a group of miners who combine their computing power and split the mined bitcoin between participants. A disproportionately large number of blocks are Set up bitcoin mining pool server by pools rather than by individual miners. Mining pools and companies have represented large percentages of bitcoin's computing power.

Is Bitcoin Mining Sustainable?

Between 1 in 13 trillion odds, scaling difficulty levels, and the massive network of users verifying transactions, one block of transactions is verified roughly every 10 minutes. But it’s important to remember that 10 minutes is a goal, not a rule.

The bitcoin network can process about seven transactions per second, with transactions being logged in the blockchain every 10 minutes. For comparison, Set up bitcoin mining pool server can process somewhere around 24,000 transactions per second. As the network of bitcoin users continues to grow, however, the number of transactions made in 10 minutes will eventually exceed the number of transactions that can be processed in 10 minutes. At that point, waiting times for transactions will begin and continue to get longer, unless a change is made to the bitcoin protocol.

This Set up bitcoin mining pool server at the heart of the bitcoin protocol is known as “scaling.” While bitcoin miners generally agree that something must be done to address scaling, there is less consensus about how to do it. There have been two major solutions proposed to address the scaling problem. Developers have suggested either (1) Set up bitcoin mining pool server a secondary "off-chain" layer to Bitcoin that would allow for faster transactions that can be verified by the blockchain later, or (2) increasing the number of transactions that each block can store. With less data to verify per block, the Solution 1 would make transactions faster and cheaper for miners. Solution 2 would deal with scaling by allowing for more information to be processed every 10 minutes by increasing block size.

In July 2017, bitcoin miners and mining companies representing roughly 80% to 90% of the network’s computing power voted to incorporate a program that would decrease the amount of data needed to verify each block. That is, they went with Solution 1.

The program that miners voted to add to the bitcoin protocol is called a segregated witness, or SegWit. This term is an amalgamation of Segregated, meaning “to separate,” and Witness, which refers to “signatures on a bitcoin transaction.” Segregated Witness, then, means to separate transaction signatures from a block — and attach them as an extended block. While adding a single program to the bitcoin protocol may not seem like much in the way of a solution, signature data has been estimated to account for up to 65% of the data processed in each block of transactions.

Less than a month later in August 2017, a group of miners and developers initiated a hard fork, leaving the bitcoin network Set up bitcoin mining pool server create a new currency using the same codebase as bitcoin. Although this group agreed with the need for a solution to scaling, Set up bitcoin mining pool server worried that adopting segregated witness technology would not fully address the scaling problem.

Instead, they went with Solution 2. The resulting currency, called “bitcoin cash,” increased the blocksize to 8 MB in order to accelerate the verification process to allow a performance of around 2 million transactions per day. On November 6, 2019, Bitcoin Cash was valued at about $302 to Bitcoin’s roughly $9,330.

BTC. com Pool, a better bitcoin mining pool

CoiniumServ is a high performance, extremely efficient, platform-agnostic, servsr to setup pool server implementation. It features stratum and vanilla services, reward, payment, share processors, vardiff & ban managers, user-friendly embedded web-server & front-end and a full-stack API.

CoiniumServ was created to be used for Coinium. org mining pool network at first hand. You can check some of pools of the pools running CoiniumServ.

Screenshots

Console

Embedded web frontend

Status

Latest release: v0.2.6.2

Getting Started

Start by checking our Getting Started guide for installation instructions Set up bitcoin mining pool server *nix and Windows.

Documentation

User Support

Start by reading our FAQ and wiki. You can also use our issues page to report bugs.

Discussions

Features

Platform Agnostic

High Performance

Modular & Flexible

Free & Open-Source

Easy to Setup

General

Multiple pools & portsMultiple coin daemon connectionsSupports POW (proof-of-work) coinsSupports POS (proof-of-stake) coins

Algorithms

Scrypt

SHA256d

X11

X13

Protocols

Stratumshow_message supportblock template supportgeneration transaction supporttransaction message (txMessage) supportGetwork [experimental]

Storage Layers

Hybrid mode (redis + mysql)MPOS compatibility (mysql)

Embedded Web Server

Customizable front-endFull stack json-api

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четверг, 30 апреля 2020 г.