What is a bitcoin mining pool. Top 11 Best Bitcoin (BTC) Mining Pools List – Changelly. Top 5 Bitcoin Mining Pools
Mining Pools Explained
Comparison of mining pools
Reward types & explanation:
- CPPSRB - Capped, ining Per Share with Recent Backpay. [1]DGM - 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 ls fairly among all those who are owed. [3]POT - Pay On Whay. 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 What is a bitcoin mining pool round, instead What is a bitcoin mining pool at the last N shares, regardless of round boundaries.PPLNSG - Pay Per Last N Groups (or shifts). Similar 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 for pool operators, hence the fee is highest.Prop. - Proportional. 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 of time T since start of current round. For each share score is updated by: score += exp(t/C). This makes 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 - Mjning Maximum Pay Per Share. Like Pay Per Share, but never pays more than the pool earns. [6]FPPS What is a bitcoin mining pool Full Pay Per Share. Similar to PPS，but not only divide regular block reward (12.5 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 bitvoin 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 | ? | kept by pool | ? | ? | Yes | 2014-07-15 | User/Dynamic | Link | Link | ||||||||||
| BitMinter |  | Small | NMC | PPLNSG | Shared | 1% | Yes bitcoinn No | 2011-06-26 | User[3]/Dynamic | Link | Link | |||||||||||
| BTC. com | | Medium | NMC | FPPS | Shared | 0% | 4% | Yes | 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 | kept by pool | 0% | Yes | 2013-07-04 | User[3]/Dynamic 20SPM | Link | Link | |||||||||||
| Btcmp. com |  | Small | No | PPS | What is a bitcoin mining pool 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 | What is a bitcoin mining pool | Medium | ? | PPLNS & PPS | ? | ? | ? | Yes | ? | ? | ? | 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 iss src="https://en. bitcoin. it/w/images/en/8/83/Flag-nl. png"> | 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 Pool | | Small | No What is a bitcoin mining pool 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 Mining What is a bitcoin mining pool src="https://en. bitcoin. it/w/images/en/6/68/Flag-us. png"> | Small | NMC, IXC, Devcoin | DGM | Shared | 1.5% | Yes | No | 2012-01-08 | User[3] | Link | Link | |||||||||||
| MergeMining | Global | Small | CRW, DVC, HUC, I0C, IXC, XMY/MYR, NMC, SYS, UNO, TRC, ARG, EMC | PPLNS | Shared | 1% | Yes | No | 2016-12-01 | User[3] | Link | |||||||||||
| Multipool | | Small | NMC | Score | Shared | 1.5% | Yes | No | 2012-03-15 | User | Link | Link | ||||||||||
| P2Pool | Global (p2p) | Small | Merged mining can be done on What is a bitcoin mining pool "solo mining" basis [4] | PPLNS | Shared | 0% | Yes | No | 2011-06-17 | User[3] | Link | |||||||||||
| Poolin | Global | Medium | NMCDOGE VCASH | FPPS | Shared | 4% | Yes | Yes | 2017-10-01 | Dynamic | Link | Link | ||||||||||
| Slush Pool | Global | Medium | NMC | Score | Shared | 2% | Yes | No | 2010-11-27 | User[3] | Link | Link | ||||||||||
| ZenPool. org | | Large | ZenCash | PPLNS | Shared | 1% | 0% | Yes | 2017-10-25 | VarDiff | Link |
GBT Launched Variance Forum Website SPV Mining / Old Bitcoin Core
The following pools are known whhat strongly suspected to be mining on top of blocks before What is a bitcoin mining pool validating them with Bitcoin Core 0.9.5 or later. Miners doing this have already lost over $50,000 USD during the 4 Minint 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 with Bitcoin Core What is a bitcoin mining pool 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 if 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 What is a bitcoin mining pool. 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: greater than 10% of the network.↑Merged mining allows miners to mine on multiple block chains at the same time with the 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 in the merged chain are not pooled).↑ 5.05.15.2Intention to continue SPV minihg, Wang What is a bitcoin mining pool, 4 July 2015
See also
Introduction
Mining Pools Explained
Contents
Introduction
Mining is integral to the security of Proof of Work blockchains. By computing hashes 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 miners 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. But 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 only takes you so far. You could 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 to find one in every thousand blocks. With an estimated 144 blocks mined a day, you’d probably find one block a week. Depending on your cash flow and investment 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. What is a bitcoin mining pool all of you combine your hashing power, you’d have 1% of What is a bitcoin mining pool network’s hash rate. This means you’d find one in every hundred blocks on average, which works 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, What is a bitcoin mining pool 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 What is a bitcoin mining pool 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 What is a bitcoin mining pool miner and to reward them accordingly.
Pay-Per-Share (PPS) mining pools
One of the more common payout 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 What is a 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 shares, you’d receive 5% of the available reward (or 0.5 BTC).
You can find several variations of these two schemes, 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.
Looking to get What is a bitcoin mining pool with cryptocurrency? Buy Bitcoin on Binance!
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 network’s hash power, they can launch a 51% attack. That would allow them to censor transactions What is a bitcoin mining pool to reverse old ones. Such an attack can cause massive damage to a What is a bitcoin mining pool ecosystem.
Do mining pools increase the risk of a 51% attack? The answer is: maybe, but it What is a bitcoin mining pool likely.
24-hour breakdown of hash rate by pool on April 16 2020. Source: coindance. com
In What is a bitcoin mining pool, the top four pools could collude to hijack the network. That wouldn’t make much sense, though. Even if they did manage to 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 consistent payout. With many different schemes available, they’re bound to find one that best suits their needs.
In an 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 long run. Participants would likely prevent it from happening – after all, Bitcoin is not run by the miners, but the users.
BTC. com Pool, a better bitcoin mining pool
Read an important announcement about Bitcoin from Bitcoin. com. Bitcoin Core (BTC) mining is competitive and the goal is minijg you want to solve or “find” a block before anyone else’s miner does. Then you will get the block reward and transaction fees from the block. During the last several years we have seen an incredible amount of bitcokn coming online which made miing harder to have enough hashrate personally (individually) to solve a block, thus getting the payout reward. To compensate What is a bitcoin mining pool this pool mining was developed. What a mining pool does is accept connections from miners anywhere in the world (if applicable and some are private) and pool their hashrate together thus mining with a higher whaf hashrate. In doing this the variance or luck of finding block is increased to the positive by having a larger total hashrate pokl trying to process a block the fastest. Here is the official wiki definition of pooled mining:
“Pooled mining is a mining approach where groups of individual miners contribute to the generation of a block, and then split the block reward according the contributed processing power. Pooled mining effectively reduces the granularity of the block generation reward, spreading it out more What is a bitcoin mining pool over time among the group.”
(Update: Bitcoin Core is less usable as money due to much higher fees and delayed transaction times. The Core polo has also What is a bitcoin mining pool an interest in keeping these fees high since they view BTC as a "store-of-value" and not something to be transacted on a daily basis. In contrast, Bitcoin Cash's transaction fees cost pennies minihg payments can be validated even with zero confirmations. These facts make BCH the ideal cryptocurrency for sending and receiving money anywhere in the world.) There bktcoin several types of mining pool payout systems. You can choose which is the best for you based on your own personal requirements. The different payout systems are summarized below. Choosing a Bitcoin Core mining pool is up to which pool you What is a bitcoin mining pool is the fairest and which can wbat you the highest amount of payouts for your investment. Most pools are provably fair and will poo out fairly based on their type of pool approach. Here are a couple of the wiki definitions of the different mining pool payout approaches to help you make What is a bitcoin mining pool informed decision in choosing your mining pool. Pay Per Share (PPS) The Pay-per-Share (PPS) approach is to offer an instant flat payout for each share that is solved. The payout is offered from the pool's existing balance and can therefore be withdrawn immediately, without waiting for a block to be solved or confirmed. The possibility of cheating the miners by the pool operator and by timing attacks is thus completely eliminated. This method results in whay least possible variance for miners while transferring all risk to the pool operator. The resulting possibility of loss for the server is offset by setting a payout lower than the full expected value. Pay Per Last Whaat Shares (PPLNS) PPLNS has a higher payout. PPLNS will give you wide fluctuations in your 24 hour payout, but for hardcore miners, the law of large numbers states you will earn more this way. This is for people trying to mine as fast as possible. One thing to remember in choosing your pool is to keep in mind the global hashrate and if you can choose a pool that may not have wyat most hashrate. In doing this you strengthen smaller pools and spread the hashrate out to help mining decentralization. You also want to choose a mining pool with nodes the closest to where your miners are located. While most pools nodes are fine from all over the world it can help with lost shares and lower latency. Bitcoin. com has its own mining pool which offers both payout approaches mentioned above. You can begin mining today with competitive pricing and cloud mining contracts which is sure to yield profitability. When you begin mining if you have questions on how to start, fees, or payouts, simply login and head over to the Getting Started page to read some common question and answers. Piol is also a community forum where users can engage with other miners.
Комментариев нет:
Отправить комментарий