4 Easy Facts About Bitcoin Mining Tutorial Shown
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 that the high fees that the pool owners bill, to mitigate the risk they take by paying regularly.
Proportional: Just like in PPS, miners submit shares along the block finding period. The more hashing power you have and the longer you mined for the cube, the more shares you filed. Once a cube is found, the pool pay the miners according to the amount of shares they received.
However in this payment method, the value you will receive for each share will equal the block benefits divided by the entire number of shares filed by all miner. This means that the more miners that join the pool, the lower the value of each 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 power are calculated into a scoring hash speed score. The longer you stay on the swimming pool, the higher your score is and the greater the value of the  shares you get. Once you stop mining, your score gets smaller and the value of your shares drop accordingly.
Pay per standard N Shares (PPLNS): In PPLNS, miners only get paid for shares received during a predefined window that ends in the block solving. Unlike other payment schemes, stocks received outside of the window will not be rewarded at all. This window can either be defined as a time frame (uncommon), or with a certain number (N) that represents the last shares received up into the block solving. .
By way of instance, 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 usually set as a multiple of the mining pool difficulty using a constant, usually two.
For this reason, PPLNS can be called Pay per Luck Shares. When implemented properly, miners cant predict the ideal time to join, so that they can either get greater rewards when they got to receive more shares within the previous N stocks, or get no reward whatsoever if 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 claims a 2% commission go to the website from every block solving benefit. SlushPools dashboard is very user friendly and provides excellent detail with routine updates. While it might not be the biggest of the Bitcoin mining pools, its certainly considered one of the very best.
Antpool is a Chinese Bitcoin mining pool run by Bitmain Technologies. It is medium in size. One advantage Antpool has is that you can pick between PPLNS (0% fee) and PPS+ (2% fee), each of which have their own advantages.
In regard to payments, theyre created once daily when the amount exceeds 0.001 Bitcoin. Those new to Bitcoin mining will love the clean interface. The dashboard clearly displays earnings and hashrates. There are also many different security options, including two-factor authentication, email alerts, and pocket 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 the greatest pool around, at the time of writing. BTC.com have their own payment system, FPPS, which similar to PPS+ include TX fees in the payouts, along with i loved this the block reward.
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F2Pool is a medium-large pool situated in 2013. Operating a PPS+ reward system, F2Pool takes a 2.5% fee, which is a bit on the large side.
Also known as KanoPool, Kano CKPool was founded in 2014. This small Bitcoin mining pool provides PPLNS payment model, charging a 0.9% fee.
With regard to payout, per each block found you'll need to wait +101 block confirmations to get paid, which could take some time.
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This is a comparatively 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 have two-factor authentication to get an additional layer of security.