Bitcoin Mining Tutorial Fundamentals Explained
This payment system guarantees payments and leaves the miners with hardly any risk of not being compensated for their contribution. The downside of this scheme is the high fees the pool owners charge, to mitigate the risk they take by paying regularly.
Proportional: Just like in PPS, miners submit stocks along the block finding period. The more hashing energy you have and the longer you mined for the cube, the more shares you submitted. Once a block is found, the pool pay the miners according to the amount of shares they obtained.
However in this payment system, the value you will get for each share will equal the block rewards divided by the entire number of shares submitted 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 time and hashing power are calculated into a scoring hash speed score. The longer you stay 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 stocks drop accordingly.
Pay per standard N Stocks (PPLNS): In PPLNS, miners only get paid for stocks received during a predefined window which ends in the block solving. Unlike other payment schemes, shares received out the window will not be rewarded at all. This window can either be defined as a period frame (uncommon), or by a certain number (N) that represents the last stocks 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 be rewarded. While not defined anywhere explicitly, N is usually set as a multiple of the mining pool issue with a constant, usually 2.
Due to this, PPLNS is also known as Pay per Luck Shares. When implemented correctly, miners cant predict the ideal time to join, so that they can either get higher rewards if they must get more shares within the last 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 ahead of time. Founded by SatoshiLabs current CEO Marek Palatinus (aka Slush), its based in the Czech Republic and follows a score-based method to discourage pool-hopping.
This really is a medium-large sized pool. SlushPool asserts a 2% fee from each block solving reward. SlushPools dashboard is quite user friendly and gives excellent detail with regular upgrades. While it may not be the largest of the Bitcoin mining pools, its certainly considered one of the very best.
Antpool is a Chinese Bitcoin mining pool operated by Bitmain Technologies. It's moderate in size. One advantage Antpool has is that you can pick between PPLNS (0% commission ) and PPS+ (2% fee), both of which have their own advantages.
In terms of payments, theyre created once daily if the amount exceeds 0.001 Bitcoin. Those new to Bitcoin mining will love the clean interface. The dashboard clearly displays earnings and hashrates. Additionally, there are many different 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 home possess their own payment method, FPPS, which like PPS+ include TX fees in the payouts, along with the block reward.
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F2Pool is a medium-large pool situated in 2013. Operating a PPS+ reward system, F2Pool requires a 2.5% fee, which is a bit on the high side.
Also known as KanoPool, Kano CKPool was founded in 2014. This little Bitcoin mining pool offers PPLNS payment model, charging a 0.9% commission.
With regard to payout, per each block found you will need to wait for +101 block confirmations for paid, which might take a while.
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This is a relatively simple pool with an interface that could do with an update as its not the most user friendly. It doesnt have much in the way of features, but it does have two-factor authentication for an extra layer of security.