7 Easy Facts About Other Coins Like Bitcoin Explained
This payment system 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 that the pool owners charge, to mitigate the risk they take by paying frequently.
Proportional: Just like in PPS, miners distribute shares along the block finding interval. The more hashing power you've got and the longer you mined to your block, the more shares you submitted. Once a block is found, the pool cover the miners according to the amount of shares they obtained.
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 submitted by all miner. This means that the more miners that join the pool, the lower the value of every share you recieve.
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Score-based: This payment system was designed to prevent miners from pool-hopping. Your mining time and hashing electricity are calculated into a scoring hash rate score. The longer you stay on the swimming pool, the greater your score is and the higher 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 the window will not be rewarded at all. This window can be defined as a time frame (uncommon), or by 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 previous 1 Billion shares will be rewarded. While not defined anywhere explicitly, N is generally set as a multiple of the mining pool issue with a constant, usually two.
Due to this, PPLNS is also known as 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 shares, or find no reward at all 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 her comment is here (aka Slush), its located 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 benefit. SlushPools dashboard is very user friendly and provides excellent detail with regular upgrades. While it may not be the largest of those Bitcoin mining pools, its certainly considered one of the very best.
Antpool is a Chinese Bitcoin mining pool run by Bitmain Technologies. It is moderate in size. One advantage Antpool has is that you can choose between PPLNS (0% commission ) and PPS+ (2% fee), both of which have their own advantages.
In regard to payments, theyre made once daily if the amount exceeds 0.001 Bitcoin. Those new to Bitcoin mining will appreciate the clean interface. The dashboard clearly displays earnings and hashrates. There are also many different security options, including two-factor authentication, email alerts, Visit Website 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, at the time of writing. BTC.com have 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 program, 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 little Bitcoin mining pool offers PPLNS payment model, charging a 0.9% commission.
With respect to payout, per each block found you will need to wait for +101 block confirmations to get paid, which could take a while.
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This is a relatively straightforward 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 will possess two-factor authentication for an additional layer of security.