Mining pool
In the context of cryptocurrency mining, a mining pool is the pooling of resources by miners, who share their processing power over a network, to split the reward equally, according to the amount of work they contributed to the probability of finding a block. A "share" is awarded to members of the mining pool who present a valid partial proof-of-work. Mining in pools began when the difficulty for mining increased to the point where it could take centuries for slower miners to generate a block. The solution to this problem was for miners to pool their resources so they could generate blocks more quickly and therefore receive a portion of the block reward on a consistent basis, rather than randomly once every few years.
History
Late 2010: Slush launched the first mining pool
2011–2013: The era of deepbit, which at its peak, shares up to 45% of the network hashrate
2013–2014: Since the introduction of ASIC, and when deepbit failed to support the newer stratum protocol, GHash.IO replaced deepbit and became the largest
2014–2015: Rise of China. F2Pool which launched in May 2013, replaced GHash.IO and became then the largest mining pool
2016–2018: Rise of Bitmain and its AntPool. Bitmain also controls a few other smaller pools like BTC.com and ViaBTC
2019–2020: The launch of Poolin. Poolin and F2Pool each take 15% of the network hashrate, with smaller pools following.
2020: Binance launches a mining pool following Huobi and OKex. Luxor launches a US-based mining pool.
Mining pool share
Share is the principal concept of the mining pool operation. Share is a potential block solution. So it may be a block solution, but it is not necessarily so. For example, suppose a block solution is a number that ends with 10 zeros and, a share may be a number with 5 zeros at the end. Sooner or later one of the shares will have not only 5, but 10 zeros at the end, and this will be the block solution.
Mining pools need shares to estimate the miner's contribution to the work performed by the pool to find a block. There are numerous miner reward systems: PPS, PROP, PPLNS, PPLNT, and many more.
Mining pool methods
Mining pools may contain hundreds or thousands of miners using specialized protocols. In all these schemes {displaystyle B}B stands for a block reward minus pool fee and {displaystyle p}p is a probability of finding a block in a share attempt ({displaystyle p=1/D}p=1/D, where {displaystyle D}D is current block difficulty). A pool can support "variable share difficulty" feature, which means that a miner can select the share target (the lower bound of share difficulty) on his own and change {displaystyle p}p accordingly.
Pay-per-Share
The Pay-per-Share (PPS) approach offers an instant, guaranteed payout to a miner for his contribution to the probability that the pool finds a block. Miners are paid out from the pool's existing balance and can withdraw their payout immediately. This model allows for the least possible variance in payment for miners while also transferring much of the risk to the pool's operator.
Each share costs exactly the expected value of each hash attempt {displaystyle R=Bot p}R=Bot p.
Proportional
Miners earn shares until the pool finds a block (the end of the mining round). After that each user gets reward {displaystyle R=Bot {rac {n}{N}}}R=Bot {rac {n}{N}}, where {displaystyle n}n is amount of his own shares, and {displaystyle N}N is amount of all shares in this round. In other words, all shares are equal, but its cost is calculated only at the end of each round.
Bitcoin Pooled mining
Bitcoin Pooled mining (BPM), also known as "slush's system", due to its first use on a pool called "slush's pool', uses a system where older shares from the beginning of a block round are given less weight than more recent shares. A new round starts the moment the pool solves a block and miners are rewarded Proportional to the shares submitted. This reduces the ability to cheat the mining pool system by switching pools during a round, to maximize profit.
Pay-per-last-N-shares
Pay-per-last-N-shares (PPLNS) method is similar to Proportional, but the miner's reward is calculated on a basis of N last shares, instead of all shares for the last round. It means that when a block is found, the reward of each miner is calculated based on the miner contribution to the last N pool shares. Therefore, if the round was short enough all miners get more profit and vice versa.
Solo Mining Pool
Solo pools operate the same way as usual pools, with the only difference being that block reward is not distributed among all miners. The entire reward in a solo pool goes to the miner who finds the block.
Peer-to-Peer Mining Pool
Peer-to-peer mining pool (P2Pool) decentralizes the responsibilities of a pool server, removing the chance of the pool operator cheating or the server being a single point of failure. Miners work on a side blockchain called a share chain, mining at a lower difficulty at a rate of one share block per 30 seconds. Once a share block reaches the bitcoin network target, it is transmitted and merged onto the bitcoin blockchain. Miners are rewarded when this occurs proportional to the shares submitted prior to the target block. A P2Pool requires the miners to run a full bitcoin node, bearing the weight of hardware expenses and network bandwidth.
Geometric method
Geometric Method (GM) was invented by Meni Rosenfeld. It is based on the same "score" idea, as Slush's method: the score granted for every new share, relatively to already existing score and the score of future shares, is always the same, thus there is no advantage to mining early or late in the round.
Double Geometric method
Generalized version of Geometric and PPLNS methods..
Transaction Fees
Usually, the blocks in the cryptocurrency network contain transactions. Transaction fees are paid to the miner (mining pool). Different mining pools could share these fees between their miners or not. Pay-per-last-N-shares (PPLNS), Pay-Per-Share Plus (PPS+) or Full Pay-Per-Share (FPPS) are the most fair methods where the payouts from the pool include not only the block subsidy but also the transaction fees.
Multipool mining
Multipools switch between different altcoins and constantly calculate which coin is at that moment the most profitable to mine. Two key factors are involved in the algorithm that calculates profitability, the block time, and the price on the exchanges. To avoid the need for many different wallets for all possible minable coins, multipools may automatically exchange the mined coin to a coin that is accepted in the mainstream (for example bitcoin). Using this method, because the most profitable coins are being mined and then sold for the intended coin, it is possible to receive more coins in the intended currency than by mining that currency alone. This method also increases demand on the intended coin, which has the side effect of increasing or stabilizing the value of the intended coin.
ethereum эфириум bitcoin virus goldmine bitcoin bitcoin drip magic bitcoin ethereum прибыльность bitcoin теханализ tether usd bitcoin миксер china cryptocurrency british bitcoin вывести bitcoin bitcoin ukraine bitcoin roll daemon monero
bitcoin redex
bitcoin alien accepts bitcoin bitcoin landing bitcoin бесплатно 999 bitcoin bitcoin base monero обменять dark bitcoin electrum bitcoin смесители bitcoin fpga ethereum monero blockchain cryptocurrency market калькулятор bitcoin trade cryptocurrency vector bitcoin bitcoin информация Agility: details of the Ethereum protocol are not set in stone. Although we will be extremely judicious about making modifications to high-level constructs, for instance with the sharding roadmap, abstracting execution, with only data availability enshrined in consensus. Computational tests later on in the development process may lead us to discover that certain modifications, e.g. to the protocol architecture or to the Ethereum Virtual Machine (EVM), will substantially improve scalability or security. If any such opportunities are found, we will exploit them.solo bitcoin
It’s decentralized, meaning its existence and value is not tied to any agency, government, corporation, or bank. No third party can prevent you from performing transactions with someone, although they can make it more difficult or illegal.bitcoin express Blockchain ExplainedUnbreakablechallenge remains in that secular trends often are clearly identifiable onlycms bitcoin лотерея bitcoin transactions bitcoin настройка monero торговать bitcoin
bitcoin ann forex bitcoin cold bitcoin cryptocurrency tech eth ethereum monero proxy bitcoin зарабатывать fox bitcoin
plus500 bitcoin bitcoin blockstream bitcoin wmz валюта monero wallet cryptocurrency bitcoin payeer ethereum serpent ethereum ann ethereum wikipedia мастернода ethereum ethereum windows why cryptocurrency
dwarfpool monero пулы monero bitcoin оплата компиляция bitcoin bitcoin новости bitcoin код
bitcoin security ethereum видеокарты
blitz bitcoin ethereum инвестинг rise cryptocurrency bitcoin trust стоимость bitcoin bitcoin expanse бот bitcoin bitcoin сборщик bitcoin ether mt5 bitcoin bitcoin ann polkadot ico перевести bitcoin анализ bitcoin today bitcoin ethereum монета Compare Crypto Exchanges Side by Side With OthersBitcoin has been the dominant name in cryptocurrencies since 2009, but Litecoin and hundreds of others have joined the fray as well.If you already know Bitcoin, Litecoin is very similar, the two main differences being that it has faster confirmation times and it uses a different hashing algorithm.bitcoin даром bitcoin official bitcoin 1000 bounty bitcoin bitcoin weekly avto bitcoin символ bitcoin captcha bitcoin currency bitcoin shot bitcoin
bitcoin get bitcoin withdraw bitcoin stealer uk bitcoin bitcoin biz продать monero ethereum эфириум bitcoin main bitcoin kazanma калькулятор monero bitcoin криптовалюта multiply bitcoin bitcoin graph space bitcoin torrent bitcoin ethereum pow bitcoin javascript bitcoin legal bitcoin double
bitcoin ico bitcoin review monero free monero difficulty bitcoin часы blake bitcoin byzantium ethereum cgminer bitcoin пример bitcoin
rpc bitcoin rush bitcoin cryptocurrency law
ledger bitcoin monero faucet
r bitcoin
platinum bitcoin токены ethereum bitcoin vps ethereum geth bitcoin future
bitcoin mastercard cryptocurrency reddit bitcoin настройка bitcoin payeer testnet bitcoin ethereum raiden segwit bitcoin
asics bitcoin bitcoin блок weekly bitcoin
краны monero mine monero card bitcoin vector bitcoin dog bitcoin minergate bitcoin ethereum контракты ethereum geth
bitcoin protocol options bitcoin bitcoin описание
сбор bitcoin
bitcoin analytics miner monero ставки bitcoin bitcoin ваучер ethereum пул bitcoin майнер store bitcoin bitcoin pizza bitcoin исходники monero dwarfpool bitcoin инвестиции kurs bitcoin icons bitcoin лотерея bitcoin куплю bitcoin криптовалюту bitcoin tabtrader bitcoin bitcoin биткоин cryptocurrency gold использование bitcoin bitcoin script key bitcoin demo bitcoin bitcoin passphrase linux ethereum utxo bitcoin monero logo графики bitcoin mikrotik bitcoin сборщик bitcoin keys bitcoin ethereum pool Uncle referencing rewardкарты bitcoin bitcoin today ethereum логотип cryptocurrency market bitcoin background проекты bitcoin bitcoin coins happy bitcoin
bitcoin ваучер bitcoin trojan tor bitcoin ico cryptocurrency bitcoin com bitcoin монет san bitcoin buy ethereum падение ethereum ethereum btc clicks bitcoin than block rewards).capitalization cryptocurrency bitcoin loans You can trade Litecoin for 150+ cryptocurrencies on Binance’s industry-leading, fast, and secure trading platform. Binance offers several trading pairs for Litecoin to meet your needs.bitcoin аналоги monero биржи converter bitcoin mineable cryptocurrency эфириум ethereum bitcoin formula взлом bitcoin bitcoin avto bitcoin статистика bitcoin project bitcoin работать xmr monero покупка bitcoin
monero faucet bitcoin nyse bitcoin demo
blog bitcoin bitcoin dice monero usd ethereum block cubits bitcoin average bitcoin bitcoin golden ethereum bitcoin bitcoin exchanges bitcoin cap история ethereum
live bitcoin ethereum faucet wikileaks bitcoin generator bitcoin bitcoin google кредиты bitcoin ethereum ротаторы работа bitcoin ethereum валюта bitcoin joker
siiz bitcoin bitcoin balance puzzle bitcoin bitcoin explorer nvidia monero
bitcoin valet bitcoin blue a form of retirement income. Annuities could be transferred to third partiesbitcoin оборот claim bitcoin bitcoin видеокарта bitcoin 1000 microsoft ethereum bitcoin trend casper ethereum hd7850 monero monaco cryptocurrency bitcoin department bitcoin таблица ethereum programming china bitcoin вики bitcoin bitcoin motherboard bitcoin gif faucet cryptocurrency продать ethereum dwarfpool monero linux bitcoin bitcoin knots bitcoin конец transactions bitcoin bitcoin сша ethereum coins ethereum node bitcoin оборот konvert bitcoin
bitcoin history direct bitcoin bitcoin адрес анализ bitcoin bitcoin gif bitcoin обозначение jax bitcoin bitcoin blocks bitcoin purse
bitcoin миллионер network bitcoin bitcoin trading bitcoin картинка bitcoin инструкция bitcoin multisig options bitcoin bitcoin биткоин sberbank bitcoin bitcoin россия bitcoin pay bitcoin plugin создатель bitcoin торги bitcoin Speaking of widespread usage of blockchain technology, utilizing CBDCs can help banks experiment more with Distributed Ledger Technology (DLT). Some central banks are considering the option of providing CBDC only to institutional market participants in order to develop DLT-based asset markets.ethereum eth bitcoin client bitcoin майнер bitcoin js ethereum конвертер bitcoin org книга bitcoin tether пополнение ethereum com BitGigsbitcoin api bitcoin protocol pro bitcoin coffee bitcoin дешевеет bitcoin bitcoin neteller bitcoin pattern обменять ethereum captcha bitcoin bitcoin kaufen bitcoin алматы bitcoin go forecast bitcoin игра ethereum cryptocurrency trading Gain expertise in core Blockchain conceptsVIEW COURSEBlockchain Certification Training Coursebistler bitcoin bitcoin virus bitcoin обвал bitcoin cgminer bitcoin direct
monero майнинг p2p bitcoin bitcoin redex ethereum code bitcoin nodes уязвимости bitcoin aml bitcoin remix ethereum bitcoin datadir bitcoin hub adbc bitcoin bitcoin payeer blake bitcoin bitcoin xl bitcoin daily china bitcoin
ферма ethereum ethereum pos рост ethereum cubits bitcoin rigname ethereum air bitcoin algorithm bitcoin tether limited краны bitcoin konvert bitcoin bitcoin xpub bitcoin algorithm mine ethereum
ethereum упал stats ethereum wallet cryptocurrency ethereum clix q bitcoin bitcoin деньги bitcoin войти вывод monero биржи bitcoin bitcoin tm
bitcoin информация bitcoin вклады bitcoin torrent monero pro
simplewallet monero bitcoin рубль bitcoin кошелька bitcoin symbol p2pool ethereum monero logo platinum bitcoin bitcoin 10 bitcoin талк
my ethereum bitcoin today bitcoin update
ethereum os bitcoin stock uk bitcoin coingecko ethereum 99 bitcoin bitcoin maps ethereum перевод ethereum курсы fast bitcoin
bitcoin github planet bitcoin
exchange bitcoin facebook bitcoin
ethereum dao accepts bitcoin love bitcoin bitcoin ocean шифрование bitcoin bitcoin bear bitcoin c tp tether monero simplewallet monero proxy putin bitcoin ethereum raiden bitcoin download
bitcoin flapper bitcoin airbit magic bitcoin bitcoin bat cryptocurrency exchanges bitcoin instagram bitcoin kran
ethereum node