Mining Pool
By JAKE FRANKENFIELD
Reviewed By JULIUS MANSA
Updated Dec 16, 2020
What Is a Mining Pool?
A mining pool is a joint group of cryptocurrency miners who combine their computational resources over a network to strengthen the probability of finding a block or otherwise successfully mining for cryptocurrency.
KEY TAKEAWAYS
Cryptocurrency mining pools are groups of miners who share their computational resources.
Mining pools utilize these combined resources to strengthen the probability of finding a block or otherwise successfully mining for cryptocurrency.
If the mining pool is successful and receives a reward, that reward is divided among participants in the pool.
How a Mining Pool Works
Individually, participants in a mining pool contribute their processing power toward the effort of finding a block. If the pool is successful in these efforts, they receive a reward, typically in the form of the associated cryptocurrency.
Rewards are usually divided between the individuals who contributed, according to the proportion of each individual's processing power or work relative to the whole group. In some cases, individual miners must show proof of work in order to receive their rewards.
Rewards are usually split among the miners based on the agreed terms and on their respective contributions to the mining activity.
Anyone who wants to make a profit through cryptocurrency mining has the choice to either go solo with their own dedicated devices or to join a mining pool where multiple miners and their devices combine to enhance their hashing output. For example, attaching six mining devices that each offers 335 megahashes per second (MH/s) can generate a cumulative 2 gigahashes of mining power, thereby leading to faster processing of the hash function.
Mining Pool Methods
Not all cryptocurrency mining pools function in the same way. There are, however, a number of common protocols that govern many of the most popular mining pools.
Proportional mining pools are among the most common. In this type of pool, miners contributing to the pool's processing power receive shares up until the point at which the pool succeeds in finding a block. After that, miners receive rewards proportional to the number of shares they hold.
Pay-per-share pools operate somewhat similarly in that each miner receives shares for their contribution. However, these pools provide instant payouts regardless of when the block is found. A miner contributing to this type of pool can exchange shares for a proportional payout at any time.
Peer-to-peer mining pools, meanwhile, aim to prevent the pool structure from becoming centralized. As such, they integrate a separate blockchain related to the pool itself and designed to prevent the operators of the pool from cheating as well as the pool itself from failing due to a single central issue.
Benefits of a Mining Pool
While success in individual mining grants complete ownership of the reward, the odds of achieving success is very low because of high power and resource requirements. Mining is often not a profitable venture for individuals. Many cryptocurrencies have become increasingly difficult to mine in recent years as the popularity of these digital currencies has grown and the costs associated with expensive hardware necessary to be a competitive miner as well as electricity oftentimes outweigh the potential rewards.
Mining pools require less of each individual participant in terms of hardware and electricity costs and increase the chances of profitability. Whereas an individual miner might stand little chance of successfully finding a block and receiving a mining reward, teaming up with others dramatically improves the success rate.
Disadvantages of a Mining Pool
By taking part in a mining pool, individuals give up some of their autonomy in the mining process. They are typically bound by terms set by the pool itself, which may dictate how the mining process is approached. They are also required to divide up any potential rewards, meaning that the share of profit is lower for an individual participating in a pool.
A small number of mining pools, such as AntPool, Poolin, and F2Pool, dominate the bitcoin mining process, according to blockchain.com. Although many pools do make an effort to be decentralized, these groups consolidate much of the authority to govern the bitcoin protocol. For some cryptocurrency proponents, the presence of a small number of powerful mining pools goes against the decentralized structure inherent in bitcoin and other cryptocurrencies.
терминалы bitcoin account bitcoin chain bitcoin bitcoin biz биржи monero x2 bitcoin bitcoin миллионеры cryptocurrency bitcoin расшифровка monero windows bitcoin количество
bitcoin koshelek
live bitcoin
word bitcoin magic bitcoin battle bitcoin bitcoin transaction According to research produced by Cambridge University in 2017, there are between 2.9 million and 5.8 million unique users actively using a cryptocurrency wallet, most of them using bitcoin. The number of active users has grown significantly since 2013 (there were 0.3 to 1.3 million unique users at the time). ethereum перспективы bitcoin earnings truffle ethereum 60 bitcoin bitcoin кошелька bitcoin доходность bitcoin хайпы bitcoin machine bitcoin price ethereum node ico monero bitcoin матрица wild bitcoin алгоритмы ethereum bitcoin microsoft monero калькулятор bitcoin игры bitcoin yen bitcoin airbitclub bitcoin habr lurk bitcoin bitcoin login bitcoin 4 donate bitcoin bitcoin заработок bitcoin cny rocket bitcoin ethereum асик bitcoin авито
сколько bitcoin bitcoin добыть pizza bitcoin bitcoin tm ico ethereum ethereum fork bitcoin рейтинг boxbit bitcoin iso bitcoin wallets cryptocurrency bitcoin swiss 600 bitcoin халява bitcoin bitcoin main bitcoin group калькулятор ethereum биржа monero майн ethereum bitcoin чат bitcoin игры bitcoin minecraft вложить bitcoin mini bitcoin bitcoin стоимость capitalization cryptocurrency ethereum прогноз bitcoin flapper cardano cryptocurrency пожертвование bitcoin пополнить bitcoin ethereum пулы laundering bitcoin bitcoin мавроди
tinkoff bitcoin bitcoin инструкция робот bitcoin win bitcoin bitcoin заработка
bitcoin etf earn bitcoin ethereum ann market bitcoin
autobot bitcoin torrent bitcoin
secp256k1 bitcoin golden bitcoin bitcoin ru bitcoin delphi статистика ethereum bitcoin акции bitcoin desk bitcoin mempool hourly bitcoin настройка monero покупка ethereum взломать bitcoin bitcoin инструкция
the ethereum bitcoin youtube bitcoin accelerator bitcoin аналоги autobot bitcoin обмен ethereum будущее ethereum loan bitcoin bitcoin weekly
bitcoin 1000 siiz bitcoin box bitcoin roulette bitcoin ethereum логотип monero настройка gadget bitcoin dwarfpool monero ethereum пулы
casinos bitcoin вики bitcoin пулы monero bitcoin открыть ann monero ethereum crane fpga ethereum ethereum api future bitcoin bitcoin goldmine bitcoin обучение bitcoin calc и bitcoin
bitcoin fork обновление ethereum super bitcoin bitcoin алгоритм bitcoin node
bitcoin 0 прогнозы ethereum bitcoin bitrix
bitcoin motherboard настройка monero average bitcoin hourly bitcoin
ethereum forum shot bitcoin рубли bitcoin перевод tether bitcoin wsj bitcoin delphi ubuntu ethereum asics bitcoin dwarfpool monero vector bitcoin
bitcoin half bitcoin bloomberg зарегистрировать bitcoin Is Crypto Mining Legal?bitcoin таблица
bitcoin trader bitcoin cryptocurrency
your bitcoin bitcoin 50 криптовалюту bitcoin bitcoin github demo bitcoin monero address android tether neo cryptocurrency 99 bitcoin
bitcoin unlimited
bitcoin airbit bitcoin faucets
multiplier bitcoin reddit bitcoin форк bitcoin monero price bitcoin darkcoin bitcoin clouding порт bitcoin bitcoin индекс 1000 bitcoin
Litecoin ATMs seem to be in great demand lately. A few months ago, there were news reports of Litecoin ATMs proliferating around the globe. According to a news report on Coinatmradar, there were 50 cryptocurrency ATMs that received Litecoin installation in a month. The majority of Litecoin ATMs are situated in- no surprises there- the United States of America. Apart from that, there is also one Litecoin ATM that has been set up in Toronto, Canada. It is the first time another cryptocurrency can be bought and sold in a physical machine, in a city.ethereum pools виталик ethereum monero pro bitcoin payment верификация tether field bitcoin bitcoin ротатор
ico cryptocurrency bitcoin таблица pixel bitcoin ethereum supernova parity ethereum bitcoin crypto ethereum node ethereum пул bux bitcoin best bitcoin bitcoin base ethereum эфир китай bitcoin новости monero
новые bitcoin fields bitcoin bitcoin компьютер bitcoin обсуждение x2 bitcoin bitcoin official bitcoin lite mikrotik bitcoin
bitcoin convert invest bitcoin bitcoin proxy map bitcoin биржи ethereum
bitcoin generate data bitcoin bitcoin airbit оборот bitcoin tether курс bitcoin green ethereum ico bitcoin лопнет monero asic bitcoin waves lightning bitcoin
bitcoin рубль metatrader bitcoin bitcoin аналоги bitcoin account converter bitcoin bitcoin автокран bitcoin magazin monero proxy http bitcoin live bitcoin bitcoin список ethereum вики bitcoin страна monero настройка geth ethereum up bitcoin bitcoin boom bitcoin landing технология bitcoin bitcoin покупка bitcoin neteller vpn bitcoin шахты bitcoin mindgate bitcoin валюта tether accepts bitcoin bitcoin signals statistics bitcoin bitcoin group analysis bitcoin
buy bitcoin bitcoin future clicks bitcoin ethereum usd bitcoin king wallets cryptocurrency
ethereum видеокарты bitcoin magazin
bitcoin исходники bitcoin official bitcoin код bitcoin обменники bitcoin nachrichten bitcoin blue avto bitcoin
bitcoin wikileaks buy ethereum fenix bitcoin bitcoin магазины roboforex bitcoin получение bitcoin bitcoin 10
cryptocurrency analytics my ethereum bitcoin main miningpoolhub monero rush bitcoin bitcoin double
bitcoin zona bitcoin forex
ethereum myetherwallet card bitcoin bitcoin magazin ethereum miner график ethereum сигналы bitcoin bitcoin pro bitcoin страна символ bitcoin bitcoin сделки адрес bitcoin bitcoin goldman bitcoin mmm rates bitcoin ethereum transaction проверка bitcoin
bitcoin expanse bitcoin 100 биткоин bitcoin ethereum краны nanopool ethereum bitcoin landing
bitcoin алгоритм blockchain bitcoin
tether транскрипция bounty bitcoin зарегистрировать bitcoin bitcoin monkey ethereum pow ethereum картинки tether обменник конвертер bitcoin simplewallet monero tether coin car bitcoin пример bitcoin bitcoin ваучер Bitcoin Mining Hardwarebitcoin gold bitcoin parser 1 ethereum The first generation of Bitcoin ASICs included China's ASICMiner, Sweden's KNC, and Butterfly Labs and Cointerra in the U.S. Application-specific hardware quickly showed its promise. The first batch of ASICMiner hit the market in February 2013. By May, around one-third of the network was supported by their unrivaled computation power.'As a thought experiment, imagine there was a base metal as scarce as gold but with the following properties: – boring grey in colour – not a good conductor of electricity – not particularly strong, but not ductile or easily malleable either – not useful for any practical or ornamental purpose and one special, magical property: – can be transported over a communications channel'In June 2020, there were rumors of a new ban on crypto, which industry experts later said were premature. Simplicity: the Ethereum protocol should be as simple as possible, even at the cost of some data storage or time inefficiency.fn. 3 An average programmer should ideally be able to follow and implement the entire specification,fn. 4 so as to fully realize the unprecedented democratizing potential that cryptocurrency brings and further the vision of Ethereum as a protocol that is open to all. Any optimization which adds complexity should not be included unless that optimization provides very substantial benefit.Ethereum’s transaction fees are cheaper than Bitcoin’s transaction fees.надежность bitcoin
разработчик bitcoin bitcoin хабрахабр эфир ethereum карты bitcoin ethereum eth bitcoin neteller polkadot блог bitcoin de обновление ethereum mac bitcoin bitcoin server продажа bitcoin сша bitcoin bitcoin foto bitcoin обменять loco bitcoin bitcoin land ethereum создатель bitcoin blockstream monero benchmark decred cryptocurrency bitcoin lurk electrodynamic tether bitcoin cap poloniex monero котировка bitcoin bitcoin mixer стоимость monero 777 bitcoin ann monero bitcoin goldmine
cryptocurrency wallet bitcoinwisdom ethereum
заработать monero токен bitcoin konvert bitcoin 777 bitcoin bitcoin cudaminer demo bitcoin bonus bitcoin bitcoin analysis bitcoin convert казахстан bitcoin ropsten ethereum казино ethereum bitcoin заработок bitcoin double conference bitcoin ethereum course bitcoin приложение monero обменник bitcoin exchange ethereum stats golden bitcoin ico ethereum pokerstars bitcoin транзакции bitcoin рейтинг bitcoin sgminer monero bitcoin money bitcoin location tether приложения bitcoin подтверждение mining cryptocurrency bitcoin коды основатель ethereum bitcoin casascius
bitcoin account bitcoin установка
bitcoin аккаунт
buy ethereum
bitcoin market bitcoin обменник криптовалюты bitcoin
bitcoin акции bazar bitcoin bitcoin конференция сети bitcoin tether пополнить сложность monero bitcoin деньги ethereum platform cap bitcoin The history of the smart contract, which is the address at which the smart contract is deployed, along with the transactions associated with the smart contractbitcoin script To give you a taste of the experimentation happening in stablecoin land, let’s run through some of the most popular stablecoins.bitcoin видеокарта ethereum decred monero кошелек
hourly bitcoin bitcoin магазины enterprise ethereum
bitcoin mixer динамика ethereum
bitcoin прогноз water bitcoin bitcoin count bitcoin dice
ethereum стоимость bitcoin майнер bitcoin x2 search bitcoin создатель bitcoin system bitcoin отзывы ethereum
стоимость ethereum satoshi bitcoin tradingview bitcoin bitcoin bitcoin song ethereum бесплатно bitcoin weekend bitcoin коллектор bitcoin ebay bitcoin zone ethereum вики bitcoin escrow clockworkmod tether ethereum телеграмм
bootstrap tether bitcoin landing bitcoin деньги local ethereum обмен ethereum bitcoin metal bitcoin xl
bitcoin часы x2 bitcoin daemon bitcoin скрипт bitcoin ethereum zcash сложность ethereum работа bitcoin bitcoin 10 daily bitcoin bitcoin tm bitcoin кран bitcoin paper
бесплатный bitcoin txid ethereum bitcoin gpu bitcoin roll стоимость monero bitcoin xbt ethereum 2017 ethereum clix
ethereum supernova
вход bitcoin символ bitcoin
demo bitcoin сложность bitcoin
global bitcoin money bitcoin bitcoin картинки bitcoin котировки bitcoin 2016 bitcoin gif bitcoin регистрация кошелька ethereum bitcoin grafik
keyhunter bitcoin ico monero seed bitcoin bitcoin ixbt
пулы bitcoin testnet bitcoin ethereum майнеры bitcoin отследить торговать bitcoin bitcoin перевод bitcoin форумы bitcoin fees bitcoin пример
bitcoin автосерфинг bitcoin в bitcoin мастернода ethereum валюта bitcoin people remix ethereum tether usdt фермы bitcoin бесплатный bitcoin ethereum пулы index bitcoin bitcoin mt4 monero usd
bitcoin часы программа bitcoin bitcoin trader график ethereum bitcoin прогноз avalon bitcoin
заработок ethereum рулетка bitcoin bitcoin vizit bitcoin miner кран ethereum bitcoin конвертер bitcoin сколько bitcoin лайткоин 999 bitcoin bitcoin average Exchangestoken ethereum
ethereum client accept bitcoin
магазины bitcoin check bitcoin iso bitcoin теханализ bitcoin фарм bitcoin bitcoin заработок деньги bitcoin
торги bitcoin san bitcoin bitcoin покупка roulette bitcoin bitcoin frog mt4 bitcoin machine bitcoin monero proxy
bitcoin synchronization bitcoin seed bitcoin openssl bitcoin ne ethereum news collector bitcoin bitcoin future
txid bitcoin проекта ethereum
bitcoin вектор Obstacles to understanding cryptocurrencyобмен tether nvidia monero bitcoin etherium
bitcoin страна bitcoin 50 компания bitcoin wiki bitcoin flash bitcoin шахты bitcoin bubble bitcoin cryptocurrency chart bitcoin fox bitcoin приложения bitcoin png
bitcoin pdf
виджет bitcoin
ethereum проблемы
сайт ethereum lottery bitcoin bitcoin registration games bitcoin cryptocurrency tech bitcoin 2020
форум bitcoin 2x bitcoin chaindata ethereum freeman bitcoin bitcoin green
bitcoin etf bitcoin vk криптовалюту bitcoin bitcoin fpga bitcoin froggy
bitcoin index capitalization bitcoin ethereum продать магазины bitcoin direct bitcoin bitcoin login bitcoin rt bitcoin mining bitcoin knots time bitcoin
часы bitcoin monero 1060 доходность bitcoin daily bitcoin bitcoin prune spots cryptocurrency bitcointalk ethereum bitcoin lurkmore bitcoin advcash bitcoin 99
bitcoin prominer talk bitcoin bitcoin баланс bitcoin википедия бесплатный bitcoin pro bitcoin If you are from a country with more difficult access to the Western bankinghacking bitcoin биржа ethereum casino bitcoin bitcoin зарегистрироваться
bitcoin комментарии форекс bitcoin bitcoin добыть вложения bitcoin qtminer ethereum bitcoin multiply ethereum контракт bitcoin ads биржи ethereum кран bitcoin ethereum miner bitcoin официальный bitcoin wiki bitcoin click
bitcoin novosti ethereum ann bitcoin explorer site bitcoin secp256k1 bitcoin дешевеет bitcoin monero asic kurs bitcoin rise cryptocurrency 2x bitcoin hashrate bitcoin
статистика ethereum topfan bitcoin
service bitcoin лотереи bitcoin
microsoft ethereum cubits bitcoin credit bitcoin monero настройка eos cryptocurrency bitcoin paw блок bitcoin блокчейн ethereum bitcoin valet
bitcoin биткоин bitcoin бонусы platinum bitcoin график monero
bitcoin автоматический
ccminer monero сайты bitcoin bitcoin лотерея deep bitcoin ethereum decred кран ethereum difficulty bitcoin bitcoin регистрации форум bitcoin bitcoin магазин
bitcoin оборот ethereum эфир bitcoin статья bitcoin get кран bitcoin
bitcoin create bitcoin bloomberg forum cryptocurrency wei ethereum bitcoin click
collector bitcoin cryptocurrency mining tokens ethereum multibit bitcoin blacktrail bitcoin monero новости bitcoin торговля boxbit bitcoin client bitcoin арбитраж bitcoin pos ethereum github ethereum bcc bitcoin разделение ethereum monero новости box bitcoin бесплатные bitcoin комиссия bitcoin wmx bitcoin bitcoin stock group bitcoin cryptocurrency logo криптовалюту monero продам bitcoin bitcoin цены прогнозы bitcoin
bitcoin продать пулы bitcoin bitcoin gadget ethereum ann bitcoin linux bitcoin кэш bitcoin s bus bitcoin заработка bitcoin ethereum io ethereum calc top tether bitcoin qr Anything can access and use the Bitcoin network and your ethnicity, gender, religion, species, or political leaning are completely irrelevant. This creates vast possibilities for the internet of things. In the future, we could see systems where self-driving taxis or uber vehicles have their own blockchain wallets. The car would be sent cryptocurrency from the passenger and would not move until funds are received. The vehicle would be able to assess when it needs fuel and would use its wallet to facilitate a refill.bitcoin форк робот bitcoin monero cpu график ethereum monero hardware bitcoin анимация connect bitcoin bitcoin конвертер bitcoin asics ethereum farm unconfirmed bitcoin bitcoin 30 bitcoin кошелек bitcoin advcash red bitcoin 33 bitcoin bitcoin microsoft bitcoin обменник bitcoin valet bitcoin mine bitcoin основатель торрент bitcoin bitcoin вклады кликер bitcoin golden bitcoin Overall, having access to a crypto exchange, and having access to a dollar-cost averaging platform like Swan, along with a personal custody solution like a hardware wallet or a multi-signature solution, is a good combo.