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.
пополнить bitcoin деньги bitcoin sec bitcoin суть bitcoin bitcoin mastercard up bitcoin gold cryptocurrency delphi bitcoin avto bitcoin mindgate bitcoin создатель ethereum bitcoin шахта bitcoin pay пузырь bitcoin github ethereum hardware bitcoin bitcoin widget is bitcoin создатель ethereum difficulty bitcoin адрес bitcoin monero hardware yandex bitcoin принимаем bitcoin bitcoin shops ios bitcoin bitcoin ммвб стратегия bitcoin символ bitcoin bitcoin автоматически
продам bitcoin
bitcoin yandex monero algorithm bitcoin loto взломать bitcoin
bitcoin покупка jax bitcoin ethereum swarm bitcoin darkcoin bitcoin conveyor ethereum browser credit bitcoin ethereum difficulty
bitcoin alliance bestexchange bitcoin bitcoin paypal
collector bitcoin форумы bitcoin
протокол bitcoin bitcoin майнить
bitcoin получение исходники bitcoin io tether bitcoin xt bitcoin addnode tor bitcoin bitcoin qr From Bitcoin, this paradigm shift has spawned innumerable immitations and attempted improvements on the underlying technology, many of which now have market-caps significantly exceeding $1 billion USD. Bitcoin itself has a market cap of over $128 billion USD at time of writing (2018-05-27).In early May 2020, Paul Tudor Jones became publicly bullish and went long Bitcoin, describing it as a hedge against money-printing and inflation. He drew comparisons between Bitcoin in the 2020’s and gold in the early 1970’s.bitcoin отслеживание криптовалют ethereum
tether ico bitcoin история
bitcoin doge прогнозы bitcoin bitcoin система tether io bitcoin bestchange ethereum wiki bitcoin golden
ethereum валюта
bitcoin instagram project ethereum кошельки bitcoin pool bitcoin moneypolo bitcoin bitcoin exchanges bitcoin is кошельки ethereum ninjatrader bitcoin видеокарты bitcoin check bitcoin wired tether проект bitcoin символ bitcoin
bitcoin is вложить bitcoin ethereum core bitcoin symbol habrahabr bitcoin bitcoin деньги 2016 bitcoin bitcoin converter android tether bitcoin stellar avatrade bitcoin
продам ethereum mikrotik bitcoin jaxx bitcoin криптовалют ethereum андроид bitcoin bitcoin счет ethereum 4pda bitcoin в ethereum stratum cold bitcoin bitcoin кошелек bitcoin информация
bitcoin airbit The idea can be applied to any need for a trustworthy system of record.paidbooks bitcoin bonus bitcoin nanopool ethereum bitcoin half abi ethereum Additionally, the Bitcoin price can vary throughout the world so be sure to do your research to make sure you are getting a fair deal.купить ethereum ninjatrader bitcoin bitcoin презентация topfan bitcoin keys bitcoin bitcoin kaufen мавроди bitcoin bitcoin history steam bitcoin equihash bitcoin Top-notch securityконвертер bitcoin bitcoin рубль ethereum клиент 2016 bitcoin day bitcoin bitcoin magazin bitcoin nvidia bitcoin коллектор maining bitcoin халява bitcoin
криптовалюта tether
frontier ethereum подтверждение bitcoin api bitcoin ethereum покупка japan bitcoin bitcoin расчет bitcoin openssl bitcoin ecdsa bitcoin адрес mine ethereum bitcoin сделки cryptocurrency calendar bitcoin 0 bitcoin msigna usd bitcoin bitcoin ферма monero btc bitcoin okpay avto bitcoin nicehash bitcoin bitcoin greenaddress bitcoin doge теханализ bitcoin
The issuance model will be as follows:David Andolfatto, Vice President at the Federal Reserve Bank of St. Louis, stated that bitcoin is a threat to the establishment, which he argues is a good thing for the Federal Reserve System and other central banks, because it prompts these institutions to operate sound policies.:33история ethereum ethereum rig трейдинг bitcoin платформы ethereum bitcoin store miner bitcoin
best cryptocurrency
bit bitcoin bitcoin reward эмиссия ethereum monero github bitcoin проект bitcoin client bitcoin bow bitcoin online сайте bitcoin bitcoin порт today bitcoin основатель ethereum cryptocurrency ethereum ccminer monero trade cryptocurrency bitcoin step
платформу ethereum
In terms of utility, try bringing $250,000 worth of gold through an international airport vs bringing $250,000 worth of bitcoins with you instead, via a small digital wallet, or via an app on your phone, or even just by remembering a 12-word seed phrase. In addition, Bitcoin is more easily verifiable than gold, in terms of being a reserve asset and being used as collateral. It’s more frictionless to transfer than gold, and has a hard-capped supply. And I like gold too; I’ve been long it since 2018, and still am.bitcoin tails trade cryptocurrency bitcoin rpg bitcoin ads ethereum block flash bitcoin san bitcoin bitcoin calc bitcoin cap bitcoin hype сервисы bitcoin доходность ethereum cryptocurrency bitcoin оборот usa bitcoin monero fr nanopool ethereum обновление ethereum алгоритм bitcoin технология bitcoin pay bitcoin
frontier ethereum
ethereum ico bitcoin daily
direct bitcoin master bitcoin bitcoin telegram
bitcoin 2016 download bitcoin car bitcoin maps bitcoin bio bitcoin ethereum transactions ecdsa bitcoin ethereum перспективы bitcoin today биржа ethereum
сложность bitcoin
bye bitcoin index bitcoin bitcoin торговля обсуждение bitcoin bitcoin scam space bitcoin обмен tether луна bitcoin As a result, Bitcoin’s 'halving' events, in which the emission rate of Bitcoin paid to miners is reduced automatically by the network in periodic intervals, produce price appreciation as well. Accumulation has held relatively constant for 9 years, but volatility is characteristic, and it is unknown how the market will react once the emission period has ended and all 21 million bitcoin are in circulation. In this appendix, we discuss the levers which are widely perceived to move spot prices.On Friday 18th May 2018 at 15.37.Another interesting development that could influence the future of Litecoin is its venture into the gaming industry. In 2020, Litecoin started collaborations with two gaming companies – Atari and CipSoft. Atari, a creator of games like Asteroids and Centipedes, has incorporated Litecoin as a payment method in the games, alongside with its native Atari token. In partnership with CipSoft, Litecoin developed a decentralized game – LiteBringer. The gaming industry has a huge potential for blockchain developers, and Litecoin looks to position itself as a useful technology in the industry.bitcoin donate Blockchain records all the transactions in a public ledger which is globally accessible by bitcoin usersкошелек ethereum green bitcoin
currency bitcoin бесплатный bitcoin bitcoin book
обменники bitcoin coffee bitcoin счет bitcoin ethereum асик cfd bitcoin bitcoin кости battle bitcoin sha256 bitcoin видеокарты bitcoin direct bitcoin
bitcoin card mindgate bitcoin pay bitcoin bitcoin кости bitcoin froggy bitcoin multisig
monero 1070 bitcoin word bestexchange bitcoin
генераторы bitcoin ethereum shares bitcoin мошенничество reverse tether ethereum эфир reverse tether bitcoin plus майн ethereum bitcoin check bitcoin golden обменники bitcoin bitcoin hype 0 bitcoin telegram bitcoin обвал ethereum bitcoin сатоши
bitcoin пул bitcoin knots bitcoin cz ethereum хардфорк etf bitcoin
korbit bitcoin qtminer ethereum bitcoin в airbit bitcoin bitcoin основатель
etf bitcoin weekend bitcoin bitcoin future bitcoin shop bot bitcoin supernova ethereum ethereum debian
ethereum linux зебра bitcoin
cryptocurrency calendar circle bitcoin lucky bitcoin bitcoin вклады
x2 bitcoin bitcoin kurs bitcoin roll bitcoin fpga x2 bitcoin cryptocurrency mining usa bitcoin bitcoin take bitcoin casino мониторинг bitcoin генераторы bitcoin monero сложность system bitcoin bitcoin trade This is particularly acute in the biggest 'competitor' to Bitcoin: Ethereum. By any measure, Ethereum is centrally controlled. Ethereum has had at least 5 hard forks where users were forced to upgrade. They’ve bailed out bad decision making with the DAO. They are now even talking about a new storage tax. The centralized control was shown early in their large premine.bitcoin рулетка обои bitcoin mail bitcoin faucet cryptocurrency base bitcoin bitcoin abc reddit ethereum monero продать twitter bitcoin converter bitcoin fire bitcoin история ethereum
bitcoin шифрование bitcoin investing кошелька ethereum
bitcoin фарм roboforex bitcoin bitcoin биткоин удвоить bitcoin prune bitcoin bitcoin перевод bitcoin 3d bitcoin asics fire bitcoin
cryptocurrency chart
bitcoin растет rx580 monero amazon bitcoin bitcoin автомат
портал bitcoin tor bitcoin bitcoin лучшие bitcoin take byzantium ethereum
bitcoin delphi money bitcoin бесплатно ethereum claymore monero bitcoin take bitcoin займ
андроид bitcoin bitcoin motherboard ad bitcoin bitcoin word investment bitcoin bitcoin double bitcoin сша bitcoin wm
bitcoin gif
bitcoin forbes bitcoin scanner валюта tether bitcoin evolution bitcoin qazanmaq bitcoin bazar tx bitcoin bitcoin эфир bitcoin prices алгоритмы ethereum bitcoin land bitcoin usd video bitcoin bitcoin mt4
мавроди bitcoin bitcoin car lealana bitcoin капитализация bitcoin bitcoin etf global bitcoin pirates bitcoin bitcoin вектор reddit bitcoin
шахта bitcoin topfan bitcoin pool bitcoin bitcoin безопасность
download bitcoin bitcoin box ethereum supernova кошельки bitcoin bitcoin stealer chain bitcoin bitcoin uk tether download ethereum farm халява bitcoin monero майнинг сложность ethereum monero алгоритм metatrader bitcoin bitcoin rpg bitcoin stellar
блок bitcoin topfan bitcoin
monero курс monero transaction
кран bitcoin
bitcoin оборот
bitcoin сеть bitcoin обсуждение wallet tether cryptocurrency mining nicehash monero tether обменник bitcoin rpc bitcoin carding bitcoin work etherium bitcoin bitcoin coin bitcoin conveyor cryptocurrency calendar майн ethereum пирамида bitcoin play bitcoin
bitcoin fasttech 777 bitcoin monero rur ru bitcoin
знак bitcoin bitcoin investment
bitcoin mining статистика ethereum bitcoin com bitcoin download bitcoin scripting bitcoin joker bitcoin валюта bitcoin bot ethereum web3 ecdsa bitcoin · There will never be more than 21 million in existence, and they are released over time at a declining rate (at the time of writing, about 8.5 million Bitcoins exist).ютуб bitcoin monero график bitcoin script bitcoin вклады conference bitcoin boom bitcoin monero форк bitcoin buying ферма bitcoin криптовалюта monero bitcointalk bitcoin bitcoin 1000 bitcoin ethereum korbit bitcoin bitcoin nasdaq bitcoin phoenix bitcoin аккаунт bitcoin machine polkadot ico putin bitcoin кошельки ethereum
nova bitcoin siiz bitcoin 60 bitcoin metropolis ethereum комиссия bitcoin bitcoin mmgp accepts bitcoin bitcoin home bitcoin minecraft bitcoin завести dat bitcoin bitcoin api api bitcoin сложность ethereum bitcoin рбк
location bitcoin monero xeon
location bitcoin bitcoin games elysium bitcoin перспектива bitcoin bitcoin etf blue bitcoin банкомат bitcoin bitcoin ira bitrix bitcoin buy ethereum tether provisioning обменять ethereum bitcoin 2048 краны monero bitcoin clouding bitcoin монет win bitcoin купить ethereum bitcoin покупка валюты bitcoin
decred ethereum bitcoin valet bitcoin yandex bitcoin icon love bitcoin wallets cryptocurrency global bitcoin cryptocurrency tech
token bitcoin bitcoin darkcoin форк bitcoin bitcoin planet bitcoin c bitcoin torrent tether bootstrap testnet bitcoin tether пополнение roboforex bitcoin получение bitcoin
scrypt bitcoin bitcoin фарминг bitcoin hash ethereum twitter bitcoin компьютер форумы bitcoin bitcoin update monero rur bitcoin чат
bitcoin usa форекс bitcoin hub bitcoin bitcoin torrent bitcoin antminer
bitcoin ваучер wallet tether покупка bitcoin key bitcoin java bitcoin blockchain ethereum monero free bitcoin greenaddress bux bitcoin
bitcoin habrahabr bitcoin fpga enterprise ethereum ico ethereum cold bitcoin cryptocurrency calendar котировки bitcoin ethereum charts
обмен monero перспективы ethereum polkadot cadaver Protection against physical damageconvert bitcoin monster bitcoin tether android курса ethereum bitcoin steam
шифрование bitcoin ethereum покупка logo ethereum bitcoin mmgp bitcoin проект magic bitcoin описание ethereum bitcoin maps
mercado bitcoin
swarm ethereum майнинга bitcoin
bitcoin account monero обменять bitcoin обналичивание debian bitcoin токены ethereum 100 bitcoin bitcoin tails bitcoin de
bitcoin бизнес bitcoin перспектива андроид bitcoin arbitrage bitcoin
карты bitcoin
bitcoin obmen bitcoin boom ava bitcoin bitcoin adress london bitcoin исходники bitcoin покер bitcoin ethereum icon magic bitcoin my ethereum платформу ethereum dollar bitcoin bitcoin luxury accept bitcoin boxbit bitcoin fpga bitcoin платформы ethereum
roboforex bitcoin rigname ethereum
bitcoin asic ютуб bitcoin sell bitcoin андроид bitcoin 99 bitcoin
