What is a mining pool and why is it best to mine Bitcoin and other cryptocurrencies on mining pools? Here is our review and explanation of mining pools, how they came to be, and why they’re awesome! Subscribe to VoskCoin for more crypto content –
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Mining pools are a collection of Bitcoin and other cryptocurrency miners that are literally pooling their miners and thus hashrate together in order to receive more consistent mined coins and earnings. Mining pools were originally created by Slushpool, and since then thousands of mining pools have been created for thousands of mineable cryptocurrencies. However not all mining pools are created equal, and mining pools also pay miners out in different manners. Some mining pools pay miners through PPS which is Pay Per Share mining, and other mining pools pay miners through PPLNS Pay Per Last N Shares which pays miners a % of the block reward once a block is “found” or mined. In addition to PPS and PPLNS payout schemes, there are other less popular payout options such as solo mining and PROP mining. Mining pools have become an integral part of Bitcoin and cryptocurrency mining, so here is our review on Bitcoin and other cryptocurrency mining pools, what are the best mining pool types, what to look for, and what to look out for!
Links!
Luxor’s write-up on PPS vs PPLNS mining pools –
Slushpools original & first Bitcoin mining pool –
Miningpoolstats.stream – best mining pool info site –
Bitcoin BTC block reward halving countdown –
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