8 Easy Facts About Other Coins Like Bitcoin Described
This payment system guarantees payments and leaves the miners with very little risk of not being paid for their contribution. The downside of this scheme is that the high fees that the pool owners bill, to mitigate the risk they take by paying frequently.
Proportional: Just like in PPS, miners submit stocks along the block finding period. The more hashing energy you've got and the longer you mined to your block, the more shares you submitted. Once a cube is found, the pool cover the miners according to the amount of shares they obtained.
However in this payment system, the value that you will receive for each share will equal the block rewards divided by the total number of shares filed 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 period and hashing power are calculated into a scoring hash rate score. The longer you remain on the pool, the higher your score is and the greater the value of the  stocks you receive. Once you stop mining, your score gets smaller and the value of your stocks drop accordingly.
Pay per Last N Shares (PPLNS): In PPLNS, miners only get paid for shares received during a predefined window which ends in the block solving. Unlike other payment schemes, shares received outside of the window will not be rewarded in any way. This window can either be defined as a period frame (uncommon), or with a certain number (N) that represents the last stocks received up into the block solving. .
By way of instance, if N equals 1 Billion, once a block is found only the last 1 Billion shares will be rewarded. While not defined anywhere explicitly, N is generally set as a multiple of this mining pool official site difficulty using a constant, usually 2.
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 must receive more shares within the previous N stocks, 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 to come. Founded by SatoshiLabs current CEO Marek Palatinus (aka Slush), its based in the Czech Republic and follows a score-based method to dissuade pool-hopping.
This really is a medium-large sized pool. SlushPool asserts a 2% commission from every block solving reward. SlushPools dashboard is very user friendly and gives excellent detail with regular upgrades. While it may not be the biggest of those Bitcoin mining pools, its certainly considered one of the best.
Antpool is a Chinese Bitcoin mining pool operated by Bitmain Technologies. It is moderate in size. One advantage Antpool has is that you can pick between PPLNS (0% commission ) and PPS+ (2% fee), both of which have their own advantages.
In regard to payments, theyre created once daily if the amount exceeds 0.001 Bitcoin. Those new to Bitcoin mining will appreciate the clean interface. The dashboard clearly shows earnings and hashrates. There are also a variety of security options, including two-factor authentication, email alerts, and pocket 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, in the time of writing. BTC.com possess their own payment method, FPPS, which like PPS+ include TX charges in the payouts, along with the block reward.
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F2Pool is a medium-large pool established in 2013. Operating a PPS+ reward program, F2Pool takes a Full Report 2.5% commission, which is somewhat on the large side.
Also known as KanoPool, Kano CKPool was founded in 2014. This little Bitcoin mining pool provides PPLNS payment model, charging a 0.9% fee.
With regard to payout, per each block found you will need to wait for +101 block confirmations to get paid, which might take some time.
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This is a comparatively straightforward pool with an interface which could do with an upgrade as its not the most user friendly. It doesnt have much in the way of features, but it will have two-factor authentication to get an additional layer of safety.