The Ultimate Guide To Other Coins Like Bitcoin
This payment method guarantees payments and leaves the miners with very little risk of not being paid for their contribution. The downside of this scheme is the high fees the pool owners charge, to mitigate the risk they take by paying regularly.
Proportional: Just like in PPS, miners distribute stocks along the block finding period. The more hashing energy you've got and the longer you mined for the block, the more stocks you submitted. Once a block is found, the pool pay the miners according to the amount of shares they obtained.
But in this payment system, the value that you will receive for each share will equal the block benefits divided by the entire number of shares filed by all miner. This means that the more miners that join the pool, the lower the value of each share you recieve.
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Score-based: This payment method was designed to prevent miners from pool-hopping. Your mining time and hashing power are calculated into a scoring hash rate score. The longer you stay on the pool, the higher your score is and the higher the value of the  stocks you get. Once you stop mining, your score gets smaller and the value of your stocks drop accordingly.
Pay per standard N Shares (PPLNS): In PPLNS, miners only get paid for stocks received during a predefined window which ends in the block solving. Unlike other payment schemes, stocks received outside of the window will not be rewarded at all. This window can either be defined as a time frame (uncommon), or by a certain number (N) that represents the last shares received up to the block solving. .
By way of instance, if N equals 1 Billion, once a block is found only the previous 1 Billion shares will be rewarded. While not defined anywhere explicitly, N is usually set as a multiple of this mining pool difficulty with a constant, typically 2.
For this reason, PPLNS is also called Pay per Luck Shares. When implemented correctly, miners cant predict the ideal time to join, so that they can either get higher rewards when they must receive more stocks within the previous N shares, or find no reward at all when 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 ahead of time. Founded by SatoshiLabs current CEO Marek Palatinus (aka Slush), its located in the Czech Republic and follows a score-based method to discourage pool-hopping.
This really is a medium-large sized pool. SlushPool asserts a 2% fee from each block solving benefit. SlushPools dashboard is quite user friendly and gives excellent detail with regular upgrades. While it may not be the biggest of the Bitcoin mining pools, its certainly considered one of the best.
Antpool is a Chinese Bitcoin mining pool run by Bitmain Technologies. It is medium in size. One advantage Antpool has is that you can choose between PPLNS (0% commission ) and PPS+ (2% fee), each of which have their own advantages.
In regard to payments, theyre made once per day when the amount exceeds 0.001 Bitcoin. Those new to Bitcoin mining will love the clean interface. The dashboard clearly shows earnings and hashrates. Additionally, there are many different security informative post 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 the largest pool around, this article in the time of writing. BTC.com have their own payment system, 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 situated in 2013. Operating a PPS+ reward program, F2Pool requires a 2.5% fee, which is a bit on the large side.
Also known as KanoPool, Kano CKPool was founded in 2014. This small Bitcoin mining pool provides PPLNS payment model, charging a 0.9% commission.
With respect to payout, per each block found you will need to wait +101 block confirmations to get paid, which might take a while.
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This is a relatively simple pool with an interface which could do with an upgrade as its not the most user friendly. It additional reading doesnt have much in the way of features, but it will possess two-factor authentication for an extra layer of safety.