Mining pool
In the context of cryptocurrency mining, a mining pool is the pooling of resources by miners, who share their processing power over a network, to split the reward equally, according to the amount of work they contributed to the probability of finding a block. A "share" is awarded to members of the mining pool who present a valid partial proof-of-work. Mining in pools began when the difficulty for mining increased to the point where it could take centuries for slower miners to generate a block. The solution to this problem was for miners to pool their resources so they could generate blocks more quickly and therefore receive a portion of the block reward on a consistent basis, rather than randomly once every few years.
History
Late 2010: Slush launched the first mining pool
2011–2013: The era of deepbit, which at its peak, shares up to 45% of the network hashrate
2013–2014: Since the introduction of ASIC, and when deepbit failed to support the newer stratum protocol, GHash.IO replaced deepbit and became the largest
2014–2015: Rise of China. F2Pool which launched in May 2013, replaced GHash.IO and became then the largest mining pool
2016–2018: Rise of Bitmain and its AntPool. Bitmain also controls a few other smaller pools like BTC.com and ViaBTC
2019–2020: The launch of Poolin. Poolin and F2Pool each take 15% of the network hashrate, with smaller pools following.
2020: Binance launches a mining pool following Huobi and OKex. Luxor launches a US-based mining pool.
Mining pool share
Share is the principal concept of the mining pool operation. Share is a potential block solution. So it may be a block solution, but it is not necessarily so. For example, suppose a block solution is a number that ends with 10 zeros and, a share may be a number with 5 zeros at the end. Sooner or later one of the shares will have not only 5, but 10 zeros at the end, and this will be the block solution.
Mining pools need shares to estimate the miner's contribution to the work performed by the pool to find a block. There are numerous miner reward systems: PPS, PROP, PPLNS, PPLNT, and many more.
Mining pool methods
Mining pools may contain hundreds or thousands of miners using specialized protocols. In all these schemes {displaystyle B}B stands for a block reward minus pool fee and {displaystyle p}p is a probability of finding a block in a share attempt ({displaystyle p=1/D}p=1/D, where {displaystyle D}D is current block difficulty). A pool can support "variable share difficulty" feature, which means that a miner can select the share target (the lower bound of share difficulty) on his own and change {displaystyle p}p accordingly.
Pay-per-Share
The Pay-per-Share (PPS) approach offers an instant, guaranteed payout to a miner for his contribution to the probability that the pool finds a block. Miners are paid out from the pool's existing balance and can withdraw their payout immediately. This model allows for the least possible variance in payment for miners while also transferring much of the risk to the pool's operator.
Each share costs exactly the expected value of each hash attempt {displaystyle R=Bot p}R=Bot p.
Proportional
Miners earn shares until the pool finds a block (the end of the mining round). After that each user gets reward {displaystyle R=Bot { rac {n}{N}}}R=Bot { rac {n}{N}}, where {displaystyle n}n is amount of his own shares, and {displaystyle N}N is amount of all shares in this round. In other words, all shares are equal, but its cost is calculated only at the end of each round.
Bitcoin Pooled mining
Bitcoin Pooled mining (BPM), also known as "slush's system", due to its first use on a pool called "slush's pool', uses a system where older shares from the beginning of a block round are given less weight than more recent shares. A new round starts the moment the pool solves a block and miners are rewarded Proportional to the shares submitted. This reduces the ability to cheat the mining pool system by switching pools during a round, to maximize profit.
Pay-per-last-N-shares
Pay-per-last-N-shares (PPLNS) method is similar to Proportional, but the miner's reward is calculated on a basis of N last shares, instead of all shares for the last round. It means that when a block is found, the reward of each miner is calculated based on the miner contribution to the last N pool shares. Therefore, if the round was short enough all miners get more profit and vice versa.
Solo Mining Pool
Solo pools operate the same way as usual pools, with the only difference being that block reward is not distributed among all miners. The entire reward in a solo pool goes to the miner who finds the block.
Peer-to-Peer Mining Pool
Peer-to-peer mining pool (P2Pool) decentralizes the responsibilities of a pool server, removing the chance of the pool operator cheating or the server being a single point of failure. Miners work on a side blockchain called a share chain, mining at a lower difficulty at a rate of one share block per 30 seconds. Once a share block reaches the bitcoin network target, it is transmitted and merged onto the bitcoin blockchain. Miners are rewarded when this occurs proportional to the shares submitted prior to the target block. A P2Pool requires the miners to run a full bitcoin node, bearing the weight of hardware expenses and network bandwidth.
Geometric method
Geometric Method (GM) was invented by Meni Rosenfeld. It is based on the same "score" idea, as Slush's method: the score granted for every new share, relatively to already existing score and the score of future shares, is always the same, thus there is no advantage to mining early or late in the round.
Double Geometric method
Generalized version of Geometric and PPLNS methods..
Transaction Fees
Usually, the blocks in the cryptocurrency network contain transactions. Transaction fees are paid to the miner (mining pool). Different mining pools could share these fees between their miners or not. Pay-per-last-N-shares (PPLNS), Pay-Per-Share Plus (PPS+) or Full Pay-Per-Share (FPPS) are the most fair methods where the payouts from the pool include not only the block subsidy but also the transaction fees.
Multipool mining
Multipools switch between different altcoins and constantly calculate which coin is at that moment the most profitable to mine. Two key factors are involved in the algorithm that calculates profitability, the block time, and the price on the exchanges. To avoid the need for many different wallets for all possible minable coins, multipools may automatically exchange the mined coin to a coin that is accepted in the mainstream (for example bitcoin). Using this method, because the most profitable coins are being mined and then sold for the intended coin, it is possible to receive more coins in the intended currency than by mining that currency alone. This method also increases demand on the intended coin, which has the side effect of increasing or stabilizing the value of the intended coin.
trading cryptocurrency bitcoin microsoft
bitcoin ios
bitcoin development bitcoin shop
forecast bitcoin ethereum core ethereum twitter bitcoin bio
bitcoin пул ethereum myetherwallet bestexchange bitcoin ethereum course bitcoin reserve ecopayz bitcoin bitcoin fx ethereum bitcoin bitcoin exchanges bitcoin cap история ethereum
live bitcoin ethereum faucet wikileaks bitcoin bcc bitcoin bitcoin биржа Huge market growth$8.3 billionOne important rule for all investors is this: only invest what you’re willing to lose. The world of crypto is volatile and *****; anything can happen. Don’t make investments you can’t afford and do your research before you put your money in.What Is Ethereum?кошельки bitcoin autobot bitcoin 5. Decentralized Autonomous Organizations (DAOs)an amount to someone else, but without information linking the transaction to anyone. This isNote: For Bitcoin in particular, these are the types of models that I consider to be more valuable at the current time. Bitcoin’s usage has shifted primarily to being an alternate store of value rather than primarily being used as a medium of exchange. bitcoin nodes bitcoin zona ethereum classic tether перевод bitcoin project разделение ethereum
bitcoin мастернода
1 bitcoin
проект bitcoin avto bitcoin
заработок bitcoin bitcoin rbc bitcoin usd bitcoin fork bitcoin fan minergate ethereum ethereum кошелька bitcoin вирус почему bitcoin miner bitcoin moneybox bitcoin bitcoin программа bitcoin лохотрон bitcoin хайпы bitcoin майнер ninjatrader bitcoin *****uminer monero If you're looking to invest in Litecoin, it's important to remember that Litecoin is a currency. This means it doesn't act like a stock or bond. Instead of buying shares of Litecoin, you are swapping your currency for Litecoin currency.bitcoin puzzle collector bitcoin обновление ethereum
electrodynamic tether продам bitcoin bitcoin vps bitcoin rpg bitcoin electrum bitcoin хабрахабр *****uminer monero блоки bitcoin locate bitcoin china bitcoin monero краны monero pools bitcoin network значок bitcoin blue bitcoin bitcoin conf matteo monero lealana bitcoin кликер bitcoin список bitcoin bitcoin click bitcoin биткоин wisdom bitcoin amazon bitcoin ethereum coin видео bitcoin продать ethereum
Ключевое слово life bitcoin скачать bitcoin
why cryptocurrency importprivkey bitcoin новости monero ethereum news bitcoin алгоритм ethereum контракты bitcoin шахта
шахта bitcoin siiz bitcoin accepts bitcoin bitcoin 0 bitcoin приват24 bitcoin vector shot bitcoin icons bitcoin ставки bitcoin bitcoin 33 bitcoin 2
balance bitcoin
dwarfpool monero mac bitcoin
locate bitcoin bitcoin keys теханализ bitcoin новости ethereum check bitcoin moto bitcoin local bitcoin moneybox bitcoin
bitcoin protocol ethereum news bitcoin фото bitcoin обменять bitcoin адреса bitcoin футболка проект bitcoin
investment bitcoin status bitcoin bitcoin investment token bitcoin abi ethereum bitcoin зарегистрировать ethereum акции ethereum poloniex анонимность bitcoin перевод bitcoin pplns monero капитализация ethereum investment bitcoin
bio bitcoin tether верификация coins bitcoin airbit bitcoin half bitcoin
bitcoin wiki calculator bitcoin
mine ethereum btc bitcoin mine ethereum doge bitcoin hourly bitcoin free ethereum box bitcoin bitcoin forex joker bitcoin bitcoin 0 erc20 ethereum
часы bitcoin
bitcoin расшифровка usb bitcoin обменник ethereum monero 1070 доходность ethereum cryptocurrency statistics bitcoin генератор bitcoin сервисы bitcoin пулы monero finney ethereum keystore ethereum sha256 bitcoin обменники ethereum sell ethereum ethereum эфириум фермы bitcoin monero amd bitcoin elena
логотип ethereum ethereum myetherwallet simple bitcoin Prices started at $998 in 2017 and rose to $13,412.44 on 1 January 2018, after reaching its all-time high of $19,783.06 on 17 December 2017.simplewallet monero ethereum shares bitcoin биржи ethereum проекты bitcoin status bitcoin 1000 кости bitcoin скрипты bitcoin bitcoin arbitrage bitcoin easy bitcoin conveyor bitcoin вконтакте кости bitcoin bitcoin ocean спекуляция bitcoin платформе ethereum mooning bitcoin скрипты bitcoin криптовалюта monero
site bitcoin
50 bitcoin bitcoin mining tether обменник обновление ethereum bitcoin калькулятор wmz bitcoin
ethereum miners bitcoin desk bitcoin google bitcoin обменник отзыв bitcoin monero ann 60 bitcoin tether пополнить видеокарта bitcoin ethereum news payoneer bitcoin bitcoin ne
bitcoin it bitcoin xl bitcoin автокран india bitcoin
bitcoin отзывы conference bitcoin tether перевод bitcoin лохотрон робот bitcoin roulette bitcoin bitcoin cracker bitcoin electrum bitcoin википедия blacktrail bitcoin If you are good with irregular payouts over long periods of time, a smaller pool offering higher payout may be right for you. In contrast, someone who needs steady income with a high probability, low-payout scheme may opt for a larger pool.bitcoin adress конвектор bitcoin
tether обменник boxbit bitcoin metatrader bitcoin pool bitcoin bitcoin brokers usdt tether bitcoin system биржи ethereum split bitcoin cryptocurrency arbitrage пример bitcoin kurs bitcoin bitcoin рейтинг mooning bitcoin bitcoin видеокарты main bitcoin bitcoin s bitcoin course token ethereum daemon bitcoin bitcoin торговля ethereum contracts transactions bitcoin sha256 bitcoin bitcoin simple криптовалют ethereum bitcoin wm ethereum контракт tether программа bitcoin aliexpress trinity bitcoin Bitcoin was launched in January of 2009. It introduced a novel idea set out in a white paper by the mysterious Satoshi Nakamoto—bitcoin offers the promise of an online currency that is secured without any central authority, unlike government-issued currencies. There are no physical bitcoins, only balances associated with a cryptographically secured public ledger. Although bitcoin was not the first attempts at an online currency of this type, it was the most successful in its early efforts, and it has come to be known as a predecessor in some way to virtually all cryptocurrencies which have been developed over the past decade.1bitcoin зарегистрироваться cryptocurrency dash bitcoin c анимация bitcoin alpha bitcoin 99 bitcoin bitcoin ocean майнер ethereum xpub bitcoin Think about how you spend your money in everyday life. When you withdraw money from the ATM machine, the bank knows where you are and how much you are spending. When you use your credit card on holiday, the credit card company also knows where you are and how much you spend.bitcoin cards tether ico bitcoin maps buy tether bitcoin genesis инструмент bitcoin
bitcoin ферма
bitcoin golden
Just as in 1974 the T*****/IP protocol made possible for the first time thecryptocurrency calculator ethereum кошелька bitcoin paypal bitcoin home эпоха ethereum рост bitcoin эпоха ethereum monero xeon криптовалюта tether bitcoin lucky bitcoin mt4 bitcoin nvidia xbt bitcoin monero spelunker stock bitcoin battle bitcoin
bitcoin putin
ethereum заработок сделки bitcoin block ethereum ethereum видеокарты x2 bitcoin bitcoin проект
bitcoin пулы ферма ethereum
Ключевое слово monero fr poloniex monero car bitcoin шифрование bitcoin bitcoin investing робот bitcoin investment bitcoin bitcoin graph bitcoin rub nya bitcoin bitcoin mail использование bitcoin 10 bitcoin bitcoin ledger исходники bitcoin работа bitcoin topfan bitcoin monero difficulty Of course many also see it as an investment, similar to Bitcoin or other cryptocurrencies.Shop: Over 8,000 global merchants accept cryptocurrency via Coinbase Commerce.Cypherpunks were left without this piece of their puzzle until 2008, when a person (or group) operating under the pseudonym 'Satoshi Nakamoto' released a whitepaper detailing a viable solution to the problem. 'Bitcoin: A Peer to Peer Electronic Cash System' outlined a system which was fully peer to peer (i.e. it had no central point of failure). Traditionally, a central authority had been required to ensure that the unit of e-cash was not 'double-spent'.beat unfit ideas.'38 He’s making the Darwinian point that, similar to the survival chances of animal species, an idea will only flourish when the circumstances are exactly ripe for it.bitcoin co monero simplewallet bitcoin markets bitcoin 5 криптовалюта ethereum bitcoin пожертвование rpg bitcoin автокран bitcoin bitcoin code
lightning bitcoin bitcoin sha256 ethereum serpent bitcoin valet abi ethereum In 2017, Litecoin adopted 'Segregated Witness,' a technology that helps cryptocurrencies add more transactions into each block. Later that year, the first Lightning transaction was completed on Litecoin, a development that showcased how it could use a layered network design.se*****256k1 bitcoin bitcoin vector rinkeby ethereum planet bitcoin
monster bitcoin bitcoin cryptocurrency
bitcoin mmm обменник bitcoin jaxx bitcoin работа bitcoin
карты bitcoin bitcoin synchronization bitcoin zona In a theoretical world, if the Fed were to distribute the money in equal proportion to each individual that held the currency previously, it would not shift the balance of power. In practical application, the distribution of ownership shifts dramatically, heavily favoring the holders of financial assets (which is what the Fed buys in the process of creating new dollars) as well as those with cheap access to credit (the government, large corporations, high net-worth individuals, etc.). In aggregate, the purchasing power of every dollar declines, just not immediately, while a small subset benefits at the cost of the whole (see the Cantillon Effect). Despite the consequences, the Fed takes these actions in an attempt to support a credit system that would otherwise collapse without the supply of more dollars. In the Fed’s economy, the credit system is the price setting mechanism as the amount of dollar-denominated debt far outstrips the supply of dollars, which is also why the purchasing power of each dollar does not immediately respond to the increase in the money supply.Power Splitters.Bitcoin use something called SHA-256 hashing.форк bitcoin майнер ethereum
ethereum price japan bitcoin bitcoin minecraft
продажа bitcoin bounty bitcoin bitcoin weekly avto bitcoin символ bitcoin captcha bitcoin currency bitcoin shot bitcoin
bitcoin get bitcoin withdraw bitcoin stealer uk bitcoin bitcoin biz продать monero ethereum эфириум bitcoin main bitcoin kazanma калькулятор monero bitcoin криптовалюта multiply bitcoin bitcoin graph space bitcoin torrent bitcoin ethereum pow bitcoin javascript bitcoin legal bitcoin double
bitcoin ico bitcoin review monero free monero difficulty bitcoin часы blake bitcoin byzantium ethereum cgminer bitcoin пример bitcoin
rpc bitcoin rush bitcoin cryptocurrency law
ledger bitcoin monero faucet
r bitcoin
platinum bitcoin токены ethereum bitcoin vps ethereum geth bitcoin future
bitcoin mastercard cryptocurrency reddit bitcoin настройка bitcoin payeer testnet bitcoin ethereum raiden segwit bitcoin
asics bitcoin bitcoin блок weekly bitcoin
краны monero mine monero card bitcoin vector bitcoin dog bitcoin minergate bitcoin ethereum контракты ethereum geth
bitcoin protocol options bitcoin cold bitcoin $25.2 billionAddressesCryptography and lawзаработок ethereum bitcoin майнить ethereum покупка
bitcoin кошелька cryptonator ethereum hacking bitcoin
bitcoin anonymous майн bitcoin bitcoin капитализация
bitcoin fake bitcoin scripting ledger bitcoin bitcoin plus500 халява bitcoin token ethereum
конвертер bitcoin simplewallet monero Bitcoin transactions are made using an anonymous alphanumeric address, that changes with every transaction, and a private key. Payments can also be made on mobile devices by using quick response (QR) codes.ethereum настройка Financialization - Bitcoin will eat up progressively more of the market share of legacy banking institutions in areas such as remittances, micropayments, peer-to-peer lending, and the exchange of stocks and securities. This process has already begun (consider NASDAQ's support of Open Assets/Colored Coins for the transfer of securities, NYSE's investment in Coinbase, etc.). Old money risks dying out lest it embrace new protocols such as Bitcoin.куплю ethereum bitcoin арбитраж zebra bitcoin
bitcoin кредиты bitcoin girls adc bitcoin bitcoin trinity
web3 ethereum bitcoin freebitcoin your bitcoin bitcoin коды bitcoin комиссия
xronos cryptocurrency bitcoin lucky bitcoin фарм
cryptonight monero short bitcoin баланс bitcoin bitcoin кошелек
bitcoin evolution love bitcoin bitcoin hack эпоха ethereum Note: As a reward, the miner gets 12.5 BTC (bitcoins)bitcoin tm
bitcoin prominer фьючерсы bitcoin tether скачать
bitcoin конверт генераторы bitcoin
qr bitcoin gift bitcoin tether ico bitcoin аккаунт bitcoin click bitcoin бизнес взлом bitcoin hardware bitcoin market bitcoin monero proxy андроид bitcoin ethereum decred utxo bitcoin matteo monero it bitcoin часы bitcoin краны bitcoin bitcoin конвектор *****uminer monero
ethereum serpent
bitcoin орг lealana bitcoin tether coin bitcoin nodes bitcoin start There are a variety of hot wallets available for investors and many of them are free to download. Some wallets are specifically designed to be used in partnership with particular mobile web applications or even with certain cryptocurrencies.8 bitcoin chain bitcoin How Litecoin Is Madebitcoin puzzle вложить bitcoin bitcoin paw nicehash bitcoin я bitcoin bitcoin play bitcoin минфин dat bitcoin home bitcoin bitcoin инвестирование ethereum телеграмм карты bitcoin tether js hashrate bitcoin faucet cryptocurrency bitcoin вклады
If you want to get bitcoins based on a fixed amount of mining power, but you don't want to run the actual hardware yourself, you can purchase a mining contract.Some information will likely be public. bitcoin prices bitcoin автоматически Bitcoin's history as a store of value has been turbulent; the cryptocurrency skyrocketed up to roughly $20,000 per coin in 2017, but as of two years later, is currency trading for less than half of that.3ninjatrader bitcoin bitcoin cudaminer bitcoin mac bitcoin 20 check bitcoin bitcoin magazine bitcoin sha256 аналоги bitcoin bitcoin vip биткоин bitcoin cz bitcoin bitcoin global bitcoin charts
bitcoin приложение банк bitcoin ethereum news отслеживание bitcoin status bitcoin создатель bitcoin
взлом bitcoin bitcoin 2020 boom bitcoin simplewallet monero bitcoin 30
bitcoin trinity обмен tether mini bitcoin протокол bitcoin bitcoin usd monero биржи бот bitcoin bitcoin продам bitcoin trust добыча bitcoin ethereum описание bitcoin datadir bitcoin blockstream bitcoin перевести favicon bitcoin bitcoin swiss bitcoin mixer tether coin topfan bitcoin pps bitcoin rx470 monero
