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.
bitcoin сегодня bitcoin telegram bitcoin значок bitcoin кредит nvidia bitcoin bitcoin crush
баланс bitcoin
bitcoin goldman free bitcoin приложения bitcoin bitcoin center
up bitcoin bitcoin electrum
bitcoin 99 bitcoin planet bitcoin 10 flex bitcoin ethereum акции автокран bitcoin blacktrail bitcoin мастернода bitcoin kupit bitcoin options bitcoin ethereum swarm bitcoin plugin bitcoin gpu криптовалют ethereum bitcoin games майнинг monero ставки bitcoin amazon bitcoin home bitcoin технология bitcoin
bitcoin вложить торговать bitcoin депозит bitcoin криптовалют ethereum wired tether trinity bitcoin proxy bitcoin hourly bitcoin bitcoin unlimited bitcoin лохотрон 1000 bitcoin bitcoin рейтинг создатель bitcoin
ethereum курсы bitcoin plus500 cryptonator ethereum bitcoin bow location bitcoin iso bitcoin bitcoin generation bitcoin vip ethereum alliance
bitcoin hunter форк bitcoin bitcoin easy trezor bitcoin
bitcoin car
tether wifi обвал bitcoin bitcoin symbol bitcoin fast ethereum blockchain zebra bitcoin bitcoin etf coin bitcoin bitcoin download adc bitcoin автомат bitcoin сатоши bitcoin автомат bitcoin bitcoin arbitrage история ethereum bitcoin куплю monero minergate bitcoin ledger And that’s where bitcoin miners come in. Performing the cryptographic calculations for each transaction adds up to a lot of computing work. Miners use their computers to perform the cryptographic work required to add new transactions to the ledger. As a thanks, they get a small amount of cryptocurrency themselves.bitcoin кранов bitcoin convert #15 Stock tradingBitcoin is almost three times more expensive but also the most well-known cryptocurrency in the world.tera bitcoin майнинга bitcoin bitcoin home tether usdt мастернода ethereum mastercard bitcoin bitcoin register использование bitcoin проекта ethereum bitcoin novosti оборот bitcoin bitcoin crash bitcoin update капитализация bitcoin зарабатывать bitcoin bitcoin монета арбитраж bitcoin nvidia bitcoin bitcoin monero litecoin bitcoin billionaire bitcoin bitcoin rig bitcoin c
bitcoin ферма lightning bitcoin airbit bitcoin bitcoin lucky
monero transaction the ethereum ethereum logo динамика ethereum кредиты bitcoin bitcoin торги bitcoin надежность source bitcoin erc20 ethereum importprivkey bitcoin
Monero uses an unusual method of transaction broadcast propagation to obscure the IP address of the device broadcasting the transaction. The signed transaction is initially passed to only one node and a probablistic method is used to determine when a new signed transaction should be broadcast to all nodes as normal.bitcoin заработок ethereum stratum шахты bitcoin
bitcoin exchanges apple bitcoin algorithm bitcoin ethereum investing bitcoin tx
пул monero
bitcoin проблемы status bitcoin bitcoin ann click bitcoin отзыв bitcoin blogspot bitcoin bitcoin now lightning bitcoin
fee bitcoin ethereum io бесплатный bitcoin free bitcoin bag bitcoin серфинг bitcoin автомат bitcoin bazar bitcoin ethereum fork polkadot ico monero краны
bitcoin ira bitcoin utopia red bitcoin bitcoin зарабатывать bitcoin суть bitcoin рейтинг ethereum сбербанк reddit bitcoin отзыв bitcoin ethereum телеграмм bitcoin cards bitcoin информация спекуляция bitcoin bitcoin minergate поиск bitcoin
bitcoin конец secp256k1 ethereum bitcoin paw ethereum fork ethereum калькулятор bitcoin ecdsa us bitcoin bitcoin video платформе ethereum кошелька bitcoin список bitcoin депозит bitcoin bitcoin криптовалюта cpuminer monero bitcoin магазины bitcoin biz bistler bitcoin future bitcoin information bitcoin обменник ethereum monero nvidia bitcoin кэш bitcoin world
основатель ethereum pool bitcoin почему bitcoin 60 bitcoin bitcoin 9000
blitz bitcoin
bitcoin atm форк ethereum bitcoin explorer air bitcoin all cryptocurrency monero gui bitcoin hub blender bitcoin bitcoin ruble bitcoin drip bitcoin ethereum Image for postThe main problem with all these schemes is that proof of work schemes depend on computer architecture, not just an abstract mathematics based on an abstract 'compute cycle.' (I wrote about this obscurely several years ago.) Thus, it might be possible to be a very low cost producer (by several orders of magnitude) and swamp the market with bit gold. However, since bit gold is timestamped, the time created as well as the mathematical difficulty of the work can be automatically proven. From this, it can usually be inferred what the cost of producing during that time period was.ethereum cryptocurrency bitcoin количество vpn bitcoin poloniex ethereum information bitcoin bitcoin 1000 joker bitcoin bitcointalk ethereum ethereum calc баланс bitcoin bitcoin blue bitcoin uk mini bitcoin xbt bitcoin copay bitcoin cryptocurrency gold dwarfpool monero
bitcoin conference bitcoin выиграть fee bitcoin foto bitcoin системе bitcoin bitcoin fees
bitcoin китай bitcoin ledger конвертер bitcoin tether майнинг bitcoin de вход bitcoin bitcoin moneypolo шахты bitcoin
ethereum ann окупаемость bitcoin platinum bitcoin зарегистрироваться bitcoin ethereum бесплатно
знак bitcoin I have also spoken about five key industries that would benefit from blockchain technology. Do you agree with me, or can you think of some better ones? Whatever your opinion is, let me know in the comments section below! I just hope you aren’t still wondering what is blockchain!Monero Mining: What is Monero (XMR)ropsten ethereum прогнозы bitcoin компания bitcoin
bitcoin рынок bitcoin markets пожертвование bitcoin mine monero анимация bitcoin tether 2 е bitcoin tether перевод bitcoin 2048 secp256k1 ethereum заработка bitcoin bitcoin instant трейдинг bitcoin proxy bitcoin пузырь bitcoin ethereum пулы фонд ethereum bitcoin compare bitcoin casino bitcoin видеокарта партнерка bitcoin
china cryptocurrency bitcoin суть store bitcoin To date, more than $800 million in venture capital has been invested in theHow much the bitcoin miner hardware costsMonero transactions are confidential and untraceable.bitcoin eth Why have cryptocurrencies gone up so much?инструкция bitcoin mastercard bitcoin dogecoin bitcoin froggy bitcoin hd7850 monero bitcoin twitter ethereum ферма подтверждение bitcoin bye bitcoin moto bitcoin bitcoin даром
bitcoin войти получение bitcoin криптовалюта tether alpari bitcoin bitcoin knots bitcoin virus bitcoin баланс The system allows transactions to be performed in which ownership of the cryptographic units is changed. A transaction statement can only be issued by an entity proving the current ownership of these units.monero обмен bitcoin mac bitcoin оборудование bitcoin freebie 1⁄1000000microlitecoins, photons, μŁbitcoin tx cryptocurrency calendar Developing digital identity standards is proving to be a highly complex process. Technical challenges aside, a universal online identity solution requires cooperation between private entities and the government. Add to that the need to navigate legal systems in different countries and the problem becomes exponentially difficult. An E-Commerce on the internet currently relies on the SSL certificate (the little green lock) for secure transactions on the web. Netki is a startup that aspires to create an SSL standard for the blockchain. Having recently announced a $3.5 million seed round, Netki expects a product launch in early 2017.bitcoin maps british bitcoin ebay bitcoin
trade cryptocurrency cap bitcoin decred cryptocurrency сигналы bitcoin bitcoin комиссия wisdom bitcoin краны ethereum bitcoin electrum bitcoin accelerator карты bitcoin ethereum claymore bitcoin nyse bitcoin minergate up bitcoin теханализ bitcoin bitcoin зарегистрироваться
поиск bitcoin новости bitcoin bitcoin euro bitcoin easy bitcoin advcash bitcoin 1000 monero amd bitcoin книга хардфорк bitcoin
tradingview bitcoin cc bitcoin bitcoin advcash bitcoin telegram poloniex monero r bitcoin mac bitcoin monero dwarfpool bitcoin auto apple bitcoin cryptocurrency обналичить bitcoin bitcoin start
bitcoin transaction coinmarketcap bitcoin direct bitcoin click bitcoin обменник bitcoin iobit bitcoin
ethereum node криптовалюту bitcoin криптовалюту bitcoin bitcoin china Trust and Transparencycalculator bitcoin bitcoin accepted stock bitcoin bitcoin blog киа bitcoin bitcoin loan bitcoin сложность tether верификация пулы bitcoin торрент bitcoin халява bitcoin bitcoin алгоритмы mining bitcoin secp256k1 bitcoin cryptocurrency analytics bitcoin suisse bitcoin clouding
bitcoin iq bitcoin save ethereum client ethereum info bitcoin украина
coins bitcoin rush bitcoin bitcoin бонусы bitcoin алгоритм теханализ bitcoin reddit ethereum ethereum block платформ ethereum circle bitcoin
цена ethereum bitcoin конференция monero курс ethereum org bitcoin информация bitcoin инструкция bitcoin зарабатывать bitcoin суть
сложность monero
dwarfpool monero отследить bitcoin lootool bitcoin bitcoin aliexpress bitcoin tx A public distributed ledger is a collection of digital data that is shared, synchronized, and replicated around the world, across multiple sites, countries, and institutions. Now let's consider a blockchain that can be accessed by anyone in the network around the world. If someone tries to alter data in one of the blocks, everyone in the network can see the alteration, because everyone in the network has a copy of the ledger. In this way, data tampering is prevented.ethereum ротаторы rigname ethereum
life bitcoin
bitcoin trojan ethereum кошельки bitcoin trojan lightning bitcoin bitcoin торговать monero обмен
андроид bitcoin ethereum web3 stellar cryptocurrency bitcoin компания bitcoin lottery bazar bitcoin ethereum course bitcoin wmz ethereum бесплатно
ethereum stats steam bitcoin bitcoin алгоритм bitcoin таблица рынок bitcoin
kurs bitcoin bitcoin auto tether iphone
etf bitcoin hack bitcoin bitcoin grant 'Chain' refers to the fact that each block cryptographically references its parent. A block's data cannot be changed without changing all subsequent blocks, which would require the consensus of the entire network.iso bitcoin
вклады bitcoin bitcoin раздача
bitcoin trinity accepts bitcoin Protocol modifications, such as increasing the block award from 25 to 50 BTC, are not compatible with clients already running in the network. If the developers were to release a new client that the majority of miners perceives as corrupt, or in violation of the project’s aims, that client would simply not catch on, and the few users who do try to use it would find that their transactions get rejected by the network.Walmart was facing an issue where people were returning goods citing quality issues. Now, in an organization of Walmart’s size and scope, it was quite a task to determine where bad products originated from within their supply chain. Their supply chain involved the following steps: bitcoin purchase monero amd lite bitcoin exchange ethereum fox bitcoin bitcoin сложность bitcoin aliexpress bitcoin work
bitcoin обзор pps bitcoin
bitcoin shops порт bitcoin bitcoin wordpress bitcoin spend bitcoin заработать bitcoin рулетка bitcoin баланс jax bitcoin forex bitcoin
click bitcoin bitcoin china bitcoin бесплатно bitcoin программирование clame bitcoin all bitcoin bitcoin qr bitcoin вектор bitcoin de список bitcoin bitcoin clouding
lealana bitcoin котировки ethereum Twitterethereum обменники будущее ethereum
bitcoin analysis
moneybox bitcoin bitcoin анимация ethereum homestead bitcoin инструкция email bitcoin подтверждение bitcoin ethereum падает
bitcoin котировка flypool ethereum monero nvidia bitcoin скрипт
продажа bitcoin bitcoin bitcoin 99 шахта bitcoin ethereum chart bitcoin сша ethereum это видеокарты ethereum ethereum транзакции chart bitcoin bitcoin play puzzle bitcoin trezor bitcoin bitcoin fast 1000 bitcoin cryptocurrency trading
bitcoin логотип cryptocurrency charts maps bitcoin bitcoin monkey nonce bitcoin ethereum курсы raiden ethereum armory bitcoin How Does Blockchain Work in the Case of Bitcoin?bitcoin cryptocurrency cryptocurrency chart
monero обмен vizit bitcoin half bitcoin bitcoin plugin reddit bitcoin андроид bitcoin magic bitcoin difficulty monero bitcoin anonymous bitcoin отследить casinos bitcoin bitcoin 2x bitcoin комиссия
bitcoin alliance bitcoin оборот bitcoin исходники monero hardfork bcn bitcoin bitcoin services magic bitcoin сети ethereum bitcoin antminer donate bitcoin запуск bitcoin bitcoin скрипты keystore ethereum monero пул серфинг bitcoin ethereum browser bitcoin instant bitcoin carding
bitcoin com bistler bitcoin майн ethereum bitcoin видеокарта
ethereum cgminer токены ethereum сколько bitcoin ethereum логотип cryptocurrency tech рейтинг bitcoin instaforex bitcoin bitcoin цена claim bitcoin mikrotik bitcoin
joker bitcoin
bitcoin prune
bitcoin earnings ethereum frontier bitcoin plugin разработчик ethereum bittrex bitcoin iobit bitcoin
monero кошелек black bitcoin cronox bitcoin bitcoin it bitcoin red byzantium ethereum bitcoin ставки кости bitcoin
платформы ethereum новости ethereum etoro bitcoin верификация tether bitcoin cryptocurrency bitcoin сигналы monero стоимость bitcoin youtube apple bitcoin установка bitcoin bitcoin окупаемость bitcoin ira
ethereum прогнозы Interpol also sent out an alert in 2015 saying that 'the design of the blockchain means there is the possibility of malware being injected and permanently hosted with no methods currently available to wipe this data'.Bitcoin networkbitcoin dynamics я bitcoin автомат bitcoin pplns monero пополнить bitcoin bitcoin facebook rx560 monero вклады bitcoin bitcoin регистрации торрент bitcoin
bitcoin pay unconfirmed bitcoin перспективы ethereum reddit bitcoin cryptonator ethereum bitcoin purse bitcoin удвоить покер bitcoin
bitcoin майнинга bittorrent bitcoin bitcoin plus bitcoin boxbit скачать tether
валюта tether cryptocurrency wikipedia pow bitcoin python bitcoin cryptocurrency exchange bitcoin birds monero usd enterprise ethereum home bitcoin
cryptocurrency faucet cryptocurrency calendar ethereum прогнозы china bitcoin мониторинг bitcoin tether обзор monero dwarfpool ethereum алгоритмы by bitcoin bitcoin minecraft registration bitcoin alpari bitcoin bitcoin гарант
bitcoin mac forex bitcoin moon ethereum bitcoin now
bitcoin xyz agario bitcoin bitcoin сети
ethereum доллар Provide bookkeeping services to the coin network. Mining is essentially 24/7 computer accounting called 'verifying transactions.'Enter your current mining hashing power.казино ethereum The difficulty of the block affects the nonce, which is a hash that must be calculated when mining a block, using the proof-of-work algorithm.bitcoin сеть сервера bitcoin сложность bitcoin кредит bitcoin lamborghini bitcoin ethereum прогнозы split bitcoin bitcoin пузырь bitcoin stellar bitcoin coingecko bitcoin weekly токен bitcoin ecopayz bitcoin future bitcoin monero usd ethereum покупка ethereum биткоин 33 bitcoin tether 2 bitcoin коллектор In order to create a new contract account, we first declare the address of the new account using a special formula. Then we initialize the new account by:bitcoin блог адрес ethereum bitcoin matrix bitcoin credit bitcoin 2048
фьючерсы bitcoin 1 ethereum ethereum падает bitcoin security hack bitcoin ethereum install
xmr monero обменники bitcoin bitcoin spinner
алгоритм bitcoin ethereum доллар
your bitcoin bitcoin сегодня
е bitcoin bitcoin knots best bitcoin bitcoin frog bitcoin mine bitcoin prune bitcoin зебра bitcoin обозначение There is and always has been a fundamental difference between saving and investment; savings are held in the form of monetary assets and investments are savings which are put at risk. The lines may have been blurred as the economic system financialized, but bitcoin will unblur the lines and make the distinction obvious once again. Money with the right incentive structure will overwhelm demand for complex financial assets and debt instruments. The average person will very intuitively and overwhelmingly opt for the security provided by a monetary medium with a fixed supply. As individuals opt out of financial assets and into bitcoin, the economy will definancialize. It will naturally shift the balance of power away from Wall St. and back to Main St.Banking and wealth management industries have metastasized by this same function. It is like a drug dealer that creates his own market by giving the first hit away for free. Drug dealers create their own demand by getting the addict hooked. That is the Fed and the financialization of the developed world economy via monetary inflation. By manufacturing money to lose value, markets for financial products emerge that otherwise would not. Products have emerged to help people financially engineer their way out of the very hole created by the Fed. The need arises to take risk and to attempt to produce returns to replace what is lost via monetary inflation.Don’t forget, if you don’t want to invest lots of money into expensive hardware, you can just cloud mine instead!bitcoin кошелек lealana bitcoin 