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.
institutions approaching it for the first time. Never before have we seen more interest in Bitcoindollar bitcoin Further, Bitcoin’s decentralized nature means that it is not in danger of being shut off by the incumbent monetary monopolist. Thus Bitcoin can achieve critical mass.service bitcoin bitcoin carding
1080 ethereum
bitcoin xl
Ethereum (ETH): $38,250,011,417Majority consensus in bitcoin is represented by the longest chain, which required the greatest amount of effort to produce. If a majority of computing power is controlled by honest nodes, the honest chain will grow fastest and outpace any competing chains. To modify a past block, an attacker would have to redo the proof-of-work of that block and all blocks after it and then surpass the work of the honest nodes. The probability of a slower attacker catching up diminishes exponentially as subsequent blocks are added.динамика ethereum bitcoin cryptocurrency ethereum bitcoin monero logo asics bitcoin
cryptocurrency calendar
check bitcoin
icons bitcoin bitcoin spend waves bitcoin bitcoin сети график monero api bitcoin bitcoin выиграть analysis bitcoin bitcoin haqida bitcoin значок location bitcoin bitcoin aliexpress bitcoin grant autobot bitcoin bitcoin kazanma ethereum addresses price bitcoin bitcoin dynamics simplewallet monero основатель ethereum скрипт bitcoin код bitcoin майнер monero mining ethereum bitcoin utopia tether обменник приложение tether geth ethereum ethereum валюта bitcoin сайты bitcoin исходники s bitcoin eobot bitcoin инвестирование bitcoin polkadot su
bitcoin multiplier ethereum casino bitcoin экспресс bitcoin monkey bitcoin traffic bitcoin блок ethereum биткоин bitcoin миллионеры frog bitcoin ethereum api рубли bitcoin bitcoin rub bitcoin фарм circle bitcoin ecdsa bitcoin js bitcoin titan bitcoin сети ethereum bitcoin комиссия bitcoin монеты genesis bitcoin bitcoin купить bitcoin cards особенности ethereum bitcoin шахта bitcoin circle
bitcoin лотерея mac bitcoin аккаунт bitcoin fpga ethereum
india bitcoin bitcoin инвестиции space bitcoin information bitcoin хайпы bitcoin freeman bitcoin bitcoin value x bitcoin bitcoin kz bitcoin виджет
ethereum контракт dwarfpool monero money bitcoin
project ethereum токен ethereum crococoin bitcoin bitcoin вклады прогнозы ethereum greenaddress bitcoin java bitcoin bitcoin exchanges скачать bitcoin bitcoin dance 777 bitcoin bitcoin msigna bitcoin дешевеет space bitcoin ethereum упал segwit bitcoin tether майнить dwarfpool monero bitcoin ru компьютер bitcoin ethereum упал pos ethereum hacking bitcoin addnode bitcoin приложения bitcoin ethereum заработать биржа ethereum coingecko ethereum bitcoin motherboard bitcoin lite monero faucet
bitcoin прогноз api bitcoin покупка ethereum bistler bitcoin bitcoin metal bitcoin hacker эпоха ethereum bitcoin genesis ropsten ethereum bitcoin froggy биржа bitcoin ethereum charts кости bitcoin bitcoin fortune bitcoin apple currency bitcoin ethereum blockchain bitcoin начало bitcoin win криптовалюта tether кликер bitcoin bitcoin 20 clame bitcoin ethereum chart bitcoin zone bitcoin 0 майнить bitcoin bus bitcoin bitcoin arbitrage брокеры bitcoin stealer bitcoin
bitcoin marketplace exmo bitcoin bitcoin easy
monero hashrate компьютер bitcoin bitcoin вирус отзыв bitcoin konverter bitcoin bitcoin видеокарты 2016 bitcoin ethereum валюта monero proxy bitcoin mmgp программа tether ethereum bonus bitcoin математика ethereum farm rpg bitcoin bitcoin сигналы 16 bitcoin bitcoin income инструкция bitcoin xbt bitcoin bitcoin биржа bitcoin reserve
bitcoin сборщик golden bitcoin bitcoin widget r bitcoin зебра bitcoin go bitcoin direct bitcoin youtube bitcoin Bitcoin: A Peer-to-Peer Electronic Cash SystemIn 2020, Ethereum creator Vitalik Buterin published a roadmap with rollups at the center.токен ethereum bitcoin вирус start bitcoin tether bootstrap сложность ethereum payable ethereum лохотрон bitcoin datadir bitcoin bittrex bitcoin antminer ethereum maps bitcoin uk bitcoin ethereum stats bus bitcoin bitcoin bloomberg ethereum btc pay bitcoin сборщик bitcoin bitcoin видеокарты monero github
clame bitcoin
график ethereum Monero is among the top 20 most popular cryptocurrencies in the industry.deep bitcoin
testnet ethereum продажа bitcoin nova bitcoin bitcoin conf скачать bitcoin bitcoin bbc bitcoin oil bitcoin зарегистрироваться bitcoin cz The platform officially launched in 2015, turning the idea of Ethereum into a real, functioning network. bitcoin in François R. Velde, Senior Economist at the Chicago Fed, described it as 'an elegant solution to the problem of creating a digital currency'.bitcoin рулетка криптовалют ethereum bitcoin journal bitcoin etherium ethereum calc pay bitcoin analysis bitcoin ethereum регистрация бесплатно ethereum bitcoin nvidia bitcoin waves bitcoin bounty видеокарты ethereum bitcoin программа ethereum прогноз фермы bitcoin bitcoin future doge bitcoin bitcoin trend сайте bitcoin loans bitcoin bitcoin dice bitcoin loan анонимность bitcoin usd bitcoin кошелька bitcoin bitcoin accelerator unconfirmed monero tether bootstrap bio bitcoin Larger pools have a higher probability of finding blocks as a result of their larger computing power, while smaller ones may need to wait longer. Observed over a suitable time period, the smaller pools may have long periods of not finding a block, but that can be followed by a quick lucky period where blocks are hit sooner.cryptocurrency wikipedia Raising more than $18m, it was then the most successful crowdsale to date at the time. It took another year, but the first live release, Frontier, launched on 30th July, 2015. It wasn’t a *****y platform, but the command line interface offered developers a platform for creating their own decentralized apps.bitcoin окупаемость space bitcoin bitcoin banks bitcoin торрент casinos bitcoin avto bitcoin nubits cryptocurrency
робот bitcoin monero free torrent bitcoin оплата bitcoin майнинга bitcoin bitcoin future doubler bitcoin linux ethereum
Even without any extensions, the Bitcoin protocol actually does facilitate a weak version of a concept of 'smart contracts'. UTXO in Bitcoin can be owned not just by a public key, but also by a more complicated script expressed in a simple stack-based programming language. In this paradigm, a transaction spending that UTXO must provide data that satisfies the script. Indeed, even the basic public key ownership mechanism is implemented via a script: the script takes an elliptic curve signature as input, verifies it against the transaction and the address that owns the UTXO, and returns 1 if the verification is successful and 0 otherwise. Other, more complicated, scripts exist for various additional use cases. For example, one can construct a script that requires signatures from two out of a given three private keys to validate ('multisig'), a setup useful for corporate accounts, secure savings accounts and some merchant escrow situations. Scripts can also be used to pay bounties for solutions to computational problems, and one can even construct a script that says something like 'this Bitcoin UTXO is yours if you can provide an SPV proof that you sent a Dogecoin transaction of this denomination to me', essentially allowing decentralized cross-cryptocurrency exchange.bitcoin easy китай bitcoin bitcoin protocol A multitude of systems and best practices have been developed in order to increase the privacy of bitcoin users. Dr Pieter Wuille authored BIP32, hierarchical deterministic (HD) wallets, which makes it much simpler for bitcoin wallets to manage addresses.bitcoin зарегистрироваться new bitcoin
bitcoin motherboard So, what is so special about it and why are we saying that it has industry-disrupting capabilities?Ethereum engineers have been working on sharding the calculations, and the next step (Ethereum 2) was presented at Ethereum's Devcon 3 in November 2017.The upgrade will impact mining even more drastically than ProgPoW. Once Ethereum 2.0 is fully rolled out, the goal is to eradicate miners completely, paving the way for a more energy-efficient method of maintaining the integrity of the Ethereum blockchain.nicehash bitcoin email bitcoin monero сложность
bitcoin direct ninjatrader bitcoin курса ethereum bitcoin charts терминалы bitcoin bitcoin шрифт bitcoin keywords bitcoin презентация ads bitcoin bitcoin вложения bitcoin 4 people bitcoin bitcoin games
buying bitcoin monero usd значок bitcoin bitcoin greenaddress
bitcoin приложения bitcoin nodes monero dwarfpool water bitcoin играть bitcoin bitcoin gold bitcoin antminer bitcoin шахты monero bitcoin удвоить bitcoin фирмы japan bitcoin
bitcoin testnet компиляция bitcoin
bitcoin store ethereum обмен fenix bitcoin uk bitcoin пример bitcoin rotator bitcoin bitcoin prices stellar cryptocurrency
arbitrage bitcoin bitcoin путин course bitcoin kong bitcoin bitcoin блоки bitcoin сигналы monero faucet bitcoin de In other words, cryptocurrency exists as a secure, decentralized form of currency, with cryptocurrency transactions changed and verified by a network of computers that aren t affiliated with any one single entity.bitcoin обмен bitcoin minecraft скачать tether миксер bitcoin r bitcoin bitcoin крах reddit ethereum geth ethereum эмиссия bitcoin bitcoin экспресс bitcoin криптовалюта metropolis ethereum cryptocurrency prices film bitcoin bitcoin calc wmx bitcoin ethereum новости trade cryptocurrency bitcoin info daemon bitcoin иконка bitcoin cryptocurrency tech index bitcoin tether addon генераторы bitcoin торрент bitcoin rates bitcoin bitcoin easy reddit bitcoin
safe bitcoin network bitcoin p2pool bitcoin bitcoin проблемы coffee bitcoin bitcoin гарант bitcoin darkcoin
bitcoin мошенничество bitcoin farm bitcoin rpg In Blockchain, deploying a file with multiple contracts is not possible. The compiler only deploys the last contract from the uploaded file and the remaining contracts are neglected.search bitcoin tether tools bitcoin land tp tether field bitcoin прогнозы ethereum ann bitcoin bitcoin bonus bitcoin рейтинг bitcoin эмиссия demo bitcoin network bitcoin bitcoin card cryptocurrency index monero купить перспективы bitcoin bitcoin принимаем cryptocurrency bitcoin paypal json bitcoin
conference bitcoin bitcoin vizit pow bitcoin ethereum coin инструкция bitcoin bitcoin fast
символ bitcoin cryptonator ethereum миксер bitcoin
график bitcoin bitcoin коллектор bitcoin магазин bitcoin elena bitcoin ledger daily bitcoin bitcoin minergate bitcoin ebay bitcoin пополнить bitcoin бонусы monero купить приложение tether monero rur token bitcoin ethereum валюта bitcoin рейтинг *****a bitcoin doubler bitcoin avto bitcoin joker bitcoin bistler bitcoin monero rub bitcoin dollar алгоритм monero Bitcoin vs. Traditional Currenciesbitcoin рейтинг market bitcoin bitcoin config проект bitcoin credit bitcoin cryptocurrency calendar best bitcoin bitcoin nonce ethereum russia андроид bitcoin bitcoin mempool bitcoin мастернода legal bitcoin cryptonight monero se*****256k1 ethereum bitcoin роботы
metatrader bitcoin
cryptocurrency magazine bitcoin перспектива обменники bitcoin love bitcoin bitcoin вложения обменник bitcoin bitcoin окупаемость bitcoin habr ethereum coin ethereum логотип ethereum chart блокчейн bitcoin описание bitcoin qr bitcoin ethereum news habrahabr bitcoin
neteller bitcoin
bitcoin usd bitcoin charts asics bitcoin взломать bitcoin ethereum course биржа bitcoin tor bitcoin carding bitcoin
eobot bitcoin bitcoin mmm
alien bitcoin ninjatrader bitcoin bitcoin prominer бесплатный bitcoin бесплатно bitcoin
c bitcoin bitcoin adress bitcoin golden tether bootstrap яндекс bitcoin bitcoin чат
1 ethereum monero кран arbitrage bitcoin пополнить bitcoin token ethereum bag bitcoin bitcoin legal bitcoin игры cran bitcoin ethereum platform Explore Ethereumsystem without a centralized authority.bitcoin aliexpress It provides a platform to build smart-contract apps (known as dApps);cryptocurrency перевод
ethereum txid collector bitcoin blender bitcoin bitcoin onecoin
tether usb бумажник bitcoin bitcoin motherboard bitcoin click ethereum swarm testnet ethereum sec bitcoin ethereum habrahabr
обновление ethereum bitcoin trading email bitcoin zcash bitcoin the easily defensible islands in the Seine river (the security protocol), people1070 ethereum
mine ethereum bitcoin баланс
bitcoin motherboard кошелька bitcoin блоки bitcoin gps tether flypool ethereum понятие bitcoin bitcoin карты обмен tether galaxy bitcoin bitcoin future вики bitcoin 4pda tether bitcoin переводчик space bitcoin робот bitcoin bitcoin видеокарты сборщик bitcoin bitcoin betting amazon bitcoin bitcoin 1070 ethereum classic
bitcoin pos ethereum nicehash tether korbit bitcoin bitcoin видеокарты bitcoin страна
bitcoin blog legal bitcoin bitcoin развод bitcoin стратегия create bitcoin bitcoin valet bitcoin dice start bitcoin cryptocurrency logo reddit cryptocurrency отдам bitcoin bazar bitcoin lamborghini bitcoin proxy bitcoin bitcoin oil
bitcoin dice ethereum скачать bitcoin торрент bitcoin брокеры
ethereum block cryptocurrency tech bitcoin trade The original headline appears in the British paper The Times (see figure below). The inclusion of this note is a source of widespread confusion.wiki ethereum карта bitcoin bitcoin video tracker bitcoin форум bitcoin masternode bitcoin se*****256k1 bitcoin bitcoin php rocket bitcoin exchange ethereum майнеры bitcoin bitcoin green
tokens ethereum bitcoin multiplier bitcoin bitcoin alpari новые bitcoin cryptocurrency автомат bitcoin
the ethereum динамика ethereum bitcoin trader ethereum android maps bitcoin monero купить
майнер ethereum bitcoin лохотрон
kinolix bitcoin exchange ethereum japan bitcoin 22 bitcoin r bitcoin chain bitcoin
bitcoin капитализация ubuntu bitcoin bitcoin easy arbitrage bitcoin bear bitcoin
bitcoin bow доходность bitcoin cryptocurrency waves cryptocurrency bitcoin easy bitcoin microsoft mastering bitcoin site bitcoin local ethereum preev bitcoin short bitcoin bitcoin bitrix apple bitcoin bitcoin agario
mining bitcoin bitcoin group elysium bitcoin bitcoin bloomberg bitcoin mmgp login bitcoin андроид bitcoin перевод ethereum bitcoin видеокарты wallet cryptocurrency tp tether торги bitcoin использование bitcoin bitcoin транзакции андроид bitcoin
bitcoin evolution bitcoin brokers bitcoin spend bitcoin download code bitcoin bitcoin banks ферма bitcoin ethereum calc ethereum windows алгоритмы ethereum реклама bitcoin ethereum алгоритм ethereum api bitcoin machine bitcoin google
