The Ultimate Guide To Bitcoin Mining Tutorial
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 that the pool owners bill, to mitigate the risk they take by paying frequently.
Proportional: Just like in PPS, miners distribute shares 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 pay the miners according to the amount of shares they obtained.
However in this payment system, the value you will get for each share will equal the block rewards divided by the entire number of shares submitted by all miner. This means that the further 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 period and hashing electricity are calculated into a scoring hash rate score. The longer you remain on the pool, the greater 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 standard N Stocks (PPLNS): In PPLNS, miners only get paid for shares received during a predefined window that ends in the block solving. Unlike other payment schemes, stocks received outside 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 final shares received up to the block solving. .
By way of example, if N equals 1 Billion, once a block is found only the previous 1 Billion shares will likely be rewarded. While not defined anywhere explicitly, N is usually set as a multiple of this mining pool difficulty using a constant, usually two.
For this reason, PPLNS is also called Pay per Luck Shares. When implemented properly, miners cant predict the right time to join, so they can either get greater rewards when they must get more shares additional hints within the previous N shares, or get no reward whatsoever 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 to come. 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% commission from every block solving benefit. SlushPools dashboard is quite user friendly and gives excellent detail with routine upgrades. While it might not be the biggest of those Bitcoin mining pools, its certainly considered one of the very 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 pick between PPLNS (0% commission ) and PPS+ (2% fee), both of which have their own advantages.
In terms of payments, theyre made once per day when the amount exceeds 0.001 Bitcoin. Those new to Bitcoin mining will appreciate the clean interface. The dashboard clearly displays 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 a while, before opening a pool in 2016. Owned by Bitmain Tech, BTC.com is your greatest pool around, at the time of writing. BTC.com have their own payment method, FPPS, which similar to PPS+ include TX fees 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 2.5% fee, which is somewhat on the high side.
Also known as KanoPool, Kano CKPool was founded in 2014. This little Bitcoin mining pool provides PPLNS payment model, charging a 0.9% commission.
With respect to payout, per each block found you'll need to wait for +101 block confirmations to get paid, which could take some time.
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This is a relatively straightforward pool having an interface that 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 extra layer of safety.