Bitcoin mining pool wiki
Posted On 09.03.1960
This article needs additional citations for verification. Slush Pool is the oldest currently active mining pool. Mining pools may contain hundreds or thousands of miners using specialized protocols. Miners are bitcoin mining pool wiki 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. In other words, all shares are equal, but its cost is calculated only in the end of a round. This reduces the ability to cheat the mining pool system by switching pools during a round, to maximise profit. 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. Therefore, if the round was short enough all miners get more profit, and vice versa. 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.
If the share is a valid block, end the round. Generalized version of Geometric and PPLNS methods. PPLNS, with exponential decay instead of a step function. 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.