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Scott Evans
14.01. 2018 23:17  | 

First, let\'s start with the explanation what is a Bitcoin mining pool. Mining pools are group of miners that are pooling their resources together in order to generate blocks more quickly. It is pretty simple way of investing in Bitcoin, because all you need is money, you don\'t need to buy hardware, don\'t need to have a place where you put your cards, don\'t have to pay electricity bills and so on. For different cryptocurrencies there are different polls, there are bigger pools which offering smaller payout because reward is shared among more members. Smaller pools offers less frequent but larger payments. There are also different with the types of reward where you have next kind of rewarding methods:

  • Pay per Share (PPS) - rewarding user with a fixed amount, every time when share is submitted
  • Proportional - The user is paid based on the proportion of shares they found
  • Score based - A proportional method weighed by the time a share is submitted
  • Pay per Last N Shares (PPLNS) - Rewarding each shares on multiple rounds
  • Some of the mining pools, using fees as rewards. Fees can be something above 0% and go through 3%

Top 5 Bitcoin Mining Pools

Slush Pool

It was first bitcoin mining pool ever and it seems that this pool lead to creation of many other pools, it was created by Satoshi Labs in the Czech Republic. It is a medium mining pool which means that this pool maintains something above 7% of the network hash rate. There is a fee fixed on 2% and its shared through the miners. This pool provides a services to mine Zcash.

Antpool

Chinese Bitcoin mining pool with the 22% of the network hash rate. The best characteristic of this mining pool is that user can choose between PPLNS and PPS reward types and we described same in the text above.

Kano CKPool

Also known as KanoPool, has around 3% network hash rate, rewarding 0.9% fixed fee per transaction. Regular payments, good support and friendly interface.

F2Pool

Is also Chinese Bitcoin mining pool, but its smaller then Antpool, has about 14% of network hash rate, operating with the PPS reward system and can also be used for mining Litecoin, Ethereum and Zcash.

Eligius

Bitcoin mining pool settled in United States, has about 1% of network hash power, founded in 2011. The main advantages is that there are no fees. Eligius is operating with the PPS reward system with the minimum payment of 0.04 BTC.

Get started now - Life is too short to be poor. Bitcoin, mining, mining pools, hash rate, rewarding system
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