What Does Understanding Bitcoin Mining Mean?
This payment system 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 charge, to mitigate the risk they take by paying frequently.
Proportional: Just like in PPS, miners submit stocks along the block finding period. The more hashing energy you've got and the longer you mined to your cube, the more stocks you submitted. Once a cube is found, the pool pay the miners according to the amount of shares they obtained.
But in this payment system, the value you will get for each share will equal the block rewards divided by the total number of shares filed by all miner. This means that the further miners that join the pool, the lower the value of each share you recieve.
The Of Other Coins Like Bitcoin
Score-based: This payment method was designed to prevent miners from pool-hopping. Your mining period and hashing power are calculated into a scoring hash rate score. The longer you stay on the pool, the higher your score is and the greater the value of the  stocks you get. Once you stop mining, your score gets smaller and the value of your stocks drop accordingly.
Pay per Last N Shares (PPLNS): In PPLNS, miners only get paid for stocks received during a predefined window that ends in the block solving. Unlike other payment schemes, shares received outside the window will not be rewarded at all. This window can either be defined as a period frame (uncommon), or with a certain number (N) that represents the final stocks received up to the block solving. .
For instance, 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 generally set as a multiple of the mining pool difficulty using a constant, usually 2.
Due to this, PPLNS is also called Pay per Luck Shares. When implemented correctly, miners cant predict the right time to join, so they can either get greater rewards when they got to get more shares within the previous N stocks, or get no reward whatsoever when they didnt.
What Does Other Coins Like Bitcoin Mean?
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 based in the Czech Republic and follows a score-based system to discourage pool-hopping.
This really is a medium-large sized pool. SlushPool claims a 2% commission from each block solving reward. SlushPools dashboard is very user friendly and provides excellent detail with regular updates. While it might not be the biggest of the Bitcoin mining pools, its certainly considered one of the best.
Antpool is a Chinese Bitcoin mining pool operated by Bitmain Technologies. It's moderate in size. One advantage Antpool has is that you can choose between PPLNS (0% fee) and PPS+ (2% fee), both of which have their own advantages.
In regard to payments, theyre made once per day if the amount exceeds 0.001 Bitcoin. Those new to Bitcoin mining will love the clean interface. The dashboard clearly displays earnings and hashrates. There are also many different 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 some time, before opening a pool in 2016. Owned by Bitmain Tech, BTC.com is the largest pool around, at the time of writing. BTC.com have my site their own payment system, FPPS, which like PPS+ include TX fees in the payouts, along with the block reward.
About What Is The Best Bitcoin Exchange
F2Pool is a medium-large pool established in 2013. Operating a PPS+ reward program, F2Pool takes a 2.5% commission, which is somewhat on the large side.
Also known as KanoPool, Kano CKPool was founded in 2014. This little Bitcoin mining pool offers PPLNS payment model, charging a 0.9% fee.
With regard to payout, per each block found you'll need to wait +101 block confirmations for paid, which could take a while.
The Bitcoin Mining Tutorial Ideas
This is a comparatively straightforward pool with 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 for an additional layer of safety.