Mining pool: Difference between revisions

Revision as of 12:40, 26 September 2019

Revision as of 12:10, 21 January 2020

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==Mining pool methods==

Mining pools may contain hundreds or thousands of miners using specialized protocols.<ref name=t12>{{cite book | author = Antonopoulos, Andreas M. | date = 2014 | title = Mastering Bitcoin. Unlocking Digital Cryptocurrencies | ___location = Sebastopol, CA | publisher = O'Reilly Media | isbn = 1449374034978-1449374037 | page = 210 | url = http://chimera.labs.oreilly.com/books/1234000001802/ch01.html | access-date = 7 January 2017 | url-status = live | archiveurl = https://web.archive.org/web/20161201131627/http://chimera.labs.oreilly.com/books/1234000001802/ch01.html | archivedate = 1 December 2016 }}</ref> In all these schemes <math>B</math> stands for a block reward minus pool fee and <math>p</math> is a probability of finding a block in a share attempt (<math>p = 1/D</math>, where <math>D</math> 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 <math>p</math> accordingly.

===Pay-per-Share===

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===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.<ref name=":0">{{Cite book|url=https://www.worldcat.org/oclc/894170560|title=Understanding bitcoin : cryptography, engineering and economics|last=Pedro.|first=Franco,|date=2015|publisher=John Wiley & Sons|isbn=9781119019145|___location=Chichester, West Sussex|oclc=894170560}}</ref> This reduces the ability to cheat the mining pool system by switching pools during a round, to maximize profit.

===Pay-per-last-N-shares===