How mining pools distribute rewards? PPS vs FPPS vs PPLNS ...

wafflepool.com - An auto switching scrypt coin mining pool

WafflePool is a multi-coin (scrypt) mining pool. Point your miner to WafflePool with a Bitcoin address as your username, and we take care of automatically mining the most profitable coin at all times, converting the earnings from each coin into Bitcoins, and paying you out in bitcoins! Mining alt-coins and converting to bitcoin is very often orders of magnitude more valuable than mining Bitcoin directly! No registration, no hassles, just point and start getting paid!
[link]

An explanation of the Pay Per Last N Shares (PPLNS) Bitcoin reward system

An explanation of the Pay Per Last N Shares (PPLNS) Bitcoin reward system submitted by dublinjammers to Bitcoin [link] [comments]

An explanation of the Pay Per Last N Shares (PPLNS) Bitcoin reward system

An explanation of the Pay Per Last N Shares (PPLNS) Bitcoin reward system submitted by dublinjammers to BitcoinMining [link] [comments]

ELI5: How does the PPLNS [bitcoin/litecoin/dogecoin] payout system work?

submitted by asinger93 to explainlikeimfive [link] [comments]

Can you proofread this before I explain to my Dad what cryptocurrency is?

He asked me what calculations my racks of video cards were doing, and what cryptocurrency was, so I typed this up - can you let me know all the stupid mistakes I made before I send it?
Note - he specifically asked me to explain everything as he wants to understand the entirety of it, including what my racks of GPU's are actually calculating and why
bitcoin was the first, it used the SHA256 hash algorithm
it was made so that everyone could run it and "mine" for coins with their CPU by running the SHA256 hash over and over with slightly different inputs, to try to get an output that was lower than the current target. The current target is called the "difficulty" ( https://en.bitcoin.it/wiki/Target )
If your bitcoin program found inputs that resulted in an output lower than the current difficulty, you win a "block" which contains varying amount of coins (with bitcoin, the reward halved every few years)
Your bitcoin program submits this to the network (multiple other bitcoin nodes that you're connected to), and then importantly - they all independently check your work. Once they verify that your hash is correct and is below the difficulty target, everyone agrees that a block was found and everyone moves onto looking for the next one. Note that the chain of blocks that keeps being found is called the "blockchain" , and it's completely public. Every transaction that happens between blocks sits in the "mempool", waiting to be written into the next block. ( https://99bitcoins.com/what-is-bitcoin-mempool/ )
Since SHA256 is a one-way hashing algorithm, you can't just make up a fake hash and hope it works. You actually have to do the work to find a correct one, this is called "Proof of Work"
Once it's written into the blockchain, it cannot be changed. Usually when you send bitcoins to someone, they wait for several "confirmations" before they consider your payment accepted. For example - when five new blocks have been mined after the one containing your transaction, that's five "confirmations". The deeper your transaction is into the blockchain, the more computing power it would take to invalidate that transaction. This is called the 51% attack - ( https://learncryptography.com/cryptocurrency/51-attack )
then someone figured out that it would be faster if your video card did the SHA256 hashes instead of your CPU, since there are hundreds of weaker 'cores' in a GPU than a CPU (which has 2-4). After a short while of everyone moving to using GPU's instead of CPU's, the difficulty target became harder (the network re-adjusts the difficulty target every x blocks, to keep the time between blocks constant. If more people are mining, the difficulty must go up to keep the time between blocks the same)
After a few years, various people custom designed ASICS to do the SHA256 hashes , which are much faster than GPU's, so now to mine bitcoin you have to buy custom hardware to do it. (you don't technically have to, but using GPU's would be worthless now with such an insane difficulty)
Also along the way, people realized the difficulty was getting too hard to mine by themselves, they would go weeks without finding a block; so someone invented "pooled" mining. One person runs a custom bitcoin wallet on a server, and thousands of people connect to that and mine to that wallet. However, instead of that wallet telling all the miners what the real current difficutly target is, it instead gives them a much easier target, so they find "shares" every few minutes. These "fake" easy shares are how the pools keep track of how much hardware you actually have mining for them. When the pool finds a block (because one of these shares will eventually qualify against the real current difficulty), it distributes the block reward evenly among the miners, based on how many shares they submitted during that round. (There's some tricky math called "pool hopping" you can look up if you're interested, where mathematically a miner will come out ahead if they switch to a pool at the beginning of a round, then switch to another pool at a pre-determined point. Pools came up with different payment schemes to get around this, one is called PPLNS)
Bitcoin was the first, however since it's open-source, someone took the Bitcoin code, changed some variables (name, block time, block rewards, max number of coins, etc), called it Litecoin, and launched their own version. Notably, they also changed the hashing algorithm used from SHA256 to scrypt. This was the first "Altcoin".
Since all the bitcoin mining software was written to calculate SHA256, the miner programmers had to start over on a scrypt miner. When new coins come out with new algorithms that haven't been used in previous coins, miner programmers rush to create GPU miners for that algorithm. Once they're running, they then work on optimizing them. The ones who have the fastest programs can usually charge a "devfee", which means for every x minutes of mining for you, it connects to a mining pool of the developer's choosing and mines for him for y minutes (usually devfees are 1-4%). If his/her miner is much faster than others, then it's still worth it for you to run his over the free miners.
Today there are hundreds (thousands?) of altcoins, with new ones coming out every week since it's so incredibly easy to launch your own. Very few have actually added something new to the mix, but the ones that have are the ones that are currently worth the most. A notable example is Ethereum. Instead of the blockchain just being a public ledger of transactions, it can also contain code that all the ethereum nodes can run. It can be simple code, such as "all ether directed to this wallet address will get split evenly in half, with half going to this address, and the other half going to that address" , or it can be more complex code. Once this code (called a "Contract" in Ethereum terms) is submitted into the blockchain, it's there forever (or as long as Ethereum is running on people's computers)
Another thing you can do is called a "hardfork" - if a group of people don't like the way one coin is being run, they can take the source code for that coin, change what they want changed, and launch it. At a certain block, your new code takes over, and you've essentially split the blockchain off on your own. The two blockchains can never be merged, because the nodes that run the coins are running two different versions - they each see the others' transactions and chains as invalid. If you can get enough people behind your idea, and they direct enough hashing power at your fork, then it will survive. Ethereum forked a few years ago because a large group of people disagreed with something the developer did, that fork is now called "Ethereum Classic"
Other noteable things that some coins have now are anonymous transactions, using math that might as well be magic (RingCT, ZKSnarks), several coins have the ability to do transactions that you can assume are completely anonymous. Even if you view their public blockchains, you can't figure out what transactions actually happened ( https://monero.stackexchange.com/questions/880/eli5-how-does-ringct-work )
So to answer your question, my racks of video cards used to be mining Ethereum (ethash algorithm) on an ethereum pool. Now half of them are mining Monero (cryptonight algorithm) and the other half is mining ZCash (equihash algorithm)
submitted by PcChip to CryptoCurrency [link] [comments]

Bitcoin & Cryptocurrency Mining Pools Explained | Best Mining Pools PPS vs PPLNS

Bitcoin & Cryptocurrency Mining Pools Explained | Best Mining Pools PPS vs PPLNS submitted by VoskCoin to Bitcoin [link] [comments]

Bitcoin & Cryptocurrency Mining Pools Explained | Best Mining Pools PPS vs PPLNS

Bitcoin & Cryptocurrency Mining Pools Explained | Best Mining Pools PPS vs PPLNS submitted by VoskCoin to VoskCoin [link] [comments]

Bitcoin & Cryptocurrency Mining Pools Explained | Best Mining Pools PPS vs PPLNS

Bitcoin & Cryptocurrency Mining Pools Explained | Best Mining Pools PPS vs PPLNS submitted by VoskCoin to CryptoCurrency [link] [comments]

Bitcoin & Cryptocurrency Mining Pools Explained | Best Mining Pools PPS vs PPLNS - Slushpool credited as the original mining pool

Bitcoin & Cryptocurrency Mining Pools Explained | Best Mining Pools PPS vs PPLNS - Slushpool credited as the original mining pool submitted by VoskCoin to slushpool [link] [comments]

New Bitcoin Mining pool EU location, wallet version v0.13.2, 1% fee PPLNS

submitted by scorpio18 to Bitcoin [link] [comments]

[Partners] Thinking of becoming a $BTG miner? Start mining with coinfoundry mining pool. -server locations across the globe -PPLNS payment system -Mining guides -Fee: 0,6% => coinfoundry.org #BitcoinGold #coinfoundry #Bitcoin #GPUmining

[Partners] Thinking of becoming a $BTG miner? Start mining with coinfoundry mining pool. -server locations across the globe -PPLNS payment system -Mining guides -Fee: 0,6% => coinfoundry.org #BitcoinGold #coinfoundry #Bitcoin #GPUmining submitted by Asabmoni to BitcoinGoldHQ [link] [comments]

Nexious - New Bitcoin Mining Pool [PPLNS]

submitted by NexiousPool to Bitcoin [link] [comments]

Minepool.live Fast and Reliable PPLNS Pool /r/Bitcoin

Minepool.live Fast and Reliable PPLNS Pool /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

About Ethereum mining pitfalls, risks, and threats

Bitcoin miners are massively switching to Ethereum. According to 8btc estimates, the payback period for a Bitcoin miner is 600 days, while for the same metric on Ether it only takes 200 days. But this goodness won’t last forever. Read about what threatens the development of Ethereum below.
Hardware and Filling – Halfway to Success
Experienced folks advise taking the most productive video cards, for example, the latest models from Nvidia and AMD. When choosing, pay attention to the amount of video memory (ideally from 2 GB), memory speed (with DDR 5 memory), bus width (better with a 256-bit bus), and cooling (basically there’s no competition to Radeon devices). Take Radeon RX 570, this 169 USD card produces 24-30 Mh/s, which is superb.
The Illusion of Stability
The entire multi-million community of Ether lovers trembled in early August when the Ethereum Classic network was subjected to several 51% attacks at once. In addition, in the first half of 2020 alone, over 5 attacks were carried out on popular DeFi platforms, including Balancer ($500,000 stolen) and bZx (17,500 ETH were stolen in total). Moreover, cybercriminals do not always use technical vulnerabilities, sometimes good old social engineering works.
Reduction of Reward
Ethereum developers have proposed to reduce the block mining reward by 75%. ConsenSys Managing Director John Leelik published the EIP-2878 proposal aimed at reducing inflation and preserving purchasing power. If supported, the reward will drop to 0.5 ETH.
The transition of ETH to ETH 2.0 (PoS)
We already wrote about this in the article "Problems of Ethereum Mining", and you can also watch the interview by Peter McCormack with the project founder Vitalik Buterin.
While the opportunity is still there, we offer everyone to get the most out of it and mine profitably. For example, take a closer look at the new CoinFLy ETH Pool, that nowadays offers more rewards than others, at least by 10%.
Profit That is Not Profit
A hidden and obvious problem is choosing the pool based on its profitability. If you only have a few capacities, then it is better to choose a pool that uses the PPS+ model, if you’ve got a lot of them, then a powerful pool with PPLNS is better. And if you’ve got so many capacities that there’s even enough for others, then you can also go SOLO, buddy. More details - here.
submitted by applesEgo to ethereum [link] [comments]

Nexious - New Bitcoin Mining Pool [PPLNS]

submitted by NexiousPool to BitcoinMining [link] [comments]

New Bitcoin Mining pool EU location, wallet version v0.13.2, 1% fee PPLNS

submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Nexious - New Bitcoin Mining Pool [PPLNS]

submitted by NexiousPool to mtred [link] [comments]

New Bitcoin Pool [PPLNS] Low Fees | http://infinti-pool.tk | Currently 1.5 TH

Hi All,
A new Bitcoin Mining Pool as appeared. The current hashrate is 1.5TH so get in quick and earn big profits.
Happy Hashing!
Link : http://infinti-pool.tk/
submitted by xornemisis to Bitcoin [link] [comments]

[NEW] OverHash.com - Premier Bitcoin Pool | PPLNS | 1% Fee | Pay TX | Live Dashboard

submitted by OverHash to BitcoinMiner [link] [comments]

ProfitCoins.com - Bitcoin mining pool | PPLNS | Stratum | GBT |Auto-Payout

Let us present to you a new pool:
ProfitCoins.com
Special features of our pool: - Fees 0% - Payments to BTC - Auto-payment options - Real-time statistics - transparent dynamic statistics where you can see a number of shares submitted by every user, their awards, times when when users were awarded etc. - Supports Russian and English versions - Efficient and knowledgeable technical support - User-friendly interface - Stratum
Welcome to our pool for joint bitcoin generation!
submitted by ProfitCoins to Bitcoin [link] [comments]

Ethereum mining pitfalls, risks, and threats

Bitcoin miners are massively switching to Ethereum. According to 8btc estimates, the payback period for a Bitcoin miner is 600 days, while for the same metric on Ether it only takes 200 days. But this goodness won’t last forever. Read about what threatens the development of Ethereum below.
Hardware and Filling – Halfway to Success
Experienced folks advise taking the most productive video cards, for example, the latest models from Nvidia and AMD. When choosing, pay attention to the amount of video memory (ideally from 2 GB), memory speed (with DDR 5 memory), bus width (better with a 256-bit bus), and cooling (basically there’s no competition to Radeon devices). Take Radeon RX 570, this 169 USD card produces 24-30 Mh/s, which is superb.
The Illusion of Stability
The entire multi-million community of Ether lovers trembled in early August when the Ethereum Classic network was subjected to several 51% attacks at once. In addition, in the first half of 2020 alone, over 5 attacks were carried out on popular DeFi platforms, including Balancer ($500,000 stolen) and bZx (17,500 ETH were stolen in total). Moreover, cybercriminals do not always use technical vulnerabilities, sometimes good old social engineering works.
Reduction of Reward
Ethereum developers have proposed to reduce the block mining reward by 75%. ConsenSys Managing Director John Leelik published the EIP-2878 proposal aimed at reducing inflation and preserving purchasing power. If supported, the reward will drop to 0.5 ETH.
The transition of ETH to ETH 2.0 (PoS)
We already wrote about this in the article "Problems of Ethereum Mining", and you can also watch the interview by Peter McCormack with the project founder Vitalik Buterin.
While the opportunity is still there, we offer everyone to get the most out of it and mine profitably. For example, take a closer look at the new CoinFLy ETH Pool, that nowadays offers more rewards than others, at least by 10%.
Profit That is Not Profit
A hidden and obvious problem is choosing the pool based on its profitability. If you only have a few capacities, then it is better to choose a pool that uses the PPS+ model, if you’ve got a lot of them, then a powerful pool with PPLNS is better. And if you’ve got so many capacities that there’s even enough for others, then you can also go SOLO, buddy. More details - here.
submitted by applesEgo to gpumining [link] [comments]

[Announcement] New Bitcoin Pool - OverHash.com | PPLNS | 1% Fee | Pay TX | Live Dashboard

[Announcement] New Bitcoin Pool - OverHash.com | PPLNS | 1% Fee | Pay TX | Live Dashboard submitted by OverHash to Bitcoin [link] [comments]

Mining pitfalls, risks, and threats in Ethereum network

Bitcoin miners are massively switching to Ethereum. According to 8btc estimates, the payback period for a Bitcoin miner is 600 days, while for the same metric on Ether it only takes 200 days. But this goodness won’t last forever. Read about what threatens the development of Ethereum below.
Hardware and Filling – Halfway to Success
Experienced folks advise taking the most productive video cards, for example, the latest models from Nvidia and AMD. When choosing, pay attention to the amount of video memory (ideally from 2 GB), memory speed (with DDR 5 memory), bus width (better with a 256-bit bus), and cooling (basically there’s no competition to Radeon devices). Take Radeon RX 570, this 169 USD card produces 24-30 Mh/s, which is superb.
The Illusion of Stability
The entire multi-million community of Ether lovers trembled in early August when the Ethereum Classic network was subjected to several 51% attacks at once. In addition, in the first half of 2020 alone, over 5 attacks were carried out on popular DeFi platforms, including Balancer ($500,000 stolen) and bZx (17,500 ETH were stolen in total). Moreover, cybercriminals do not always use technical vulnerabilities, sometimes good old social engineering works.
Reduction of Reward
Ethereum developers have proposed to reduce the block mining reward by 75%. ConsenSys Managing Director John Leelik published the EIP-2878 proposal aimed at reducing inflation and preserving purchasing power. If supported, the reward will drop to 0.5 ETH.
The transition of ETH to ETH 2.0 (PoS)
We already wrote about this in the article "Problems of Ethereum Mining", and you can also watch the interview by Peter McCormack with the project founder Vitalik Buterin.
While the opportunity is still there, we offer everyone to get the most out of it and mine profitably. For example, take a closer look at the new CoinFLy ETH Pool, that nowadays offers more rewards than others, at least by 10%.
Profit That is Not Profit
A hidden and obvious problem is choosing the pool based on its profitability. If you only have a few capacities, then it is better to choose a pool that uses the PPS+ model, if you’ve got a lot of them, then a powerful pool with PPLNS is better. And if you’ve got so many capacities that there’s even enough for others, then you can also go SOLO, buddy. More details - here.
submitted by applesEgo to CryptoCurrencies [link] [comments]

What is the difference between PPS and PPLNS? EGEM 1 майнер на PPLNS vs Solo кто кого? Результаты шокировали бывалых! COMO RETIRAR DE MINERGATE A UNA BILLETERA - YouTube myBTCcoin - YouTube 2miners против Minerall. PPLNS против PPS. Кто круче? Битва пулов. Battle #4

Bitcoin Stack Exchange is a question and answer site for Bitcoin crypto-currency enthusiasts. It only takes a minute to sign up. Sign up to join this community . Anybody can ask a question Anybody can answer The best answers are voted up and rise to the top Bitcoin . Home ; Questions ; Tags ; Users ; Jobs; Unanswered ; PPLNS is good against pool hoping? Ask Question Asked 3 years, 5 months ago ... Which Bitcoin Payout should I use? PPLNS. If you are looking to make money off of the bitcoin network, you want to use PPLNS due to its higher payout. PPLNS will give you wide fluxuations in your 24 hour payout, but for hardcore Bitcoin miners, the law of large numbers states you will earn more this way. This is for people trying to mine as fast as possible. PPS. PPS is for people who want to ... What is PPLNS in Bitcoin Mining 3 min read. What is PPLNS in Bitcoin Mining 3 min read. 7 May 2018 Jamie McCormick. Please note: At this stage, bitcoin mining can only make sense using dedicated ASIC hardware. Trying to do this on your computer or desktop GPU will probably just damage your hardware or shorten it’s lifetime, and run you up a large electricity bill. However, a number of ... Mining profit generally consists of two parts, including the block reward for the block (current bitcoin block reward is 6.25 bitcoin) and mining fee/transaction fee. After understanding the profit components, you can understand these settlements more accurately. PPS(Pay Per Share) Simply, PPS is a mode of payment. The miners sell the hashrate to the mining pool to obtain fixed income. The ... PPLNS - Pay Per Last (N)umber of Shares; Pay-Per-Share (PPS) This payment method is pretty straight forward. You get paid for each valid share contributed. Each share is worth a certain amount of BTC or any other minable cryptocurrency. Share worth is calculated based on the probability of a number of shares needed for a pool to find a block. If the pool statistically needs to send 1000 valid ...

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What is the difference between PPS and PPLNS?

Bitcoin Litecoin Live Dashboard Interface! Live Dashboard Interface!!! Free account Stratum servers The #1 pool offering PPLNS. Earn More Bitcoin. En este video te explico como puedes poner tu PC a minar criptomonedas detalladamente, el video explica paso a paso todo el proceso, si tienes dudas contacta... Skip navigation Sign in. Search Bitcoin & Cryptocurrency Mining Pools Explained Best Mining Pools PPS vs PPLNS - Duration: 18:17. ... Bitcoin price analysis!- bitcoin may 29 - Duration: 12:45. Tech with Catalina 2,479 views. 1 Share your videos with friends, family, and the world

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