Bitcoin Pooled Mining

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Bitcoin Pool Mining

Bitcoin Pooled Mining (BPM), better known as Slush's pool, is the oldest mining pool, and the first known to be publicly available. Slush's pool was announced on November, 27, 2010 under the name Bitcoin Pooled Mining Server and operated on a share strategy that involved an artificially low difficulty method that has since been determined to be vulnerable to cheating. The pool now follows a score-based method, where older shares (from beginning of the round) have a lower value than newer shares, which serves to demotivate a cheater from switching between pools inside a round. Balances accumulate on the server, and are sent out when a user-set threshold balance is reached. There is a fixed fee of 2%, as of March 10, 2011[1].

The coinbase signature for this pool is: "/slush/" [2].

Contents

DescriptionEdit

To produce (create) cryptocurrency more effectively together in groups. This has long been known, so miners have created pools, where everyone gets a reward, based on the power of their own equipment. Miners can change the floor at any time. To participate, you must have a special computer (farm) and cryptocurrency wallet for bitcoins. It is important that there is a lot of cryptocurrency, that is, not only bitcoin.

"Pool" (mining pool) is a server that distributes the task of calculating the block signature between all connected participants. The contribution of each of them is evaluated using the so-called "ball" (share), which are potential candidates for a precious signature. Once one of the "ball" hits the target, the pool announces the readiness of the block and distributes the reward.

Pool parts

The chart you see above reflects the global distribution of Bitcoin hashrate among the top mining pools according to blockchain data. It may not be 100% accurate, but it will give you an idea of the market situation and trends. according to the schedule it is clear that 50% of the total capacity of the Bitcoin network is concentrated in 4 main largest pools: F2Pool, AntPool, BTCChina, BW.com. All of this is China's largest pools, although some users from around the world and mined bitcoin on them. Most likely, this distribution is due to the fact that the largest Asian mining companies and equipment manufacturers use these pools for Bitcoin mining.

The situation with previously quite large European and American pools is not as favorable as in Asia. This is most likely due to the fact that bitcoin mining is becoming less attractive to private clients and moves towards large-scale industrial mining. We couldn't help but draw your attention to the fact that KnCMiner pool currently has 5% of the total capacity of Bitcoin network, and this is obviously the fifth largest Bitcoin pool. Important is the fact that this pool is not open to all comers. In fact, it is a private pool of KnC Miner, in which the company produces bitcoin for itself. KnC Miner no longer sells equipment to end users and other major mining companies. At the moment, KnC Miner positions itself as a "supplier of Bitcoin transaction processing technology", not just a manufacturer of mining devices. We would like to remind you that KnC Miner recently announced the construction of data centers for the deployment of its new mining devices built on chips according to the technological standards of 16 Nm. This means that KnC Miner will continue to increase its Bitcoin mining potential. At the moment, they have developed the fastest and most energy-efficient ASIC chip, which will be used only by themselves.

10 largest Bitcoin mining pools in the worldEdit

What is a Bitcoin Mining Pool?

AntPoolEdit

AntPool is based in China, is under the control of BitMain and produces about 15% of all blocks.

DiscasFish / F2PoolEdit

DiscasFish, also known as F2Pool, is also in China. It accounts for 12% of all blocks in the last 6 months.

BitFury PoolEdit

BitFury Is one of the largest manufacturers of equipment for mining bitcoin and chips. This pool is also accounted for 12% of all mined bitcoins. It's a private pool, you can't join it. It consists of three data centers in Georgia.

BW PoolEdit

BW was founded in 2014 in China, with about 8% of all blocks.

BTCCEdit

BTCC – it is the third largest exchange of bitcoin in China. The pool of this trading platform accounts for about 7% of the blocks.

ViaBTCEdit

ViaBTC-a completely new pool, there is about a year. Its share is 6.5%.

BTC.TopEdit

BTC.Top-also a new pool, which does not even have a site. It may not accept third-party members. Share-6%.

SlushEdit

Slush is the first mining pool, now its share is 6%. It remains one of the best and is very popular.

Bitclub.NetworkEdit

Bitclub.Network is a big pool with a share of 4.5%, but it has bad fame, so it is often recommended to avoid. 10. GBMiners Another pool with a share of 4.5%, which probably does not accept new members.

See AlsoEdit

External LinksEdit

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