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Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: Buenoscoin on July 23, 2018, 12:25:04 AM

Title: What kinds of mining pools are there?
Post by: Buenoscoin on July 23, 2018, 12:25:04 AM

The pools can be divided into individual mining; that undermine a single cryptocurrency, or multipools; that would focus on mining a wider range of cryptocurrencies. However, even if a user opts for mining a particular cryptocurrency, he may later exchange it for his preference.

It is also worth noting that the reward obtained for each algorithm resolution would vary depending on a number of factors, such as the difficulty of the algorithm itself, the generation time of blocks, the hashrate and the exchange rate existing between a certain pair of cryptocurrencies. .

In this sense, beginning miners should always opt for a multipool, because this would give them safer rewards at lower risk and sharing the computing power with several more experienced miners.

The mining pools are based on some algorithms whose function is to certify the validity and authenticity of each transaction made in the network of a certain cryptocurrency, and that use an enormous computational capacity to be able to decipher these algorithms. Naturally, since a pool shares its mining capacity, the profits obtained must also be shared. However, this would represent a great advantage for all those who belong to the pool, because It wouldn’t be necessary a determined person to solve the mathematical equation, but simply to belong to the pool of the user who achieved it.

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Title: Re: What kinds of mining pools are there?
Post by: luvr1000 on August 04, 2018, 02:12:19 AM

Thank you for the good article. Honestly, I thought that the extraction of crypto currency is already in the past, but I see that this topic is still very interesting for many. It is necessary to learn more and buy equipment for earnings. ;D

Title: Re: What kinds of mining pools are there?
Post by: Nestle on August 04, 2018, 03:36:01 AM

I do not understand the concept of mining in crypto. very difficult to learn. maybe I need time to learn how crypto and blockchain technologies work.