If required, the pool does allow you to fix your hardware on just one altcurrency too. However, Mark from nut2pools. Then all the multipools swing round, push the difficulty through the roof in a few hours, then leave again. It leaves the loyal coin followers having to mine the difficulty back down again at very low profitability.

There are many schemes by which pools can divide payments.

Pool Concentration in China

Most of which concentrate of the amount of ‘shares’ which a miner has submitted to the pool as ‘proof of work’. Shares are a tricky concept to grasp. Keep two things in mind: When a miner ‘solves a block’ there is a corresponding difficulty level for the solution.

Think of it as a measure of quality. If the difficulty rating of the miner’s solution is above the difficulty level of the entire currency, it is added to that currency’s block chain and coins are rewarded.

Additionally, a mining pool sets a difficulty level between 1 and the currency’s difficulty. If a miner returns a block which scores a difficulty level between the pool’s difficulty level and the currency’s difficulty level, the block is recorded as a ‘share’.

There is no use whatsoever for these share blocks, but they are recorded as proof of work to show that miners are trying to solve blocks. How to Join Antpool The pool is free to join and the process is simple.

What is a Mining Pool?

First, you need to acquire Bitcoin mining hardware. Then you need to download mining software. If you need help deciding, I suggest you take a look at our hardware and software guides. So make sure to make the right choice in order to optimize your rewards.