Uncles are legitimately mined blocks that didn’t end up in the Ethereum blockchain since a different block was accepted due to time lags in the network. Payouts – How are payouts calculated? Are they only for the block reward or do they include transaction fees and uncle fees as well? However, your payout will probably be smaller.įees – How much does the pool charge its participant in management fees? This usually revolves around 1%-3% Pool size – The larger the pool, the more chances you have of finding a block. Solo mining may give you larger rewards if you mine a block, but the chances of actually mining a block alone are slim to none.Ĭhoosing a pool relies on different factors such as: When mining with a pool, your chances of getting a steady stream of income rise dramatically, as opposed to solo mining. Here’s the mining pool distribution on the Ethereum network: Once a block is found by the pool, the rewards are split between the pool participants in direct relation to the mining power contributed by each one. Mining pools are groups of miners, who band together in order to increase the likelihood of mining an Ethereum block. An Ethereum wallet to collect your earnings.In order to mine Ethereum you’ll need the following: New to Ethereum Mining? Watch Our Video Guide First For a more detailed review of each pool keep on reading, here’s what I’ll cover: That’s Ethereum mining pools in a nutshell.
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