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What is crypto mining pool? How to choose a suitable mining pool?

By joining the mining pool and participating in mining, regardless of whether the effective blocks are successfully mined, you can earn tokens as reward according to how much you contribute to the mining pool.

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In the early days of blockchain, a single computer could make money on a daily basis due to the small number of miners. With the total network hashrate growing, however, independent mining quickly became unprofitable. To deal with, some developers have developed a way to combined operation of small amounts of hashrate, and the websites created in this way are called "mining pools."

By joining the mining pool and participating in mining, regardless of whether the effective blocks are successfully mined, you can earn tokens as reward according to how much you contribute to the mining pool.

A common mistake many novice miners make is to frequently change the mining pools for quick profit because of the promotion campaign by a mining pool. This approach wastes a lot of time, and the losses often outweigh the short-term benefits of the campaign. Miners should take into account the conditions of a mining pool in the following aspects:

·High Hashrate

Many people don't think the hashrate of a mining pool is an important indicator, because in the long run there won't be much of a difference in revenues. However, from the point of view of mining blocks, a mining pool with high hashrate is more stable in mining blocks, so that the benefits of miners can be guaranteed.

·Low Commission Fee

There are certain differences in the commission fees stipulated by the operators of platforms providing different mining pool services. Users naturally want to earn more revenues from mining, so we must choose the mining pool platforms with low transaction commission fees, so that users can earn more return of investment.

However, there is a misunderstanding here. The cost varies among mining pools, depending upon the payout schemes. Therefore, when comparing the commission fees, we should compare the commission fees under the payout schemes. It is generally recommended to choose mining pools adopting PPS or PPLNS payout scheme.

·Low Network Latency

The process of data transmission from the mining machine back to the server will be affected by geographical location, local network speed, mining pool server and many other factors. If the mining pool has high network latency, it has major impact on the revenues of miners.

BTC
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Issue amount 21000000
24 hours volume 2.35M
24 hours turnover $ 47.10B
Market Direction Long
Panic Index 25 (Extreme panic)
Swap Rate 12.29%
Market Value Proportion 39.64%
market value $ 2,092.55 x 100 million
24 hour increase 0.67%
Computing power 251.82 EH/s
daily output 0.00000401 BTC / T
Halving time

The public chain will have a halving cycle to maintain the value of the currency, and the market will rise sharply after halving in history.

Completed
Earnings volatility

The computing power of the entire network is due to the increase and decrease of mining machines, which affects the average distribution of revenue. If the computing power decreases, the average revenue will increase, and if the computing power increases, the average revenue decreases.

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ETH
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Issue amount 121630728
24 hours volume 15.38M
24 hours turnover $ 20.71B
Market Direction Long
Swap Rate 12.54%
Market Value Proportion 16.98%
market value $ 816.40 x 100 million
24 hour increase -0.08%
Computing power 855.24 TH/s
daily output 0.00001549 ETH / M
Halving time

The public chain will have a halving cycle to maintain the value of the currency, and the market will rise sharply after halving in history.

No halving expected
Earnings volatility

The computing power of the entire network is due to the increase and decrease of mining machines, which affects the average distribution of revenue. If the computing power decreases, the average revenue will increase, and if the computing power increases, the average revenue decreases.

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LTC
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Issue amount 84000000
24 hours volume 6.92M
24 hours turnover $ 378.93M
Market Direction Long
Swap Rate 9.71%
Market Value Proportion 0.40%
market value $ 22.76 x 100 million
24 hour increase 0.35%
Computing power 473.24 TH/s
daily output 0.00001567 LTC / M
Halving time

The public chain will have a halving cycle to maintain the value of the currency, and the market will rise sharply after halving in history.

No halving expected
Earnings volatility

The computing power of the entire network is due to the increase and decrease of mining machines, which affects the average distribution of revenue. If the computing power decreases, the average revenue will increase, and if the computing power increases, the average revenue decreases.

-9.65%
DASH
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Issue amount 18900000
24 hours volume 575.19K
24 hours turnover $ 24.14M
Market Direction Long
Swap Rate 5.26%
Market Value Proportion 0.04%
market value $ 3.68 x 100 million
24 hour increase -9.17%
Computing power 2.20 PH/s
daily output 0.00025654 DASH / G
Halving time

The public chain will have a halving cycle to maintain the value of the currency, and the market will rise sharply after halving in history.

Completed
Earnings volatility

The computing power of the entire network is due to the increase and decrease of mining machines, which affects the average distribution of revenue. If the computing power decreases, the average revenue will increase, and if the computing power increases, the average revenue decreases.

-61.40%
DCR
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Issue amount 21000000
24 hours volume 32.97K
24 hours turnover $ 870.50K
Market Direction Short
Swap Rate 0.22%
Market Value Proportion 0.03%
market value $ 2.51 x 100 million
24 hour increase -5.24%
Computing power 79.94 PH/s
daily output 0.00000411 DCR / G
Halving time

The public chain will have a halving cycle to maintain the value of the currency, and the market will rise sharply after halving in history.

No halving expected
Earnings volatility

The computing power of the entire network is due to the increase and decrease of mining machines, which affects the average distribution of revenue. If the computing power decreases, the average revenue will increase, and if the computing power increases, the average revenue decreases.

-88.36%
ZEC
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Issue amount 21000000
24 hours volume 670.31K
24 hours turnover $ 37.93M
Market Direction Short
Swap Rate 4.35%
Market Value Proportion 0.08%
market value $ 5.35 x 100 million
24 hour increase -7.05%
Computing power 10.10 GH/s
daily output 0.00028063 ZEC / K
Halving time

The public chain will have a halving cycle to maintain the value of the currency, and the market will rise sharply after halving in history.

Completed
Earnings volatility

The computing power of the entire network is due to the increase and decrease of mining machines, which affects the average distribution of revenue. If the computing power decreases, the average revenue will increase, and if the computing power increases, the average revenue decreases.

+67.77%
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