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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
Shut Down
Issue amount 21000000
24 hours volume 972.49K
24 hours turnover $ 68.19B
Market Direction Short
Panic Index 78 (Extremely greedy)
Swap Rate 4.94%
Market Value Proportion 51.42%
market value $ 10,293.58 x 100 million
24 hour increase 3.15%
Computing power 797.15 EH/s
daily output 0.00000060 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.

0%
LTC
Shut Down
Issue amount 84000000
24 hours volume 21.50M
24 hours turnover $ 2.04B
Market Direction Short
Swap Rate 28.92%
Market Value Proportion 0.26%
market value $ 46.79 x 100 million
24 hour increase 9.19%
Computing power 1.57 PH/s
daily output 0.00000348 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.

0%
BCH
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Issue amount 21000000
24 hours volume 3.75M
24 hours turnover $ 1.88B
Market Direction Short
Swap Rate 19.06%
Market Value Proportion 0.39%
market value $ 55.25 x 100 million
24 hour increase 7.79%
Computing power 3.36 EH/s
daily output 0.00012667 BCH / 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.

0%
FIL
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Issue amount 2000000000
24 hours volume 134.20M
24 hours turnover $ 1.25B
Market Direction Short
Swap Rate 25.43%
Market Value Proportion 0.18%
market value $ 62.61 x 100 million
24 hour increase 9.99%
Computing power 22.63EiB
daily output 0.00379091 FIL / TiB
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.

0%
XCH
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Issue amount 31234162
24 hours volume 619.57K
24 hours turnover $ 26.36M
Market Direction Short
Swap Rate 9.36%
Market Value Proportion 0.01%
market value $ 3.95 x 100 million
24 hour increase 11.08%
Computing power 14912.60839843 PiB
daily output 0.00020948 XCH / TiB
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.

0%
ETC
Shut Down
Issue amount 210700000
24 hours volume 31.82M
24 hours turnover $ 799.17M
Market Direction Short
Swap Rate 23.14%
Market Value Proportion 0.33%
market value $ 31.92 x 100 million
24 hour increase 13.39%
Computing power 245.99 TH/s
daily output 0.00005049 ETC / 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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