Blockchain mining is a process where cryptocurrency is secured and becomes a decentralized security. This does not involve the creation of new blockchains, but rather the validation and recording of existing transactions. Blockchain mining requires the solution of a complex mathematical equation, and the reward for the effort is payment in new cryptocurrency. Blockchain mining requires immense resources and computing power. Therefore, in order to take advantage of economies of scale, miners join into pools to achieve greater efficiency of efforts. Below are some of the more advantageous ethereum mining pools that are in existence.
Ethpool is a large ethereum mining pool that is accessible to even ordinary miners. With fees of only one percent, Ethpool is an economical means of mining and allows miners to retain more of their profits. Ethpool allows miners to mine solo, and the miner who does the bulk of the work for the pool will receive 100% of the payment. Ethpool has a hash rate power of 25% that it adds. Ethpool offers low uncle rates. An uncle rate is the result of a process that results in an orphaned blocks. Unlike other pools, there is no merged mining available on Ethpool.
MiningPoolHub supports not just ethereum, but also 30 additional cryptocurrencies. It charges low fees of 0.009 , which is comparatively lower than most pools. It has a minium payout of 1 ETH. MiningPoolHub has an auto-trade feature that permits users to trade ethereum, as well as the other cryptocurrencies. The pool also offers Algo switch mining and Multi-Algo switching. MiningPoolHub also features simple mining.
F2Pool allows for merged mining and the ability to monitor the hash rate in real-time. It gives over 25 percent of its hash rate. F2Pool supports several different cryptocurrencies. Its fees are higher than some of the other pools, checking in at four percent. These fees, however, are justified by the extensive services that F2Pool provides. F2Pool has advanced customer service. In addition, F2Pool’s operating features will help direct miners to the most profitable coins to mine.
NanoPool allows for mining of seven cryptocurrencies, including ethereum. NanoPool is the third-largest pool in existence, with 13.2% of the hash rate. NanoPool charges a one percent fee for mining ethereum. This is considered to be a reasonable fee rate. Certain types of cryptocurrencies, however, have higher rates on the platform. NanoPool has a reputation as a reliable platform, which is easy to use. NanoPool has a responsive customer service department, but it does not offer merged mining. NanoPool allows for miners to be able to calculate the profitability of the coin that they are mining.
Dwarfpool permits mining in ethereum and four other cryptocurrencies. DwarfPool has a hash rate of just over four percent. DawrfPool is a stable network, which offers extra protection against being hacked. DwarfPool has a high profitability and offers steady mining returns with less variance than other sites. Individual miners have a higher probability of continuous earnings with DwarfPool than they would using other exchanges.
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