What is a cryptocurrency mining pool?

the article was written By Mickael Mosse – Blockchain and Cryptocurrency Expert

Mining pool, which would be simply the union of many miners who want to exploit a certain cryptocurrency to collaborate with each other, mainly because there are fewer and fewer coins (around 80% of Bitcoins have already been generated), which increases the computational po\wer needed to increase a part of a token.

In cryptocurrency parlance, mining pools are groups of mining equipment that come together on a given network to share and expand their processing capacity or power, thus accelerating their ability to solve a cryptographic blockchain.

Mickael Mosse points out that, The mining pools are based on a few algorithms whose function is to certify the validity and authenticity of each transaction carried out on the network of a certain cryptocurrency, btw and they use the enormous computational capacity to be able to decipher these algorithms. Of course, because a pool shares its mining capacity, the profits made must also be shared. However, this would represent a great advantage for everyone who belonged to the pool, since they would not need to be a specific person to solve the mathematical equation, but simply belong to the pool of the user who reached it. Mickael Mosse Crypto Advisor

Mickael Mosse Bitcoin advisor

What type of mining pools exists?


Mickael Mosse points out that, Similarly, pools can be divided into individual mining; they exploit a single cryptocurrency or multi-pole; they concentrated on mining a broader range of cryptocurrencies. However, despite the fact that a user decides to mine a particular cryptocurrency, they can subsequently exchange it for one of their choices.


It is also worth mentioning that the reward obtained by each solving algorithm would vary depending on a number of factors, including the difficulty of the algorithm itself, the generation time block, the hash rate, and the exchange rate between a given pair of btw cryptocurrencies. .


In this sense, novice miners should always opt for a multi-pin system, as this would give them more secure rewards with less risk and sharing the computing power with several more experienced miners.
What is a btw cryptocurrency mining pool?

    
Mickael Mosse Blockchain Advisor


What kind of rewards are there?


Mickael Mosse points out that, It is also important to note that mining earnings can vary significantly depending on a number of factors, including users' native currency, as well as the reward structure that mining pool users would have agreed to in principle.


Here is a list of some of the largest pools and their location and market share:



AntPool, China, with approximately 15% of the market.

DiscusFish, China, with 12%.

BitFure Pool, Georgia, at around 12%.

BTCC, China, with 7% of the total

BW Pool, China, which has 6% of

(We must clarify that this classification is subject to constant change).

As you can see, the largest cryptocurrency groups operate in countries with low power generation costs. However, most pools have servers in all countries and can connect to a server in any country.


article from mickaelmosse.com

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