Due to the high complexity of calculations, cryptocurrency mining for most miners is no longer profitable without combining capacities with other miners.
In order to find blocks of profitable coins and receive a reward for this, you need to either have very powerfulEasiest crypto to mine in 2021 equipment and mine solo or combine your power with others and work together to earn cryptocurrencies on the pool with the subsequent division of the reward between the miners.
This article discusses the question of how best to mine solo or in a pool, which pools are more profitable to mine, and what are the most profitable mining pools.
What is a cryptocurrency mining pool?
Due to the presence of a large number of popular cryptocurrency miners, the complexity of their mining is so high that it requires very productive calculations, which in most cases cannot be done independently - in solo mode. At the same time, if the user has free computing power that is insufficient for solo mining, then he can give them to pools for joint mining and also receive a reward for this.
A mining pool can theoretically be created by anyone with a server. But in order to achieve high profitability of the newly created pool, it is necessary to have sufficient aggregate mining power. This is easy to achieve for low-difficulty coins that are of little interest and therefore unprofitable. For popular coins, you need to either have your own good power Easiest crypto to mine in 2021 or have a large number of miners connected to the server. This is not easy to achieve, since this market has existed for many years and there are quite a lot of pools with a well-deserved reputation operating on it.
How mining pool works
A mining pool is a server, or several synchronized servers, which are used to distribute calculations for finding blocks of a certain cryptocurrency between miners connected via the Internet.
Miners perform parallel work on finding solutions to the blockchain of a certain coin ( looking for hashes ) and send it to the pool's servers. When a block with the correct hashed signature is found, the pool sends it to the network and, having received consensus from other network participants, receives a reward for this, which is divided among the miners who participated in this work.
What you need to know, registration and basic settings
Some cryptocurrency mining pools not require registration, and some of them require the creation of an account associated with the user's email address.
Before using a pool for mining, you need to understand how to connect to it, what is the commission for using its services, the minimum threshold for withdrawing coins.
Registration on a mining pool usually includes the following steps:
creating a username and password;
Entering an email address and confirming it.
Which pool is better for mining
The best mining pools should have the following qualities:
minimum commission for using their services (mining and withdrawal commission);
24/7 availability and the ability to monitor the work of workers;
honesty, reliability and long existence (among the owners of pools there are also scammers who steal part of the miners' power or disappear into oblivion with the funds earned by miners);
high computing power, which makes it more likely that blocks will be found regularly (with a low pool power, all work will be wasted due to the low probability of finding them);
small ping from the user's mining equipment to the pool servers to ensure timely receipt of tasks from the pool and reduce to a minimum the number of late decisions (stale shares) - the ball that came from the miner to the server after the block was found and work began to search for new ones hashes;
with a low mining power, you should pay attention to the minimum payout threshold so that you don't have to wait for it for a long time.
To find a good pool, you need to search for the most productive ones using the explorer of found blocks. For example, on the set and Ethereum website etherscan.io, you can track the last found blocks and who found them:
Which pool to choose, Russian or European
For the miner, the place of registration of the pool does not really matter, the main thing is the presence of the above qualities ( low commission, reliability, high computing power, low ping ).
Russian mining pools, with their close territorial location, should have a low ping, so they can bring more income with an honest distribution of rewards. They may be less powerful than foreign ones, but if the difference in power is not so great, then you can focus on them.