List of cryptocurrency mining pools

What is Crypto Mining?

Cryptocurrency mining is the process of earning coins like bitcoin by validating and confirming transactions. These transactions are verified by asic advanced computer chips intended for a specific use, rather than being used for general purposes. So, is bitcoin mining profitable? Those who got into bitcoin mining in the early days like 2011 and 2012 or even 2013 and 2014 are now multibillionaires. why? At the time, even though the price of Bitcoin was nothing compared to now, the output was just huge. 50 bitcoins and beyond 25 bitcoins were produced within 10 minutes.

But now, the scenario has changed. Bitcoin mining involves huge costs as the competition and the level of difficulty are also on the rise. Therefore, so-called mining complexes appeared, and miners moved to focus on other cryptocurrencies.

What is a mining pool?

In the world of cryptocurrencies, the concept of a mining pool, or mining pools for literal translation, refers to that process by which a group of people, or miners, share the calculations they perform on a particular network in order to share profits and prizes in the latter in a manner commensurate with The calculations that are done by each contributor, this process has an important role in trying to speed up the pace of finding blocks.

As part of the award is given to the members participating in the process, and that part is evaluated according to the concept of proof of work. Mining usually begins with the use of a mining pool when the mining becomes so difficult that it becomes very difficult to process the calculations, which can take centuries for weak miners to produce the blocks. That is why it seems clear that the best way to address this problem is for miners to collect their mining operations or calculations in a mining pool, which can lead to faster production of blocks, as well as getting a portion of the profits according to the work done in a matter of days instead of That would happen in several years.

Factors to pay attention to before choosing a cryptocurrency mining pool

reputation

One of the first factors to look at before joining any bitcoin and cryptocurrency mining pool is the pool's "reputation". Be sure to choose a group that: consistently gives rewards on time, provides excellent service, takes responsibility for payments, offers technical support or any other help, does not have any bad reviews.

Cryptocurrency mining pool size

If you want regular payments, you should choose a larger group. But the increase in the size of the pool is inversely proportional to the amount of payment that you will receive. Where the payment is shared among a larger group. If you choose a smaller group, the frequency of payments will decrease but the amount will increase. In the long run, the returns should be equal.

Payment scheme type

Calculating your share of mined cryptocurrencies is a complex process for a bitcoin mining pool. Several stock calculation schemes have been invented to come up with the most just method. The two most common types are pay-per-share (PPS) and dual engineering method (DGM), but there are many schemes available. _source wikipedia_

  • Solo Mining Single pools work in the same way as regular pools, with the only difference being that the block reward is not distributed between all the two miners. The full reward in the solo pool goes to the miner who finds the block.
  • Bitcoin pool mining (BPM) Bitcoin pooled mining method (BPM), also known as “Slush’s pool,” uses a system in which older stocks from the beginning of the block round are given less weight than newer stocks. This reduces the ability to cheat the mining pool system by switching pools during the round.
  • Maximum Payout Per Share (CPPSRB) Max Pay Per Share with Delayed Pay uses the Max Pay Per Share (MPPS) method that will pay miners as much as possible using the income from finding blocks, but will never go bankrupt.
  • Dual Geometric Method (DGM) The Dual Engineering Method (DGM) is a hybrid model that enables the Bitcoin mining pool operator to absorb a certain percentage of risk. The Bitcoin mining pool operator then receives a certain portion of the payments during the short rounds and returns it during longer rounds to normalize the payments.
  • Eliius The Eligius method was designed by Luke Jr. , creator of BFGMiner. Eligius uses the strengths of Pay-Per-Share (PPS) and Bitcoin Pooled (BPM) mining pools, where miners provide proof of work to earn shares and the Bitcoin mining pool pays out rewards instantly.
  • Equal joint maximum share limit (ESMPPS) Common Maximum Pay-Per-Share (ESMPPS) is similar to SMPPS, but distributes payments equally among all miners in a Bitcoin mining pool
  • Pay Per Share (PPS) For each share submitted by the user, a fixed amount is paid to him. This pay-per-share (PPS) method offers an instant and guaranteed return for every share dissolved by a bitcoin miner. Miners are paid from the pools current balance and can withdraw their payments immediately. The PPS model allows for the lowest possible pay variance for the miners while also transferring a lot of risk to the pool operator.
  • proportional (PROP) The proportional method provides a proportional distribution of the reward when a block is found among all the workers, based on the number of shares they found, the proportionality theory applies here, the more shares the user discovers, the higher he will be paid.
  • Pay Per Share N Shares (PPLNS) The pay-per-part N-share (PPLNS) method is the same as the proportional method (PROP) except for the fact that instead of counting the number of shares in a round, it looks instead at the last N shares, regardless of the round boundary.
  • Pay On Objective (POT) It is a high variance PPS method that is paid according to the difficulty of the work returned to the bitcoin mining pool by a miner, rather than the difficulty of the work done by the pool itself.
  • Maximum Payout Per New Share Share (RSMPP) The RSMPPS is also similar to the RSMPPS, but the system prioritizes the latest bitcoin mining first.
  • SMPPS Common Maximum Pay-Per-Share (SMPPS) uses a similar Pay-Per-Share (PPS) approach but never pays more than the Bitcoin mining pool has earned.
  • Triplemining Medium sized pools with no fees and reallocating 1% of every block in existence, allowing your stake to grow faster than any other Bitcoin mining pool approach. The managers of these bitcoin mining pools use some of the bitcoins generated when a block is found to add it to the jackpot being run and pay out to the pool member who found the block. This way, everyone in the pool has a better chance of making additional bitcoins, regardless of their processing power.

profitability

Ensure that the Bitcoin mining pool you want to join has a good percentage of hash power on the Bitcoin network. A good percentage of hash power means good chances of mining large numbers of blocks that will bring higher rewards.

Bitcoin mining pool fees

The fees for different mining pools can range from 0% to 3%. Although you may not be able to see it when you sign up, the following list of mining pools gives you a brief look at the fees for each pool.

 

List of the best reliable bitcoin and cryptocurrency mining pools in Arabic

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