Altcoin mining pool review

This process makes later shares worth more than earlier shares and scored by time, thus rewards are calculated in proportion to the scores and not shares submitted. Share Tweet Slush Pool is a well established oldest mining pool. It is better known as Discus Fish mining pool in the world of Bitcoin mining. Just Want Bitcoins? So if you use Antpool you are not solo mining by default.

Many mining pools turned out scams last year. It is important to choose a stable and reliable service before starting mining. Disclaimer: The opinion expressed here is not investment advice — it is provided for informational purposes. It does not necessarily reflect the opinion of U. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions.

What is a Mining Pool?

Where Bitcoin blocks are verified roughly every 10 minutes, Litecoin blocks are verified every 2. While Litecoin uses a different algorithm than Bitcoin, it is still a proof of work coin, and as such it can be mined to be awarded Litecoins. The lower the fees are, the more Litecoin you get to keep for yourself, so choosing a low fee pool is an obviously good choice. The closer you are to the pool servers, the better your mining performance will be. Beyond that is a short discussion regarding the recent addition of ASIC Litecoin mining hardware, and what that can mean for Litecoin miners. See, choosing a Litecoin pool is actually pretty easy after all.

Pool Concentration in China

Litecoin was designed to complement Bitcoin by solving issues like transaction timings and concentrated mining pools. Originally, Litecoin was a fork or spinoff from Bitcoin but with some modifications. Charlie Lee modified the code and protocol in the way he considered best in order to achieve large-scale adoption of the currency.

By doing so, Lee enhanced the Litecoin transaction speed and now Litecoin is capable of facilitating payments around 4x as fast when compared to Bitcoin.

The Scrypt algorithm is very memory-consuming and makes it difficult to operate concentrated mining pools. Litecoin mining is the processing of a block of transactions into the Litecoin blockchain. Litecoin mining requires solving for algorithms, and being the first to reach a solution is rewarded with tokens as payment.

Click here to see current litecoin value charts and here if you want to read more on how and where to store litecoin tokens. A hashing algorithm is a cryptographic hash function that maps data of any random size to a hash of a fixed size. SHA Algorithm: algo generates a unique byte bit signature for text strings. Litecoin, Dogecoin, Latium, Bitmark are a few among several more that are based on the Scrypt algorithm. CryptoNight Algorithm: This algo was created with home miners in mind — it is designed to support mining on personal computer CPU.

This is the algo most of the privacy focused coins use. It is a combination of two currently used works. But dagger was susceptible to pressure in shared memory hardware acceleration. The popular cryptocurrencies that are based on it include Ethereum, Ethereum Classic, and Expanse.

Solo mining used to be a thing in dawn of the cryptocurrencies. Right now, as the mining industry gets professionalized and corporated, solo miners are endemic species. But, the differences are still worth explaining.

If you mine solo, the blocks you mine will be completely random. You could mine two blocks in a day. You could go three weeks without a block. Welcome Package up to 7 BTC! If you mine in a pool, you take the pool fee right off the top. But your revenue is more predictable. One disadvantage of a mining pool is its centrality — most pools today have central nodes that can be DDOSed, and if not configured accordingly when a DDOS happens the miner will just sit idly instead of reverting to a different pool or to solo mining.

What is the criteria you should consider when choosing the right mining pool to join? Well, most of the below listed criteria points are rooted in basic common sense, like fees the lower, the betterpool reputation and uptime.

Trustworthy pool operator ties into the pool reputation factor that we mentioned. This is probably the most important criteria to examine: do your research on the internet, ask questions in mining and crypto communities to see if there are negative reports and personal experiences with the pool.

Fees are self-explanatory; the lower the fees a pool charges for itself, the more money is left for you. You want the pool to have a big hashrate to make sure it will mine a lot of blocks and your payouts will be regular.

Server location and uptime — location plays role because of the latency — you need to be quick in broadcasting that found block, especially when mining a coin with huge hashrate and big mining difficulty. Uptime is a big deal.

Just like with regular websites, if it is offline when someone visits, the owner loses money. Same with mining pool servers — if they are offline, all miners in the pool lose money as nothing gets broadcasted to the blockchain. Payout schedule is also a minor factor.

It is an individual preference as some people like few bigger payments while others like a lot of smaller payments. Payout schemes are also a condition to pay attention to. Altcoin mining pool review are numerous payout designs, some of the most common are. LitecoinPool is one of the most renowned and oldest Litecoin mining pools, launched in November by one of the main Litecoin developers that goes under a moniker Pooler.

Plus, with the PPS system you are paid even if a block gets orphaned by the Litecoin network. The pool initially mostly utilized the Antminer S9 hardware, at the time one of the most powerful ASIC mining devices. Since its establishment, ViaBTC has managed to maintain an uptime of greater than The pool takes a percentage of the mining income to acquire funds for managing the accounts and covering all normal maintenance, including costs for the mining farm, deployment, repairs, staff salaries, risk prevention, and any other necessary expenses.

Their user UI is also lauded for its simplicity and usefulness. The pool is said to be the one utilized by past Bitcoin community member and current most famous Bitcoin Cash promoter, Roger Ver. The pool is one of the most prominent ones out there and offers a native Bitcoin wallet as well as a related forum with an active community. The pool operates on a Pay per Share model where the operator gives an instant, guaranteed payout to a miner for his contribution to the probability that the pool finds a block.

The pool offers three types of cloud mining contracts and there is usually a requirement to join a waiting list to get one. The payments miners get based on their contracts are delivered daily. Overall, the pool is considered legitimate by the community even though there are split opinions on Bitmain and their business practices. Prohashing is a multi-cryptocurrency mining pool that pays miners in any coin. It uses the PPS payment model and was founded back in by three engineers.

Prohashing also takes it a step further by merge mining at the same time to further increase profits. They offer other detailed statistics such as mining efficiency, miners count, hash rate. For anyone who owns a Scrypt miner this is one pool that is recommended, the ability for payout in any cryptocurrency or even USD via Coinbase is excellent. The pools listed below are all big pools that we do not recommend joining because it would go against the ethos of the whole cryptocurrency idea which rests on the premise of decentralized, leaderless, peer to peer power relations.

One very young mining pool, created in in China. Launched by Blockin, a global online platform focused on developing blockchain related technologies and enterprises. Poolin might not be among the oldest and most talked about pools out there, but their hash rates speak for themselves. F2Pool is a Chinese mining pool which was created in It also offers merged mining with Namecoin, Syscoin and Dogecoin.

It has minimum withdrawal limits which sit at 0. The UI is simple and well presented, thus being suitable for beginners. F2pool is currently second biggest litecoin pool by hashrate, controlling Another one of the popular mining pools, AntPool has been founded in There have been very few complaints about the legitimacy of this pool throughout the past. The pool is said to be supported by servers running all across the world to ensure it remains up all the time.

AntPool offers three types of mining contracts. Finally, the pool has a variety of security options, including two-factor authentication, email alerts, wallet locks, as well as a sleek interface suitable for beginners. Overall AntPool is also seen as a trusted mining pool that will let you profit by mining coins. Some people cite their fees as being on the higher side but they justify this with the quality of mining service they offer.

Overall, another solid pool to be a part of, whether you are an up and coming miner or a mining veteran. According to coinwarz. CaptainAltcoin’s writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses.

None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin. Felix Kuester works as an analyst and content manager for Captainaltcoin and specializes in chart analysis and blockchain technology.

He is also actively involved in the crypto community — both online as a central contact in the Facebook and Telegram channel of Captainaltcoin and offline as an interviewer he always maintains an ongoing interaction with startups, developers and visionaries.

The physicist has couple of years of professional experience as project manager and technological consultant. Felix has for many years been enthusiastic not only about the technological dimension of crypto currencies, but also about the socio-economic vision behind.

We have seen a strong need for better media coverage in the industry as the rise and popularity of digital currency is at an all-time high. Journal Mining. Brave Browser is faster and more private browser that has its own cryptocurrency ecosystem. Install it now! You should consider whether you can afford to take the high risk of losing your money.

We will be happy to hear your thoughts. Leave a reply Cancel reply. Who are We? Captain Altcoin is made up of investors and digital currency enthusiasts. We strive to share the most reliable, interesting, and accurate information to our readers.

BEST CRYPTO TO MINE 2018 — Ultimate Loki Network Mining Guide Rx 570/580/Vega Linux & Windows

In this article, we have reviewed some of the best Bitcoin mining pools which is helpful for you to get started. Altcoij people want to use the pools above for Ethereum. Solo mining means you mine for bitcoins without joining a pool. It is very easy to create an account, altcoib to signing up for any Bitcoin exchange platform. ViaBTC is a somewhat new mining pool that has been around for about one year. The stats of their pool have their own GitHub. Antpool claims that it does not charge any fees for using its pool. Altcoin mining pool review comparison chart above is just a quick reference. Inactive accounts of users possessing some earnings in it will be suspended by the site after 90 days of inactivity. The payout threshold is really low and offers regular payouts. But most likely you will have to pay income tax on income from mining pools just like you would for any other type of income. Buy Bitcoin Worldwide does not offer legal advice. F2Pool allows mining of Bitcoin, Litecoin, and Zcash. This is a cool feature for all the miners. Our site minint contain affiliate links and as an Amazon Associate we earn from qualifying purchases. We strongly recommend joining Slush Pool or Poolin minibg. But, most of the pools listed above are only for Bitcoin mining.