Ethereum Mining Pools

Comprehensive Guide throught Ethereum Mining Pools

Ethereum is one of the most popular cryptocurrencies in the world, and mining it can be a profitable way to earn some passive income. However, mining Ethereum solo can be challenging and risky, as you have to compete with other miners for the rewards and deal with the volatility of the market. That’s why many Ethereum miners join mining pools, which are groups of miners who share their computing power and split the rewards according to their contribution.

In this article, we will explain what Ethereum mining pools are, how they work, and what are some of the best ones to join in 2021. We will also cover some of the advantages and disadvantages of joining a mining pool, and how to choose the best one for your needs.

What are Ethereum Mining Pools?

Ethereum mining pools are platforms that allow miners to pool their resources and work together to mine new blocks on the Ethereum network. By joining a mining pool, you can increase your chances of finding a block and earning a reward, as you will have more collective hashing power than mining solo. You will also reduce the variance of your income, as you will receive more frequent but smaller payouts.

Mining pools methods to distribute the rewards among their members:

  • Pay-per-share (PPS): This is the simplest and most popular method, where you get paid a fixed amount for every share you submit, regardless of whether the pool finds a block or not. The pool takes on the risk of finding blocks and pays you from its own balance. This method guarantees a stable income, but it also means that the pool charges a higher fee to cover its expenses.
  • Proportional (PROP): This is a fair method, where you get paid according to your share of the pool’s total hashing power. The more power you contribute, the more you earn. However, this method also means that you only get paid when the pool finds a block, which can introduce some variance and unpredictability to your income.
  • Pay-per-last-N-shares (PPLNS): This is a variation of the proportional method, where you get paid according to your share of the last N shares submitted by the pool before finding a block. This method aims to discourage pool hopping, which is when miners switch between pools to maximize their profits. PPLNS rewards loyal miners who stay in the pool for longer periods, but it also introduces more variance than PPS.
  • Pay-per-share-plus (PPS+): This is a hybrid method that combines PPS and PPLNS. You get paid a fixed amount for every share you submit, plus a bonus based on your share of the last N shares submitted by the pool before finding a block. This method offers a balance between stability and fairness, but it also charges a higher fee than PPS or PPLNS.

There are other methods that mining pools use to distribute rewards, such as score-based, time-weighted, or equalized shared maximum pay per share (ESMPPS). Each method has its own pros and cons, and you should do your own research before joining a pool.

list of best Ethereum mining pools in 2023:

  • Ethermine: This is one of the largest and most popular Ethereum mining pools, with over 25% of the network hash rate. It uses a PPLNS method with a 1% fee, and pays out every hour. It has servers in Europe, Asia, and North America. It also offers a variety of features, such as detailed statistics, email notifications, mobile apps, and third-party integrations.
  • SparkPool: This is another large and reputable Ethereum mining pool, with over 20% of the network hash rate. It uses a PPS+ method with a 1% fee, and pays out every day. It has servers in Europe, Asia, and North America. It also offers a range of features, such as real-time monitoring, smart mining, and API access.
  • F2Pool: This is the oldest and one of the biggest Ethereum mining pools, with over 15% of the network hash rate. It uses a PPS method with a 2.5% fee, and pays out every day. It has servers in Europe, Asia, and North America. It also offers a variety of features, such as anonymous mining, loyalty rewards, and customer support.
  • Nanopool: This is a medium-sized and well-established Ethereum mining pool, with over 10% of the network hash rate. It uses a PPLNS method with a 1% fee, and pays out every hour. It has servers in Europe, Asia, and North America. It also offers a range of features, such as flexible payout settings, email alerts, and API access.
  • Hiveon: This is a relatively new and fast-growing Ethereum mining pool, with over 5% of the network hash rate. It uses a PPS+ method with a 0% fee, and pays out every hour. It has servers in Europe and North America. It also offers a variety of features, such as custom mining software, advanced statistics, and customer support.
  • FlexPool is a relatively new player on the market, but it is becoming more and more popular. It stands out for its innovative approach to fees, which may attract miners looking for more flexible solutions. If you’re curious about new options, FlexPool is worth checking out.

These are some of the best Ethereum mining pools in 2023, but there are also many other options to choose from. You should do your own research and compare different pools before joining one. You should also monitor your mining performance and profitability regularly, and switch pools if necessary.

One thought on “Ethereum Mining Pools”

  1. Hello, I have made a research on all forums I know (and in google too) to find all alive Ethereum Mining pools. I have made a table with all of them with real time updating. Find the best pool for you using ping and fee information. Less ping is better. Hope you find it useful( spent a couple of days to make it) visit https://investoon.com/
    If you know other pools, please let me know.
    Photo: http://i.imgur.com/avI308H.png

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