Since the launch of cryptocurrencies, mining has been in existence and it is one of the ways crypto investors could earn coins. Mining refers to the solving of mathematical problems and also the validation of blocks on the network. Miners are rewarded for validating blocks. Mining involves the use of electricity and hashing rates for discovering these blocks. Mining has become so expensive for the common man, that is why mining pools have been developed to reduce the burden of one man mining. Mining pools have been referred to a group people who have come together to contribute various computing powers and electricity to ensure that they mine and get rewards which would be shared according to the level of contribution each user puts in.
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Some of the best mining pools include :
Slush Pool
This mining pool was established in 2010 and then it was known as the Bitcoin Mining Pool. This mining pool happens to be the oldest and also the most active mining pool in the world. Not only is it the oldest, it has a reputation for being one of the more trustworthy and most stable pools in the world. This old mining pool seats as the 4th largest pool in the world and it represents about 11.4% of the total hash power in the world. Interestingly, this pool has a simple to use interface and it also offers users a demo version which allows them to familiarize themselves with the mining process.
One important fact of this mining pool is that it is a democratic pool which means that users have the right to choose what you want to mine and which device to use.
AntPool
This mining pool happens to be the largest pool actively operating right now. This mining pool was established by a China-based company Bitmain. This mining pool has it servers all over the world and it makes use of the P2P (Peer to Peer) protocol which quickly links your device to anyone that is closest to you. It makes use of this protocol to ensure that there is a faster and more secure connection. This pool allows users to choose how they want to receive their rewards, either through the PPNLS and the PPS method.
BTC.com
This is one of the most reliable and trustworthy brands in the crypto world, and this poll owns the domain BTC.com and the Bitcoin.com. Before this mining pool was established, BTC.com was already famous for developing one of the most powerful and advanced Bitcoin wallets that have been developed. This pool is in competition with the Antpool mining pool based on which would become the largest in the world.
KanoPool
Although being one of the smallest pools in the world, this pool happens to be one of the oldest. It only represents about 0.3% of the total hash power. This mining pool gained prominence because of its easy-to-use interface and also its too easy setup procedure.