The common perception among crypto-miners is that they must choose between consistent daily payouts and high-risk / high-reward profits. The choice appears to comes down to either valuing the peace of mind that comes from stability, or recklessly gambling with the hope of one day hitting the jackpot.
Today we’d like to offer proof for why you no longer have to make that uncomfortable choice.
Yes, with Whalesburg you can have both stability and high profits!
Introducing PPS+, a New Reward Distribution Scheme!
Stability:
We consider our miners’ user experience a top priority. That is why we decided to switch to PPS+. With PPS+ you no longer have to worry about wildly volatile payouts. PPS+ makes your daily payouts consistent and comfortable.
PPS+ is a payout scheme that allows miners to receive payment for every share submitted, regardless of how many blocks were found and so called “pool luck”. This scheme enables consistent payouts every 20 minutes.
The reward for every share is calculated based on the average block reward that the pool receives and the average network difficulty for the past 20 minutes. We treat all the blocks mined as blocks with 100% variance, and we are paying our miners even for blocks that are not found yet.
How is this possible, you ask? Isn’t that an advance payment system?
The answer is that we have full trust in the math. We know that over the course of several hundred blocks, variance will be equal or very close to 100%. This is why neither miners, nor the pool are in a disadvantaged position when PPS+ is implemented.
Meanwhile transaction commission which pool receives with every full block will still be distributed according to PPLNS scheme because transaction commissions may vary and we cannot predict the number. So to be fair to our miners we will use PPLNS so that everyone gets their % of reward.
Profitability:
By far the most common concern raised by miners is that when we move to PPS+, profitability is going to drop down to just “average”!
Rest assured. This will NOT happen. First of all, Whalesburg was never meant to be average :)
You don’t need to worry. That’s because our advanced profit-switching algorithm will keep working for you to bring you higher profits. The only difference is that with PPS+, the reward for every share is calculated based on the pool’s average block reward. This means the high profits stay, while the uncomfortable volatility disappears.
In case you’re still not convinced, let’s take the theory and put it into practice to prove the effectiveness of the new system.
We have built a model of pool balance to simulate using PPS+ starting from the moment when we enabled ETH mining at the beginning of October.
As you can see from the graph below, the pool balance had rather dramatic ups and downs. However, if you look at the overall monthly balance, it has evened out by the end of the month. This is proof that the PPS+ scheme works correctly for both miners and the pool. Everyone gets their fair share :)
If that looks too volatile for you, here is another graph to give you an idea how this new PPS+ will look like for a regular miner with 1GH/s. For this model we took the same period.
As you can see miner’s income is consistently high.
Our mission has always been making mining not only profitable but enjoyable.
Start mining now and enjoy stable payouts and high profits!
Stay tuned!
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Medium: https://medium.com/@whalesburg