{"id":47384,"date":"2022-04-30T16:30:00","date_gmt":"2022-04-30T14:30:00","guid":{"rendered":"https:\/\/captainaltcoin.com\/what-is-pool-mining\/"},"modified":"2022-04-30T16:30:57","modified_gmt":"2022-04-30T14:30:57","slug":"what-is-pool-mining","status":"publish","type":"post","link":"https:\/\/captainaltcoin.com\/de\/what-is-pool-mining\/","title":{"rendered":"How do Mining Pools Work And How To Choose a Pool To Join?"},"content":{"rendered":"\n

Let’s start with the definition of pool mining:<\/p>\n\n\n\n

What is a mining pool? A Mining Pool is a protocol for a group of miners to work together, in order to smooth out their mined coins.<\/p>\n\n\n\n

How do crypto pools work? Pooled mining is a mining approach where multiple generating clients contribute to the generation of a block, and then split the block reward according the contributed processing power. Pooled mining effectively reduces the granularity of the block generation reward, spreading it out more smoothly over time.<\/p>\n\n\n\n

So, bitcoin mining pools<\/a> are a way for Bitcoin<\/a> miners to pool their resources together and share their hashing power while splitting the reward equally according to the amount of shares they contributed to solving a block.<\/p>\n\n\n\n

The mining pool meaning that it coordinates the workers. It’s just like a lottery pool. Your odds of winning a lottery are very low, so you team up with a bunch of other people and agree to split the winning. This makes your odds of winning much higher, but the amount you win much lower.<\/p>\n\n\n\n

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What a mining pool does is function as a coordinator for all the pool participants doing:<\/p>\n\n\n\n

  1. Taking the pool members hashes<\/li>
  2. Looking for block rewards<\/li>
  3. Recording how much work all the participants are doing<\/li>
  4. Assigning block rewards proportionally to participants<\/li><\/ol>\n\n\n\n

    Miners mine differently by running pool software instead of the bitcoin client and just performing hashes for the pool.<\/p>\n\n\n\n

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    What you'll learn \ud83d\udc49<\/p>\n