currency lock pool

1. When will the Poolin Pool close?

The Poolin Pool is expected to suspend the BSV mining service on May 7, 2020, Beijing time.
Extension information:
1. Since the computing level of the entire Bitcoin network continues to increase exponentially, a single device or a small amount of computing power cannot obtain the blocks provided by the Bitcoin network on the Bitcoin network. award. After the computing power of the entire network has increased to a certain level, the probability of obtaining rewards is too low, prompting some geeks on “bitcointalk” to develop a method that can combine a small amount of computing power for joint operation. Websites built using this method It is called “Mining Pool”.
2. In this mechanism, regardless of the amount of computing power available to individual miners, as long as they participate in mining activities by joining the mining pool, no matter whether they have successfully excavated valid data blocks, they can use the mining pool to participate in mining activities. Contribution to get a small amount of Bitcoin reward, that is, multi-person cooperative mining, and the Bitcoin reward obtained is also shared by multiple people according to their contribution.
3. PPS mode: Pay-Per-Share method—This method is to pay for each share immediately. The payout comes from the pool’s existing bitcoin funds, so it can be withdrawn immediately without waiting for blocks to be generated or confirmed. This prevents mining pool operators from manipulating behind the scenes. This approach reduces the risk to the miners, but transfers the risk to the operators of the mining pools. Operators can charge fees to cover the losses that these risks may cause. In order to solve the situation of PPLNS that sometimes the profit is very high and sometimes there is no profit, PPS adopts a new algorithm. Based on the proportion of your computing power in the mining pool, PPS estimates the amount of minerals that the mining pool can obtain every day, giving you a basic fixed income every day.
4. The calculation standard of the handling fee in the Bitcoin system is not mandatory, so the user can also not give any handling fee when the transaction is carried out, but most miners usually give priority to the data block with higher Transactions with high transaction fees in order to obtain higher rewards when mining is successful, so transactions without any transaction fees may take a long time to be processed and included in the blockchain.
5. The existence of the mining pool reduces the difficulty of mining virtual digital currencies such as Bitcoin, lowers the mining threshold, and truly realizes the concept of Bitcoin mining that everyone can participate in. But its disadvantages are also very obvious, because the computing power is connected to the mining pool. As a mining pool, it will have an extremely large computing power resource. In the Bitcoin world, computing power represents the right of bookkeeping, and computing power is everything. If the computing power of a single mining pool reaches more than 50%, it will be easy to launch a 51% attack on Bitcoin and other similar virtual digital currencies.

2. What is Bitcoin mining pools, which mining pools are more powerful

mining, may be one of the most important components of the Bitcoin ecosystem. Miners need to solve complex mathematical calculations to ensure the smooth execution of transactions. These problems are so complex that they are difficult to solve even for extremely powerful computers. Computers need work and luck to solve these math problems, just like miners dig underground. The odds of getting it right are about one in 13 trillion.

Bitcoin mining serves two purposes. First, by solving mathematical problems, Bitcoin miners can verify transaction information, thus guaranteeing the security and reliability of the Bitcoin payment network. Miners are the ones who ensure that transactions are accurate and that there are no “double-spends”.

Secondly, when a computer solves these complex mathematical problems on the Bitcoin network, the system produces new Bitcoins, similar to the process of mining gold from the ground. This reward is called the “block reward”, and its amount is periodically cut in half after an event called the “halving”. The concept of newly mined bitcoins is an important part of the bitcoin protocol. The bitcoins miners acquire are brand new and have never been in circulation before.

Since miners will eventually sell that bitcoin, this is also a great source of supply and liquidity. As Chainalysis reported, many digital currency exchanges rely on miners to receive bitcoin and increase liquidity on the exchange. Typically, exchanges receive about 88% of their Bitcoin from other exchanges, with Bitcoin miners being the largest source of the remaining percentage. As you can imagine, there is intense competition among exchanges to receive bitcoins directly from miners.

Further zooming in on the map, the majority of mining activities take place in only 4 provinces, the first two being Xinjiang and Sichuan, which account for nearly 10% of all Bitcoin mining in China half. Electricity is cheap in these areas and the weather is cold. This helps keep mining profitable and equipment cool during Bitcoin mining’s 24/7 operations.

But for digital currency issuanceThat said, this is nothing new. For years, China has been a major market for bitcoin miners due to its cheap electricity and abundant resources. Companies that account for a significant portion of the Bitcoin network’s computing power, such as Bitmain, f2pool, and Canaan, are all based in China.

Whether this is a negative or positive message depends on your point of view. But for a decentralized, distributed, permissionless network, a geographic area spanning multiple entities is healthier for the entire ecosystem.

3. Which is the best Bitcoin mining pool

This is the share of mining pools in the past three months:

But in fact, these are basically useless. It is nothing more than the difference between 100 yuan and 100.5 yuan. If your computing power is really large, it may be much worse, but if you have ordinary computing power , in fact, not much difference. It is more important to choose one with a low fee, or a fee-free one.

4. The difference between Binance transferring from a currency account to a mining pool wallet or not

Abstract The fluctuation of currency price is relatively large, then the currency price is relatively high Or when you reach your psychological expectations, you can use financial derivatives such as hedging, options and futures to lock in mining income in advance.

5. Is there anyone mining in the Poolin Pool? How about the income?

Yes, the income is good, compared to other mining pools, the income is higher, mainly because of good service .

I can’t find customer service for other mining pools. I don’t care if there is a problem, and I don’t compensate for the loss of computing power. I can contact you in time if there is a problem with the currency printing. The cute little currency printing is cute and mysterious. If there is a problem with the mining pool, the compensation should be compensated as soon as possible without any guarantee.

As the computing level of the entire Bitcoin network continues to rise exponentially, a single device or a small amount of computing power cannot obtain the block rewards provided by the Bitcoin network on the Bitcoin network.

After the computing power of the entire network has increased to a certain level, the probability of obtaining rewards is too low, prompting some geeks on “bitcointalk” to develop a method that can combine a small amount of computing power for joint operation, Websites built in this way are called “Mining Pools”.

In this mechanism, no matter how much computing power individual miners can use, as long as they participate in mining activities by joining the mining pool, no matter whether they have successfully excavated effective Data blocks can be rewarded with a small amount of Bitcoin by contributing to the mining pool, that is, cooperative mining by multiple people, and the Bitcoin rewards obtained are also shared by multiple people according to their contribution.

As of January 2019, the top five bitcoin mining pools with global computing power are: BTC.com, Poolin, AntPool, slush pool, and F2Pool. About 70% of the world’s computing power is in Chinese miners hands.

In the Bitcoin world described by Satoshi Nakamoto’s paper, the entire network produces a block every 10 minutes on average, and each block contains 50 (now 12.5, and Bitcoin is halved every four years or so) ) bitcoins.

And a block can only be dug up by a lucky person, who directly owns 50 (now 12.5, bitcoin is halved every four years or so) bitcoin, and others have no income , the probability of mining is proportional to the computing power of the equipment invested by the miners.

It is doomed that if the number of participants in Bitcoin mining is huge and dispersed to a certain extent, the probability of mining Bitcoin will be infinitely close to zero, similar to winning the lottery. Maybe invest in a mining machine to mine, according to the probability, it will take 5~10 years to mine a block, which puts Bitcoin mining in an embarrassing situation, making it almost impossible for ordinary people to participate.

6. What is DOG?

The full name of DOG is DogToken in English, and Dog Token in Chinese. The first issue date is March 9, 2021. Dogecoin is a decentralized and extremely deflationary currency based on the Huobi ecological chain. The liquidity pool is permanently locked, and the ownership of the smart contract is transferred to the black hole address on the day of issuance.

Every transfer transaction on the DOG coin chain will be tax deducted by 5%, of which 3% will be added to the MDEX fund pool to provide liquidity, 1% will be put into the black hole address in real time, and 1% will be allocated to the outside of the black hole address in real time. other holders of . Since the issuer has withdrawn at an early stage, the current DOG is completely driven by the DOG community built by the token holders.

DOG coin has a unique reward and deflation mechanism, and also has the characteristics of liquid transaction mining. Specific performance: The DOG in the wallet of the token holder will receive the dividend reward of each transaction in the world according to the locked blockchain smart contract, which cannot be tampered with to ensure that each token holder obtains a fair return, which is truly decentralized intelligence Contract dividends are distributed, and the dividends of each transaction are automatically credited to the wallet in real time.

7. Bitcoin mining pool: what is a Bitcoin mining pool

The mining pool is necessary for the mining of P2P cryptographic virtual currencies such as Bitcoin (digital currency) infrastructure, generally a team mining server that is open to the outside world, and its storageThe significance is to improve the stability of Bitcoin mining and stabilize the salary of miners. At present, the world’s largest mining pools include F2Pool, AntPool, BW Pool, BTCC Pool, and BitFury. Except for BitFury, the rest are from China.

As the number of people participating in mining increases, the computing power of the entire Bitcoin network continues to rise, and it is difficult for a single device or a small amount of computing power to mine Bitcoin. At this time, the mining pool was born.

The working principle of the Bitcoin mining pool

The mining pool breaks through the geographical restrictions and connects the computing power of miners and mining farms scattered around the world to mine together.

The mining pool is responsible for information packaging, and the incoming mining farm is responsible for competing for the right of bookkeeping.

Because the computing power of many miners is gathered, the computing power of the mining pool accounts for a large proportion, and the probability of mining Bitcoin is higher.

Example

Assume that 1 million people participate in Bitcoin mining, the entire network has 400P computing power, and 90% of the miners have a computing power below 1P (1000T). A 1T mining machine will account for 1/400,000 of the computing power of the entire network. In theory, one block can be mined every 400,000 10 minutes, that is, it takes 7.6 years to mine a block and then get 50 bits at a time. currency.

Then, if I find 9 more miners with 1T computing power mining machines and reach an agreement, we have a total of 10 people, and any one of them digs a block, according to the proportion of each person’s computing power If we divide it equally, then we are a whole, with a total of 10T computing power, then we can mine a block in 0.76 years on average, and then we have 5 bitcoins in 0.76 years. If we organize 100 people, What about 1,000, 10,000 or even 100,000 people?

If it is 100,000 people, then on average, 1 block can be mined in 100 minutes. As a part of the team, my income will be stable.

This is the basic principle of the mining pool, that is, if you form a team to mine Bitcoin, you can refer to the combined purchase in the lottery.

Of course, the above is just a brief description of the basic principles and properties of the mining pool, and the actual situation will be very complicated.

The mining pool is a fully automatic mining platform, that is, the mining machine accesses the mining pool – provides computing power – and obtains income.

The bitcoin rewards generated by mining pools will be distributed according to the proportion of computing power contributed by each miner.

Compared with solo mining, joining a mining pool can get more stable income.

I hope this answer is helpful to you

8. What currency does the mining pool support for digital currency mining

Currently OKEx mining pool The following currencies are supported: BTC, BCH, BSV, LTC, DASH, DCR, ETH, ETC, ZEC

9. What is the difference between Bitcoin mining pools

Mainly due to the different distribution modes of bitcoins obtained: According to the operation mode, the common bitcoin mining pools are as follows: PPLNS, PPS, DGM, P2Pool, etc.

PPLNS: (the purest team Mining) The full name is Pay Per Last N Shares, which means “paying the income according to the past N shares”, which means that once all miners find a block, everyone will be based on the number of shares contributed by each person. More recently allocating coins in blocks. (share means share)

In the PPLNS mode, luck is very important. If the mining pool can find many blocks in a day, then everyone will get a lot of dividends. If no block can be found, then everyone will have no benefit.

PPS: Pay-Per-Share method—This method is to pay for each share immediately. The payout comes from the pool’s existing bitcoin funds, so it can be withdrawn immediately without waiting for blocks to be generated or confirmed. This prevents mining pool operators from manipulating behind the scenes. This approach reduces the risk to the miners, but transfers the risk to the operators of the mining pools. Operators can charge fees to cover the losses that these risks may cause.

In order to solve the situation of PPLNS that sometimes has high profits and sometimes no profits, PPS adopts a new algorithm. Based on the proportion of your computing power in the mining pool, PPS estimates the amount of minerals that the mining pool can obtain every day, giving you a basic fixed income every day.

How about, do you feel that this is a stable job? In fact, in order to avoid the risk of losing money, mining pools in the PPS model often charge a high handling fee of 7%-8%.

DGM: Double Geometric Method. Double Geometric Method. Combining PPLNS and geometric reward types, so that mining pool operators can avoid part of the risk. Then return the normalized value to the miner later, like charging and discharging the capacitor, if you are lucky, you will be given less points per block, and if you are unlucky, you will be given more points.

175btc: The mining nodes of 175btc work on a share chain similar to the Bitcoin blockchain. Since there is no center, there is no DoS attack either. and other existing mining pool technologies.�Different—The block that each node works on includes the payment to the owner of the previous shares as well as the node’s own bitcoin. 99% of the reward (50BTC + transaction fee) will be equally distributed to the miners, and the other 0.5% will be rewarded to the person who generated the block.

Bitcoin Home Network has a detailed introduction.

10. Global Ranking of Bitcoin Mining Pools

1. Antmining Pool
Antmining Pool is an efficient digital currency mining pool, dedicated to providing Miners provide more friendly Batian, perfect functions, more
67% more convenient use and Douqiu, AntPool provides mining services for various digital currencies such as Bitcoin, Litetowel, and Taigong Temple, and supports PPS, PPLNS, SOLO and other payment methods.
II. Fish Pool
Fuchi is the world’s largest comprehensive digital currency mining pool. Founded in Beijing in April 2013, it is the world’s leading and China’s earliest bitcoin mining pool ;Fishpool has developed into the world’s largest comprehensive digital currency mining pool for Bitcoin, Litecoin, Ethereum, and Zerocoin; the mining pool technology continues to maintain its leading position, the revenue is open and transparent, and the original structure is used to effectively prevent DDoS attacks.
Three , BTC mining pool
BTC.com is the world’s leading Bitcoin data service provider, mining pool and wallet solution provider. Since 2015, the BTC.com team has started with industry infrastructure such as block browsers and is committed to In order to establish new standards in various segments, the BTC.com brand can be seen in wallets, mining pools, market prices, information and other fields.
Fourth, ViaBTC
ViaBTC(Viabtc Technology Limited) was established in 2016 In May, it is an innovative technology service company focusing on the field of digital currency. With strong technical strength, we have developed the world’s leading bitcoin mining pool, and launched a number of altcoin mining pools and cloud mining contract products. ViaBTC means “through Bitcoin”, and our vision is “to make the world a better place through Bitcoin”.
5. Dragon Pool
Dragon Pool. Known as the mining pool that understands miners best, it provides Bitcoin, Ethereum mining services.
6. Huobi Mining Pool
Huobi Mining Pool creates a new model of POW and POS mechanism in the blockchain field, and provides users with main chain voting, information, and point financing services.
VII. Bixin Mining Pool
In Bixin Mining Pool, we achieve real-time data update, reasonable market rate, and convenient and fast payment, mining has never been easier.
VIII , BW Mining Pool
BW Mining Pool is an efficient digital currency mining pool, dedicated to providing miners with a more friendly interface, more complete functions, more convenient use and more abundant and transparent benefits, the mining pool provides Bitcoin , Litecoin, Ethereum and other digital currency mining services, and supports PPS, PPLNS and other payment methods.
Nine, Poolin Mining Pool
Decentralization, making the world a better place, The technical output of the Poolin Pool team serves more than 500,000 mining equipment and more than 100,000 independent miners around the world.
10. Xingzhong Mining Pool
Open and transparent, efficient income, stable and innovative comprehensive Digital Currency Mining Pool, Xingzhong Mining Pool – Bitcoin Mining Pool, Litecoin, Ethereum Ethereum mining pool, the world’s largest comprehensive digital currency mining pool, high income, top technical support and services

0

Related Ad

Comments (No)

Leave a Reply