Ethereum pools 2018

This means that there is hash power equal to 1. Each pool has its own payout structure, but most use some estimate of how much you contributed to solving a block and pays you out a portion of the block reward based off of how much work you did.

Every pool has its own payout structure, so make sure the one you choose has a payout plan that suits your setup! Downsides of Pools So far pools sound great! The downside of pools relates to what I consider to be one of the most important aspects of blockchain, decentralization. Miners are critical to maintaining proof of work blockchain networks like Bitcoin and Ethereum, and they make up a large percentage of the nodes in the network.

A key element to any decentralized system is that no single entity controls a majority of the network. This kind of scenario is absolutely devastating to an established network like Ethereum; the last Ethereum classic attack reorganized over 7, blocks , which is essentially akin to rearranging history. The big disadvantage of pools is that we are centralizing mining control. This can be very clearly seen as a potential issue with Ethereum's EIP update on track to come with the London hard fork in July.

EIP is meant to reduce transaction fees gas that have been skyrocketing for months; instead of a user sending a gas fee to a miner for the transaction to be added to a block, the gas fee will instead be sent to the network as a basefee that will be burned. This is due to several large pools releasing statements protesting EIP This is an inherent risk with centralizing mining control, it exposes the network to coordinated attacks.

This scenario playing out is highly unlikely as miners would be hurting themselves by attacking their own network. Some pools are better for certain regions of the world, and there are certain pros and cons to choosing a very large pool or a small pool. In general there are a few attributes we want to keep track of when comparing pools: usage fee, payout fee, and minimum payout threshold.

There are a lot of pools out there, so I selected my three favorites to make it easier to pick one. You will see this metric on a lot of pool websites as it factors into the payout structure. Instead Ethermine mines your transactions on their blocks, which reduces block efficiency and overall rewards. Reducing block efficiency lowers the total reward the pool earns per block, but it means no transaction fees when Ethermine pays you. For a small miner this can be advantageous since you can take smaller payouts without paying a large percentage to fees.

Flexpool has garnered a lot of attention from the mining community in a short period for being extremely transparent and bringing more profit to miners. Joining a smaller pool is also very healthy for the network as it promotes decentralization. This means, however, that you have to mine more Ethereum to compensate for gas fees on Flexpool before you are making a higher profit than with Ethermine. In some ways Ethermine lowers the profits of the big players and makes mining more profitable for small players.

If you have a lot of hash power, it would be better to use Flexpool and set your minimum payout to 0. If you are willing to get paid out less often, Flexpool can also make sense for smaller miners. You just have to wait until you accumulate enough Ether to offset the cost of the transaction fees. Sparkpool Sparkpool currently has the highest Hashrate of any Ethereum pool on Earth. High hashrate translates to more consistent payout amounts since the pool is very likely to solve blocks every day.

However joining the largest pools contributes to increasing centrality. Miner Options Photo by Tim Foster on Unsplash So we have picked a pool to mine with, now we just need to choose the right application to actually facilitate the mining. This post will take a look at some of the top Ethereum Mining pools in With so many mining pools at play in the market, solo miners are finding it more difficult to get blocks to process and the Ethereum mining rig that a solo-miner uses, needs to have massive processing power to be able to compete with the pools, which can be very expensive.

If you decide to join a pool, then choosing the right pool that meets your mining expectations is important, as well as understanding the different pay-out methods and how they will impact your earnings. The larger pools, that have been mining for longer, are more reliable and you can be more certain of receiving your profits. To calculate your expected earnings and see the best path to choose, you can use the calculator at this link.

Check out our other post on Ethereum mining calculators. The two share an underlying pool, but have different payment methods. Ethpool is a predicable solo mining pool and pays on the PPS method, a standard pay per share model. Ethermine has more than active workers and processes about 32 blocks an hour, while Ethpool has about active workers and processes about 5 blocks an hour.

See our full post on Ethpool vs Ethermine and the ethpool payout scheme. Payments are also made via the PPS method and on a daily basis.

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Nanopool Nanopool is the third largest Ether mining pool to exist in the world. The hash rate is 13 percent and it is home to as much 40, Ether miners. Dwarfpool This mining pool happens to be one of the most versatile pools out there.

One can use it to mine various cryptocurrencies such as Expanse, Zcash , Monero , Ethereum, etc. The hash rate is 4. F2pool F2pool has been in existence since , and it accounts for 25 percent of all the hash rate. Ethfans Ethfans is another Chinese mining pool. It has a hash rate of 8. As is with f2pool, the Ethfans mining pool also poses the language problem for worldwide users. Do you ever wonder if CPU mining is still profitable in ? To know more, do read our article on the same.

Weipool Weipool stands out from the other Ethereum mining pools because it does not require you to register before mining. However, you do need to have earned at least one Ether to successfully withdraw your profits. MaxHash Fast connectivity, powerful servers across the world, and round the clock monitoring make MaxHash the perfect choice for you if you are starting out with Ethereum mining.

Tips for Choosing a Mining Pool With so many Ethereum mining pools available, you do not want to choose the wrong one since this can lead to a loss of money or just wasted time. While some newer pools can be reputable, you will always feel more confident with a well-established pool that has kept up a positive rating from miners. Some feel that you should also opt for one of the pools that are larger or have a greater hashing power since this increases the chances of profits.

Others point out that with larger pools, you get lower but more reliable payouts, while smaller pools have more irregular but larger payouts. You will have to decide which of these structures is best for you. After all, you want a clean user experience. You should also confirm that your chosen pool has support, a feedback mechanism and transparency, all of which will increase your confidence.

Of course, you should absolutely always confirm that the Ethereum mining pool you select is compatible with the hardware you have, as well as the mining software you prefer to use. Finally, consider the stability of the pool, payout frequency and threshold, and fee structure.

With a clear idea in your head of why you may want to join an Ethereum mining pool and how to pick one, it is time to take a look at the best ones available. Dwarfpool At one point, Dwarfpool was the largest of all Ethereum mining pools, but it has since fallen in popularity.

It has a fee of 1 percent, a standard rate among other pools. This pool makes it possible to mine other currencies in addition to Ethereum if you choose. It also lets you withdraw once your balance hits 1. Ethermine Ethermine is the largest mining pool for Ethereum. It has a service fee of 1 percent and has a minimum payout threshold of 0. Just keep in mind that if you withdraw under 1 ETH, there will be an extra 0.

At the time of writing, there were , active miners and , active workers. The pool has a hash rate of Users appreciate that Ethermine does not require any registration and has secure servers spread throughout the world, including in China, Europe and America.

There are instant payments, and the interface is simple and convenient. The pool also has accurate miner statistics and reporting, including detailed statistics both per workers and globally. Ethermine has an efficient mining engine with a low orphan rate. In terms of rewards, the pool pays all of them, including fees and blocks.

Plus, it offers a professional helpdesk and full stratum support. Ethpool Ethpool is actually very closely related to Ethermine, as they share their underlying pool but use different methods of payment. At the time of writing, Ethpool had a hash rate of 2. It has 1, active miners and 12, active workers.

This mining pool has servers in North America, Asia and Europe. Its mining fee is 1 percent, just like Ethermine. Like Ethermine, Ethpool has full stratum support, detailed statistics for global and per-worker figures, a professional helpdesk and a third-party Android app.

Additionally, it has low uncle rates and pay transaction fees and uncles. It also has warnings set up for invalid shares and supports all Ethereum miners. EthereumPool EthereumPool has a relatively long history of Ethereum mining, having been in operation since It charges a fee of 2 percent and lets you make a withdrawal once daily provided your balance is at least 0. This mining pool stands out for its constant development and history of stability.

The downsides are a higher commission than some other pools and an income that is occasionally lower than that of other pools. Compared to other pools, it is relatively small. At the time of writing, there were only active miners and active workers.

However, it has a rate of It has a commission fee of just 1 percent and lets users withdraw funds once daily, which may soon increase to twice daily. At the time of writing, it had a rate of This project is actually closely connected to EthereumPool; it was founded on the source code from that mining pool. F2pool This is one of the largest mining pools, working for both Ethereum miners and those who mine Bitcoin. The only downside of F2pool is that unless you are from China, you cannot use it.

Even so, it is large enough to earn a spot on the list of best Ethereum mining pools. It is worth considering if you live in Asia, as there are servers throughout the continent for redundancy and security. Just keep in mind that the fees are also very high, charging 3 percent. However, payments are daily, done via the PPS method.

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Ethermine It is the biggest Ethereum mining pool. It operates at a speed of More than The minimum payout threshold is 0. Pros: accurate reporting and miner statistics in the pool; convenient and simple interface; it has secure servers in America, Europe and Australia; does not require registration. Nanopool Service was launched in early , however it is already called one of the largest and fastest ethereum mining pools. The speed is Nanopool has now more than 72 thousand miners.

Pros: you can calculate the profit for a certain period of time; easy setup and user-friendly interface. Cons: has a smaller "ball", unlike other similar services; frequent server lags and lower ping. Tips for Choosing a Mining Pool With so many Ethereum mining pools available, you do not want to choose the wrong one since this can lead to a loss of money or just wasted time. While some newer pools can be reputable, you will always feel more confident with a well-established pool that has kept up a positive rating from miners.

Some feel that you should also opt for one of the pools that are larger or have a greater hashing power since this increases the chances of profits. Others point out that with larger pools, you get lower but more reliable payouts, while smaller pools have more irregular but larger payouts. You will have to decide which of these structures is best for you. After all, you want a clean user experience. You should also confirm that your chosen pool has support, a feedback mechanism and transparency, all of which will increase your confidence.

Of course, you should absolutely always confirm that the Ethereum mining pool you select is compatible with the hardware you have, as well as the mining software you prefer to use. Finally, consider the stability of the pool, payout frequency and threshold, and fee structure.

With a clear idea in your head of why you may want to join an Ethereum mining pool and how to pick one, it is time to take a look at the best ones available. Dwarfpool At one point, Dwarfpool was the largest of all Ethereum mining pools, but it has since fallen in popularity.

It has a fee of 1 percent, a standard rate among other pools. This pool makes it possible to mine other currencies in addition to Ethereum if you choose. It also lets you withdraw once your balance hits 1. Ethermine Ethermine is the largest mining pool for Ethereum. It has a service fee of 1 percent and has a minimum payout threshold of 0. Just keep in mind that if you withdraw under 1 ETH, there will be an extra 0. At the time of writing, there were , active miners and , active workers.

The pool has a hash rate of Users appreciate that Ethermine does not require any registration and has secure servers spread throughout the world, including in China, Europe and America. There are instant payments, and the interface is simple and convenient. The pool also has accurate miner statistics and reporting, including detailed statistics both per workers and globally.

Ethermine has an efficient mining engine with a low orphan rate. In terms of rewards, the pool pays all of them, including fees and blocks. Plus, it offers a professional helpdesk and full stratum support. Ethpool Ethpool is actually very closely related to Ethermine, as they share their underlying pool but use different methods of payment.

At the time of writing, Ethpool had a hash rate of 2. It has 1, active miners and 12, active workers. This mining pool has servers in North America, Asia and Europe. Its mining fee is 1 percent, just like Ethermine. Like Ethermine, Ethpool has full stratum support, detailed statistics for global and per-worker figures, a professional helpdesk and a third-party Android app.

Additionally, it has low uncle rates and pay transaction fees and uncles. It also has warnings set up for invalid shares and supports all Ethereum miners. EthereumPool EthereumPool has a relatively long history of Ethereum mining, having been in operation since It charges a fee of 2 percent and lets you make a withdrawal once daily provided your balance is at least 0.

This mining pool stands out for its constant development and history of stability. The downsides are a higher commission than some other pools and an income that is occasionally lower than that of other pools. Compared to other pools, it is relatively small. At the time of writing, there were only active miners and active workers. However, it has a rate of It has a commission fee of just 1 percent and lets users withdraw funds once daily, which may soon increase to twice daily.

At the time of writing, it had a rate of This project is actually closely connected to EthereumPool; it was founded on the source code from that mining pool. F2pool This is one of the largest mining pools, working for both Ethereum miners and those who mine Bitcoin. The only downside of F2pool is that unless you are from China, you cannot use it.

Even so, it is large enough to earn a spot on the list of best Ethereum mining pools. It is worth considering if you live in Asia, as there are servers throughout the continent for redundancy and security. Just keep in mind that the fees are also very high, charging 3 percent. However, payments are daily, done via the PPS method.