The Pay-per-Share (PPS) approach, first described by BitPenny, is to offer an instant flat payout for each share that is solved. Older shares (from beginning of the round) have lower weight than more recent shares, which reduces the motivation to cheat by switching between pools within a round. Currently there are several different approaches used.īitcoin Pooled Mining (BPM), sometimes referred to as "slush's pool", follows a score-based method. The problem with pooled mining is that steps must be taken to prevent cheating by the clients and the server. This way, instead of waiting for years to generate 50btc in a block, a smaller miner may get a fraction of a Bitcoin on a more regular basis.Ī share is awarded by the mining pool to the clients who present a valid proof-of-work of the same type as the proof of work that is used for creating blocks, but of lesser difficulty, so that it requires less time on average to generate. With a mining pool, a lot of different people contribute to generating a block, and the reward is then split among them according to their processing contribution. To provide a more smooth incentive to lower-performance miners, several pooled miners, using different approaches, have been created. For example, with a mining speed of 1000 Khps, at a difficulty of 14484 (which was in effect at the end of December, 2010), the average time to generate a block is almost 2 years. With increasing generation difficulty, mining with lower-performance devices can take a very long time before block generation, on average. Miners can, however, choose to redirect their hashing power to a different mining pool at anytime. While Bitcoin mining pools are desirable to the average miner as they smooth out rewards and make them more predictable, they unfortunately concentrate power to the mining pool’s owner. Mining pools are groups of cooperating miners who agree to share block rewards in proportion to their contributed mining hash power.
0 kommentar(er)
