Mining pools are the platform where many miners come together closely to mine Ethereum. So whenever you join a pool, you tend to lower the volatility of the payouts by providing frequent payments instead of a lump sum only when the block is resolved. To reduce the variance, the mining pools combine the hash power of several miners. Ethereum mining is similar to that to Bitcoin where the miners use their systems to guess answers to the puzzle quickly and repeatedly for every transaction block until one gets the correct answer.
Specifically, the Ethereum miners run the unique header metadata for a block by a hash function while changing the nonce value. The miners who find hashes matching the target receive Ether and then broadcast this block across the network. Each node then validates the block and adds it to its copy of the blockchain ledger.
ETHpool is one of the best web-based Ethereum mining pools which comes with DDoS protection and has a global mining network. Ethpool servers are located in major regions around Europe, the US, and Asia, and supports miners like eth-proxy, ethminer, cudaminer and qtMiner. Ethpool has a very unique payout scheme and it comes with an efficient mining engine. Along with the low rates, the mining pool takes care of the transaction fee, so it's basically an Ethereum mining pool free of cost. It even offers a third-party Android Application which provides you with details regarding your account and also monitors the Ethereum mining pool stats, hence one of the best Ethereum mining pools 2020.
Ethermine is like the twin brother of Ethpool, which is almost similar, with a few difference in features. Ethermine offers PPLNS payout scheme, that too instantly. It lets you fix a customizable minimum payment threshold like 0.05 is the minimum, 1 Ether is the standard and 10 Ether is the maximum. Ethermine helps you with an accurate reporting on hash rate on a daily basis and Ethermine also takes care of the transaction costs and the block where you don’t have to worry about it. It has DDoS protected servers located in places like Singapore, Paris, US (East) and the US (West).It has an IOS and Android smartphone app as well to keep you updated with the accounts stats, and one of the fastest ethereum miners.
Dwarfpool is not just available for mining Ethereum, but other cryptocurrencies as well like Monero, Zcash, EXPANSE, and GroestlCoin. Dwarfpool is an optimized stratum pool engine available online (Ethereum mining online) and has the most profitable Round Based Payment System (RBPS). It offers a fairly transparent mining statistic related to the mining account, which can be monitored via email. It also has an auto-payment feature, which sends the miners their payment once an hour. DwarfPool has powerful servers located across the globe and there are no transactions or hidden fees. IT provides support in English and Dutch languages.
NanoPool is one of the most popular web-based Ethereum mining pool. Along with Ethereum, you can even mine other cryptocurrencies like Zcash, Siacoin, Monero, Pascal and many others. NanoPool offers a low transaction and uncle fee and is based out of China. In order to start mining with NanoPool, you need to install Claymore Dualminer and extract the file in a folder after which you need to configure and execute the start.bat file.
Mining Pool Hub was started by a dedicated group of Ethereum enthusiasts and now it has grown to be the second-largest global pool. The charges are calculated based on rewards of the block finding fee, bonuses, transaction fee, and some added incentives, too. Mining Pool Hub has servers available in Asia, North America and Europe, with a mining fee of 0.9% (Ethereum mining pool calculator). The servers are redundant irrespective of the locations, so no need to worry about backups.
You can choose any of the above-mentioned pools, as per your feasibility.
Although mining is a risky process, miners still continue to get rewards.
The average tie is around 12 seconds to mine Ethereum.
You will need to have an ETH wallet and a mining pool to get started with Ethereum mining.
You can refer here to find the top Ethereum miner.
You can click here to find the best GPU for mining Ethereum.
This value might vary, and is based on the Ethereum cost.
There is still a high investment required for cloud mining, hence nothing can be said.
It differs on a daily basis, based on the cost and mining capacity.
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2020-01-08 17:14:06.802903 | 2 min