Btc china pool
BTC China has announced that its fresh mining pool, which launched just five weeks ago and is exclusively Chinese, has already generated overheen $1.2m te bitcoin.
The company said that spil of 28th November, the pool had mined Trio,325 BTC, or $1,226,758.75 according to the CoinDesk USD Bitcoin Price Index at the time of writing.
Blockchain’s Hashrate Distribution Chart ranks the BTC China pool 7th-largest overall, contributing around 13.9 PH/s, or 5% of the world’s bitcoin hashing power.
An estimation of hashrate distribution amongst the largest mining pools. Source: Blockchain
The rigid says it “promises 100% transparency ter its hashrate distribution, with no hidden hashrate reductions”. There are also plans to add litecoin mining operations soon.
A spokesperson said the rapid growth could be attributed to BTC China’s 0% fees on its pay-per-share (PPS) mining monster.
Forming the pool wasgoed part of the company’s project to permit users to stay within BTC China’s ecosystem for all aspects of their digital currency practice, from mining through to trading, transacting, shopping and storage.
“BTC China dreamed to provide our users with a one-stop digital currency service, to permit our users to engage te all aspects of the digital currency spectrum, te one integrated toneel.”
All members of BTC China’s mining pool are located te China itself, most likely largely because the webpagina is presently available ter Chinese only. The company does have plans to launch an English version te the near future.
Broader range of services
The mining pool is part of BTC China’s transition from a ordinary bitcoin exchange to a multi-service cryptocurrency company. Te the past few months it has created and launched a margin trading service, the Mobile Exchange mobile web app and a payment gateway called JustPay.
JustPay acquired overheen 300 fresh users ter its beta-testing phase and the company has already signed up five Chinese businesses to accept bitcoin using the service.
Those businesses are Shenzhoufu Hong Kong, a leading online gaming transaction podium ter China with 700 spel operators, Aicaike, a financial management toneelpodium, DandanChina, an e-commerce webpagina specializing te imported products, Jingubang (JGB), a cross-border e-commerce webpagina focusing on shopping and shipping for Chinese customers, and BTCKan, a provider of bitcoin quotes, news and mining.
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Mining pools serve a crucial yet relatively mundane role ter the mining process by providing a focal point for hashing power and enabling small-scale miners to collaborate with others bitcoin transaction replacement. If bitcoin mining is a competitive sport that pits miners against each other to detect fresh blocks and generate more bitcoins,then mining pools are the teams on which they play.
Still,despite this importance,mining pools have not bot the most translucent sector of the crypto economy.
A epistel look at a bitcoin mining network hash rate distribution shows three clear winners te the wedren to detect blocks. Joining the ranks of GHash.io,possessed by exchange technicus CEX.io,and a still-yet-unknown source of hashing power,China-based Discus Fish has emerged spil a powerful force te the network that,to some,has bot too opaque ter its operation despite its size.
The pool,based ter China,presently constitutes toughly 25% of the bitcoin network,and on average is the largest source of hashing power today.
This level of influence has raised concerns about a potential 51% attack,fears similar to those that ultimately compelled GHash.io to take measures to reduce its hash rate.
Violating the muffle
CoinDesk recently spoke with Wang Chun,the pool’s co-owner and chief administrator. He described Discus Fish spil a venture inbetween two Chinese technology enthusiasts that has,overheen the course of its history,addressed some of the frictions te the country’s mining community.
Wang told CoinDesk that he and his business playmate,digital currency entrepreneur Mao Shihang,were early adopters of the technology,but that despite early growth,mining remained a key powerless point. Prior to the pool’s creation,he said,China didn’t have a locally dedicated pool.
“We both have bot active ter the Chinese bitcoin community since 2011. BTC China,a bitcoin exchange,wasgoed established ter July 2011. But China did not have a mining pool for a long time. The founder of fxbtc.com (now closed) attempted to create one of the earliest China-based pool ter 2012 but ended ter financial failure.”
Discus Fish opened its doors on 5th May,2015,and ter addition to its bitcoin mining power,also makes up toughly 30% of the litecoin network. Today,it sports on average 7, 500 active users out of a total 100, 000 registered.
According to the pool’s estimates,Discus Fish services half of China’s mining community with more than 100, 000 stratum connections worldwide.
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Bitcoin mining pools are a way for Bitcoin miners to pool their resources together and share their hashing power while splitting the prize identically according to the amount of shares they contributed to solving a block.
A “share” is awarded to members of the Bitcoin mining pool who present a valid proof of work that their Bitcoin miner solved. Bitcoin mining te pools began when the difficulty for mining enlargened to the point where it could take years for slower miners to generate a block.
The solution to this problem wasgoed for miners to pool their resources so they could generate blocks quicker and therefore receive a portion of the Bitcoin block prize on a consistent fundament, rather than randomly once every few years.
If you solo-mine, meaning you do not mine with a Bitcoin mining pool, then you will need to ensure that you are te overeenstemming with the Bitcoin network. The best way is to use the official BitCore client.
If you participate ter a Bitcoin mining pool then you will want to ensure that they are engaging te behavior that is ter agreement with your philosophy towards Bitcoin.
For example, some rogue developers have threatened to release software that could hard-fork the network which would likely result ter tremendous financial harm.
Therefore, it is your duty to make sure that any Bitcoin mining power you rechtstreeks to a mining pool does not attempt to enforce network overeenstemming rules you disagree with.
When segwit is activated, you will want to be able to mine and relay segwit-style blocks. The following mining software has bot upgraded to support segwit.
Please note that software that supports the GetBlockTemplate (GBT) RPC vereiste be upgraded to support the BIP9 and BIP145 switches to GBT. All the programs linked above that support GBT have bot upgraded.
Segwit is already activated and enforced on testnet, so you may find it useful to test your infrastructure upgrade by mining with some puny amount of hashrate on testnet. Alternatively, Bitcoin Core 0.13.1’s regression test mode (regtest) also supports segwit by default.
Bitcoin Mining Pools
There are many good Bitcoin mining pools to choose from. Albeit it’s tempting to pick the most popular one, it’s better for the health of the network to mine with smaller pools so spil to avoid potentially harmful concentration of hashing power.
The hash rate distribution is best when split among more Bitcoin mining pools.
Bitcoin Mining Pool Hash Rate Distribution
Bitcoin Mining Pool Options
For a fully decentralized pool, wij very recommend p2pool.
The following pools are believed to be presently fully validating blocks with Bitcoin Core 0.11 or zometeen:
BTCC: BTCC is a Bitcoin exchange, wallet, and mining pool located te China. Its mining pool presently controls around 15% of the network hash rate.
Slush Pool: Slush Pool is run by Satoshi Labs, a Bitcoin company based ter the Czech Republic. Slush Pool wasgoed the very first mining pool and maintains around 7% of the network hash rate.
Antpool: [WARNING] – Bitmain operates Antpool and some consider them to be a malicious actor ter the Bitcoin ecosystem because of the AntBleed scandal where they were intentionally including malware within mining equipment they sell. Ter a corporate communication, Bitmain claimed this wasgoed a feature and not a bug. This malware would enable Bitmain to remotely shut down equipment of customers or competitors thus enlargening their own profitability. Additionally, such behavior could pose a risk to the entire Bitcoin network.
Eligius: Eligius wasgoed one of the very first Bitcoin mining pools and wasgoed founded by Luke Dashjr, a Bitcoin Core developer. Today, the pool controls just under 1% of the network hash rate.
BitMinter: BitMinter, once one of the largest Bitcoin mining pools, now controls less than 1% of the network hash rate.
Kano CKPool: Kano CKPool wasgoed founded ter 2014 and presently has around 3% of the network hash rate under its control.
F2Pool: F2Pool is the 2nd largest Bitcoin mining pool, with around 25% of the network hash rate. Its user interface is ter Chinese, making it difficult for English speakers to join.
BW Pool: BW Pool controls around 7% of the network hash rate. Like F2Pool, its user interface is te Chinese, making it difficult for English speakers to join.
Bitfury: Albeit seen publically te block explorers and hash rate charts, BitFury is a private mining pool and cannot be joined.
Bitcoin Mining Pool Payment Methods
Calculating your share of the bitcoins mined can be sophisticated. Ter an ongoing effort to come up with the fairest method and prevent gaming of the system, many calculation schemes have bot invented. The two most popular types are PPS and DGM. PPS, or ‘pay vanaf share’ shifts the risk to the mining pool while they assure payment for every share you contribute.
PPS payment schemes require a very large reserve of Ten,000 BTC te order to ensure they have the means of suffering a streak of bad luck. For this reason, most Bitcoin mining pools no longer support it.
One of the few remaining PPS pools is EclipseMC. DGM is a popular payment scheme because it offers a nice balance inbetween brief round and long round blocks. However, end users vereiste wait for total round confirmations long after the blocks are processed.
PPS: The Pay-per-Share (PPS) treatment offers an instant, assured payout for each share that is solved by a miner. Miners are paid out from the pools existing balance and can withdraw their payout instantaneously. This prototype permits for the least possible variance ter payment for miners while also transferring much of the risk to the pool’s technicus.
PROP: The Proportional treatment offers a proportional distribution of the prize when a block is found amongst all workers, based off of the number of shares they have each found.
PPLNS: The Pay Vanaf Last N Shares (PPLN) treatment is similar to the proportional method, but instead of counting the number of shares ter the round, it instead looks at the last N shares, no matter the boundaries of the round.
DGM: The Dual Geometric Method (DGM) is a hybrid treatment that enables the technicus to absorb some of the risk. The technicus receives a portion of payouts during brief rounds and comes back it during longer rounds to normalize payments.
SMPPS: The Collective Maximum Pay Vanaf Share (SMPPS) uses a similar treatment to PPS but never pays more than the Bitcoin mining pool has earned.
ESMPPS: The Equalized Collective Maximum Pay Vanaf Share (ESMPPS) is similar to SMPPS, but distributes payments identically among all miners te the Bitcoin mining pool.
RSMPPS: The Latest Collective Maximum Pay Vanaf Share (RSMPPS) is also similar to SMPPS, but the system prioritizes the most latest Bitcoin miners very first.
CPPSRB: The Capped Pay Vanaf Share with Latest Backpay uses a Maximum Pay Vanaf Share (MPPS) prize system that will pay Bitcoin miners spil much spil possible using the income from finding blocks, but will never go bankrupt.
BPM: Bitcoin Pooled mining (BPM), also known spil “Slush’s pool”, uses a system where older shares from the beginning of a block round are given less weight than more latest shares. This reduces the capability to cheat the mining pool system by switching pools during a round.
POT: The Pay on Target (POT) treatment is a high variance PPS that pays out te accordance with the difficulty of work returned to the pool by a miner, rather than the difficulty of work done by the pool itself.
SCORE: The SCORE based treatment uses a system whereby a proportional prize is distributed and weighed by the time the work wasgoed submitted. This process makes straks shares worth more than earlier shares and scored by time, thus prizes are calculated ter proportion to the scores and not shares submitted.
ELIGIUS: Eligius wasgoed designed by Luke Jr., creator of BFGMiner, to incorporate the strengths of PPS and BPM pools, spil miners submit proofs-of-work to earn shares and the pool pays out instantaneously. When the block prizes are distributed, they are divided identically among all shares since the last valid block and the shares contributed to stale blocks are cycled into the next block’s shares. Prizes are only paid out if a miner earns at least. 67108864 and if the amount owed is less than that it will be spinned overheen to the next block until the limit is achieved. However, if a Bitcoin miner does not submit a share for overheen a period of a week, then the pool will send any remaining balance, regardless of its size.
Triplemining: Triplemining brings together medium-sized pools with no fees and redistributes 1% of every block found, which permits your share to grow quicker than any other Bitcoin mining pool treatment. The administrators of thesis Bitcoin mining pools use some of the Bitcoins generated when a block is found to add to a jackpot that is triggered and paid out to the member of the pool who found the block. Te this way, everyone te the pool has a better chance to make extra Bitcoins, regardless of their processing power.
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Ethereum (ETH) pool, posted Mar Eighteen, 2016 at 04:01 (UTC)
(Two) Ethminer fork
(Three) Qtminer (by etherchain)
Developer toverfee is 1% for Ethereum-only mining mode and 2% for dual mining mode. Every hour the miner mines for 36 or 72 seconds for developer.
You can use ethman software to manage several equipments.
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MPOS by TheSerapher, available on GitHub