<s>
In	O
the	O
context	O
of	O
cryptocurrency	O
mining	O
,	O
a	O
mining	B-Protocol
pool	I-Protocol
is	O
the	O
pooling	O
of	O
resources	O
by	O
miners	O
,	O
who	O
share	O
their	O
processing	O
power	O
over	O
a	O
network	O
,	O
to	O
split	O
the	O
reward	O
equally	O
,	O
according	O
to	O
the	O
amount	O
of	O
work	O
they	O
contributed	O
to	O
the	O
probability	O
of	O
finding	O
a	O
block	B-Application
.	O
</s>
<s>
A	O
"	O
share	O
"	O
is	O
awarded	O
to	O
members	O
of	O
the	O
mining	B-Protocol
pool	I-Protocol
who	O
present	O
a	O
valid	O
partial	O
proof-of-work	O
.	O
</s>
<s>
Mining	O
in	O
pools	O
began	O
when	O
the	O
difficulty	O
for	O
mining	O
increased	O
to	O
the	O
point	O
where	O
it	O
could	O
take	O
centuries	O
for	O
slower	O
miners	O
to	O
generate	O
a	O
block	B-Application
.	O
</s>
<s>
The	O
solution	O
to	O
this	O
problem	O
was	O
for	O
miners	O
to	O
pool	O
their	O
resources	O
so	O
they	O
could	O
generate	O
blocks	O
more	O
quickly	O
and	O
therefore	O
receive	O
a	O
portion	O
of	O
the	O
block	B-Application
reward	O
on	O
a	O
consistent	O
basis	O
,	O
rather	O
than	O
randomly	O
once	O
every	O
few	O
years	O
.	O
</s>
<s>
November	O
2010	O
:	O
Slush	O
launched	O
in	O
2010	O
and	O
is	O
the	O
first	O
mining	B-Protocol
pool	I-Protocol
.	O
</s>
<s>
2014	O
–	O
2015	O
:	O
F2Pool	O
,	O
which	O
launched	O
in	O
May	O
2013	O
,	O
overtook	O
GHash.IO	O
and	O
became	O
then	O
the	O
largest	O
mining	B-Protocol
pool	I-Protocol
.	O
</s>
<s>
2020	O
:	O
Binance	O
launches	O
a	O
mining	B-Protocol
pool	I-Protocol
,	O
following	O
Huobi	O
and	O
OKex	O
.	O
</s>
<s>
Luxor	B-Language
launches	O
a	O
US-based	O
mining	B-Protocol
pool	I-Protocol
.	O
</s>
<s>
2022	O
:	O
launches	O
the	O
first	O
eco	O
friendly	O
focused	O
mining	B-Protocol
pool	I-Protocol
.	O
</s>
<s>
Share	O
is	O
the	O
principal	O
concept	O
of	O
the	O
mining	B-Protocol
pool	I-Protocol
operation	O
.	O
</s>
<s>
Share	O
is	O
a	O
potential	O
block	B-Application
solution	O
.	O
</s>
<s>
So	O
it	O
may	O
be	O
a	O
block	B-Application
solution	O
,	O
but	O
it	O
is	O
not	O
necessarily	O
so	O
.	O
</s>
<s>
For	O
example	O
,	O
suppose	O
a	O
block	B-Application
solution	O
is	O
a	O
number	O
that	O
ends	O
with	O
10	O
zeros	O
and	O
,	O
a	O
share	O
may	O
be	O
a	O
number	O
with	O
5	O
zeros	O
at	O
the	O
end	O
.	O
</s>
<s>
Sooner	O
or	O
later	O
one	O
of	O
the	O
shares	O
will	O
have	O
not	O
only	O
5	O
,	O
but	O
10	O
zeros	O
at	O
the	O
end	O
,	O
and	O
this	O
will	O
be	O
the	O
block	B-Application
solution	O
.	O
</s>
<s>
Mining	B-Protocol
pools	I-Protocol
need	O
shares	O
to	O
estimate	O
the	O
miner	O
's	O
contribution	O
to	O
the	O
work	O
performed	O
by	O
the	O
pool	O
to	O
find	O
a	O
block	B-Application
.	O
</s>
<s>
Mining	B-Protocol
pools	I-Protocol
may	O
contain	O
hundreds	O
or	O
thousands	O
of	O
miners	O
using	O
specialized	O
protocols	O
.	O
</s>
<s>
In	O
all	O
these	O
schemes	O
stands	O
for	O
a	O
block	B-Application
reward	O
minus	O
pool	O
fee	O
and	O
is	O
a	O
probability	O
of	O
finding	O
a	O
block	B-Application
in	O
a	O
share	O
attempt	O
(	O
,	O
where	O
is	O
current	O
block	B-Application
difficulty	O
)	O
.	O
</s>
<s>
The	O
Pay-per-Share	O
(	O
PPS	O
)	O
approach	O
offers	O
an	O
instant	O
,	O
guaranteed	O
payout	O
to	O
a	O
miner	O
for	O
their	O
contribution	O
to	O
the	O
probability	O
that	O
the	O
pool	O
finds	O
a	O
block	B-Application
.	O
</s>
<s>
Miners	O
earn	O
shares	O
until	O
the	O
pool	O
finds	O
a	O
block	B-Application
(	O
the	O
end	O
of	O
the	O
mining	O
round	O
)	O
.	O
</s>
<s>
Pooled	O
mining	O
(	O
BPM	O
)	O
,	O
also	O
known	O
as	O
"	O
slush	O
's	O
system	O
"	O
,	O
due	O
to	O
its	O
first	O
use	O
on	O
a	O
pool	O
called	O
"	O
slush	O
's	O
pool	O
 '	O
,	O
uses	O
a	O
system	O
where	O
older	O
shares	O
from	O
the	O
beginning	O
of	O
a	O
block	B-Application
round	O
are	O
given	O
less	O
weight	O
than	O
more	O
recent	O
shares	O
.	O
</s>
<s>
A	O
new	O
round	O
starts	O
the	O
moment	O
the	O
pool	O
solves	O
a	O
block	B-Application
and	O
miners	O
are	O
rewarded	O
Proportional	O
to	O
the	O
shares	O
submitted	O
.	O
</s>
<s>
This	O
reduces	O
the	O
ability	O
to	O
cheat	O
the	O
mining	B-Protocol
pool	I-Protocol
system	O
by	O
switching	O
pools	O
during	O
a	O
round	O
,	O
to	O
maximize	O
profit	O
.	O
</s>
<s>
It	O
means	O
that	O
when	O
a	O
block	B-Application
is	O
found	O
,	O
the	O
reward	O
of	O
each	O
miner	O
is	O
calculated	O
based	O
on	O
the	O
miner	O
contribution	O
to	O
the	O
last	O
N	O
pool	O
shares	O
.	O
</s>
<s>
Solo	O
pools	O
operate	O
the	O
same	O
way	O
as	O
usual	O
pools	O
,	O
with	O
the	O
only	O
difference	O
being	O
that	O
block	B-Application
reward	O
is	O
not	O
distributed	O
among	O
all	O
miners	O
.	O
</s>
<s>
The	O
entire	O
reward	O
in	O
a	O
solo	O
pool	O
goes	O
to	O
the	O
miner	O
who	O
finds	O
the	O
block	B-Application
.	O
</s>
<s>
Peer-to-peer	O
mining	B-Protocol
pool	I-Protocol
(	O
P2Pool	O
)	O
decentralizes	O
the	O
responsibilities	O
of	O
a	O
pool	O
server	O
,	O
removing	O
the	O
chance	O
of	O
the	O
pool	O
operator	O
cheating	O
or	O
the	O
server	O
being	O
a	O
single	B-Architecture
point	I-Architecture
of	I-Architecture
failure	I-Architecture
.	O
</s>
<s>
Miners	O
work	O
on	O
a	O
side	O
blockchain	B-Application
called	O
a	O
share	O
chain	O
,	O
mining	O
at	O
a	O
lower	O
difficulty	O
at	O
a	O
rate	O
of	O
one	O
share	O
block	B-Application
per	O
30	O
seconds	O
.	O
</s>
<s>
Once	O
a	O
share	O
block	B-Application
reaches	O
the	O
network	O
target	O
,	O
it	O
is	O
transmitted	O
and	O
merged	O
onto	O
the	O
blockchain	B-Application
.	O
</s>
<s>
Miners	O
are	O
rewarded	O
when	O
this	O
occurs	O
proportional	O
to	O
the	O
shares	O
submitted	O
prior	O
to	O
the	O
target	O
block	B-Application
.	O
</s>
<s>
If	O
the	O
share	O
is	O
a	O
valid	O
block	B-Application
,	O
end	O
the	O
round	O
.	O
</s>
<s>
When	O
worker	O
submits	O
a	O
share	O
,	O
set	O
(	O
where	O
is	O
the	O
block	B-Application
reward	O
at	O
the	O
time	O
it	O
was	O
submitted	O
)	O
,	O
and	O
then	O
.	O
</s>
<s>
If	O
the	O
share	O
is	O
a	O
valid	O
block	B-Application
,	O
then	O
also	O
do	O
the	O
following	O
for	O
each	O
worker	O
:	O
Give	O
him	O
a	O
payout	O
of	O
,	O
and	O
then	O
set	O
.	O
</s>
<s>
Transaction	O
fees	O
are	O
paid	O
to	O
the	O
miner	O
(	O
mining	B-Protocol
pool	I-Protocol
)	O
.	O
</s>
<s>
Different	O
mining	B-Protocol
pools	I-Protocol
could	O
share	O
these	O
fees	O
between	O
their	O
miners	O
or	O
not	O
.	O
</s>
<s>
Pay-per-last-N-shares	O
(	O
PPLNS	O
)	O
,	O
Pay-Per-Share	O
Plus	O
(	O
PPS+	O
)	O
or	O
Full	O
Pay-Per-Share	O
(	O
FPPS	O
)	O
are	O
the	O
most	O
fair	O
methods	O
where	O
the	O
payouts	O
from	O
the	O
pool	O
include	O
not	O
only	O
the	O
block	B-Application
subsidy	O
but	O
also	O
the	O
transaction	O
fees	O
.	O
</s>
<s>
Two	O
key	O
factors	O
are	O
involved	O
in	O
the	O
algorithm	O
that	O
calculates	O
profitability	O
,	O
the	O
block	B-Application
time	O
,	O
and	O
the	O
price	O
on	O
the	O
exchanges	O
.	O
</s>
<s>
To	O
avoid	O
the	O
need	O
for	O
many	O
different	O
wallets	O
for	O
all	O
possible	O
minable	O
coins	O
,	O
multipools	O
may	O
automatically	O
exchange	O
the	O
mined	O
coin	O
to	O
a	O
coin	O
that	O
is	O
accepted	O
in	O
the	O
mainstream	O
(	O
for	O
example	O
bitcoin	B-Protocol
)	O
.	O
</s>
<s>
Some	O
companies	O
that	O
sell	B-Protocol
hash	I-Protocol
power	I-Protocol
may	O
do	O
so	O
by	O
aggregating	O
the	O
work	O
of	O
many	O
small	O
miners	O
(	O
for	O
example	O
,	O
NiceHash	B-Application
)	O
,	O
paying	O
them	O
proportionally	O
by	O
share	O
like	O
a	O
pool	O
would	O
.	O
</s>
<s>
Similar	O
to	O
other	O
mining	O
technologies	O
,	O
the	O
PoC	O
,	O
PoC+	O
,	O
PoS	O
Proof	B-Protocol
of	I-Protocol
Space	I-Protocol
method	O
allows	O
the	O
computing	O
to	O
be	O
performed	O
beforehand	O
and	O
all	O
answers	O
are	O
stored	O
on	O
a	O
miners	O
hard	O
drive	O
,	O
the	O
heavy	O
energy	O
consumption	O
for	O
PoC	O
is	O
not	O
required	O
like	O
it	O
is	O
for	O
PoW	O
mining	O
and	O
therefore	O
PoC	O
is	O
almost	O
always	O
a	O
more	O
environmentally	O
friendly	O
blockchain	B-Application
choice	O
.	O
</s>
<s>
The	O
first	O
PoC	O
blockchain	B-Application
was	O
brought	O
online	O
in	O
2014	O
and	O
is	O
known	O
as	O
today	O
,	O
with	O
other	O
PoC	O
chains	O
coming	O
out	O
much	O
later	O
,	O
examples	O
:	O
Chia	O
,	O
Flax	O
,	O
and	O
BitcoinHD	O
.	O
</s>
<s>
The	O
network	O
difficulty	O
,	O
as	O
well	O
as	O
other	O
network	O
and	O
mining	O
status	O
information	O
,	O
can	O
be	O
viewed	O
on	O
any	O
of	O
the	O
public	O
mining	B-Protocol
pool	I-Protocol
dashboards	O
,	O
example	O
:	O
A	O
list	O
of	O
current	O
PoC	O
,	O
PoS	O
,	O
PoC+	O
type	O
mining	B-Protocol
pools	I-Protocol
are	O
also	O
tracked	O
by	O
some	O
third	O
party	O
"	O
Mining	B-Protocol
Pool	I-Protocol
Stats	O
"	O
pages	O
,	O
an	O
example	O
of	O
one	O
is	O
.	O
</s>
