Review on Bitcoin Mining Pool by Pasha Syahbani
good for a beginner
Bitcoin miners are a group of “miners” who are indulged in solving a block for earning bounty/reward. The reward is equally split among themselves according to their contributed mining hash power. Bitcoin pool is a way to mine their resources and to share their hashing power.
A valid proof of work should be presented in order to gain reward. Initially, generating a single block was taking years for slower miners and then Bitcoin mining pool came into existence, where the miners would receive a portion of block reward and the blocks would be generated quickly. There are various Bitcoin mining pools and choosing the most popular one is quite enticing. It is preferred to choose a small Bitcoin pool to avoid potentially harmful concentration of hashing power
Pros
- profit for long time
Cons
- small profit
