Pool operation activities

1.

After the computing power of the whole network has been improved to a certain extent, the probability of getting rewards is too low, so that some geeks on "bitcoin talk" can develop a method that can combine a small amount of computing power and operate jointly, and use this method to build websites

in this mechanism, no matter how much computing power an indivial miner can use, as long as he participates in mining activities by joining the mine pool, no matter whether he has successfully mined effective data blocks, he can get a small amount of bitcoin reward through his contribution to the mine pool, that is to say, many people cooperate in mining, and the bitcoin reward is shared by many people according to their contribution

as of January 2019, the top five bitcoin pools in global computing power are btc.com, pool, antpool, flush pool, and f2pool. At present, about 70% of global computing power is in the hands of Chinese miners

extended data:

handling charge:

bitcoin miners will charge a small amount of fees for most transactions, the main purpose of which is to prevent people from sending a large number of boring small transactions and wasting network resources. At present, most of the handling charges for each transaction are & T 3647; 0.0001/kb (0.0001btc / KB). In fact, after 0.9.0, the default handling charge will be reced to & 3647; 0.00001/KB(0.00001 btc/KB)

because the amount of data occupied by most transactions is less than 1 kilobyte, generally speaking, the amount of data is less than 3647; 0.00001 (0.00001 BTC / KB) is enough. At the same time, in the future, when the bitcoin block rewards are less, the service charge will become the main source of miners' income, and the service charge of bitcoin will be related to the number of bytes occupied by the transaction

at present, the calculation standard of service charge in bitcoin system is not mandatory, so users can not give any service charge when the transaction is in progress

however, most miners usually give priority to the transaction with higher handling charges when building data blocks, so that they can get higher remuneration when mining is successful. Therefore, the transaction without any handling charges may take a long time to be processed and incorporated into the blockchain

in addition, e to the block capacity limit of 1MB and the recent increase in bitcoin transaction volume, the handling charges have increased significantly, and the waiting time for the transaction to be confirmed has also become much longer

2. The proction of virtual currency needs a professional team, but if you make a direct currency, there is no wallet, there is no maintenance, and it's just a pure number, it's much simpler, the cost is very low, and a trading platform is thousands of yuan. However, there are serious loopholes in this platform and it is easy to be attacked
if you want to create a virtual currency like bitcoin, Ruitai coin and Qianjin card, you need to make some efforts. First of all, these coins need card method and a downloadable wallet. The application scenarios of this kind of currency have been determined. At the same time, you need to create a secure and reliable trading platform.

3.

Mining is perhaps one of the most important components of the bitcoin ecosystem. Miners need to solve complex mathematical problems, so as to ensure the smooth implementation of the transaction. These problems are so complex that they are difficult to solve even for extremely powerful computers. Computers need work and luck to solve these mathematical problems, just as miners dig underground. The chance of solving this problem correctly is about one in 13 trillion

bitcoin mining has two purposes. Firstly, by solving mathematical problems, bitcoin miners can verify the transaction information, so as to ensure the security and reliability of bitcoin payment network. Miners are the people who ensure that transactions are accurate and that there is no "double payment."

Secondly, when the computer solves these complex mathematical problems on the bitcoin network, the system will generate new bitcoin, which is similar to the process of mining gold from the ground. The reward is called "block reward", and after the event called "halving", its amount will be periodically halved. The newly discovered concept of bitcoin is an important part of bitcoin protocol. The bitcoin obtained by the miners is brand new and has never been in circulation before

since miners will eventually sell the bitcoin, it is also an important source of supply and liquidity. As chainalysis reports, many digital currency exchanges rely on miners to receive bitcoin and increase their liquidity. Typically, exchanges get about 88% of bitcoin from other exchanges, and bitcoin miners are the largest source of the remaining percentage. As you can imagine, there is fierce competition between exchanges to receive bitcoin directly from miners

further enlarge the map, most of the mining activities are only carried out in four provinces, the first two provinces are Xinjiang and Sichuan, accounting for nearly half of all bitcoin mining in China. Electricity prices are cheap and the weather is cold in these areas. This helps to keep mining profits and equipment cool ring the 24 / 7 operation and maintenance period of bitcoin mining

but this is nothing new for digital currency issuance. For many years, China has been a major market for bitcoin miners e to its cheap electricity and abundant resources. Bitmain, f2pool and Canaan are all located in China

whether this is a negative or positive message depends on your point of view. But for decentralized, distributed, unlicensed networks, geographic regions across multiple entities are more healthy for the entire ecosystem

4. The main reason is that the distribution mode of bitcoin is different: according to the operation mode, the common bitcoin pools are as follows: PPLNs, PPS, DGM, P2P ool, etc.

PPLNs: (the purest Group Mining) full name is pay per last n shares, which means "pay income according to the past n shares", which means that once all miners find a block, You will allocate the currency in the block according to the proportion of each person's own shares Share means share)

in PPLNs mode, luck is very important. If the mine pool can find many blocks in a day, then everyone's dividend will be very large. If the mine pool can't find any blocks in a day, then everyone will have no income

PPS: pay per share mode --- this mode is to pay for each share immediately. The expenditure comes from the existing bitcoin funds in the mine pool, so it can be withdrawn immediately without waiting for the block generation or confirmation. In this way, the operation behind the scenes of the pool operators can be avoided. This method reces the risk of miners, but transfers the risk to the pool operator. Operators can charge fees to make up for the possible losses caused by these risks

in order to solve the problem that PPLNs sometimes has a high profit and sometimes has no profit, PPS adopts a new algorithm. PPS estimates the daily available mineral resources of the mine pool according to the proportion of your computing power in the mine pool, and gives you basically fixed income every day

do you feel that this is a stable job? In fact, in order to avoid the risk of loss, the PPS model often charges a high handling charge of 7% - 8%< DGM: Double geometric method. It combines PPLNs and geometric reward type, so that the pool operator can avoid part of the risk. The pool operator will collect part of the excavated currency in a short time, and then return it to the miners with normalized value, such as charge and discharge of electric capacity. If you are lucky, you will get less money for each block and more money for poor luck

175btc: the mining node of 175btc works on a shares chain similar to bitcoin blockchain. Because there is no center, it will not be attacked by DOS. Unlike other existing mine pool technologies, each node's working block includes bitcoin paid to the owner of shares in the early stage and the node's own bitcoin. 99% of the reward (50btc + transaction cost) will be distributed equally to miners, and the other 0.5% will be awarded to those who generate blocks

bitcoin home has a detailed introction.

5. Because indivial mining is difficult to meet the demand, the global computing power is increasing, and it is difficult for a single device or a small amount of computing power to dig bitcoin again. It is also a combination of a large number of mining machines to form a mine pool. The computing power of the mine pool is very powerful, and it can also ensure that virtual currency can be g more quickly. So how can the mine pool dig? Let's have a look
how to mine a mine pool
the location of a mine pool is also very particular. It's not that a mine pool can be built anywhere, but it needs early-stage capital investment. A mine pool is to combine a single mining machine together. Because of the collection of many miners' computing power, the computing power of the mine pool accounts for a large proportion, and the probability of digging bitcoin is higher. The mine pool will distribute rewards according to the contribution value of each equipment
there are many mines all over the world, and the scale of each mine varies from big to small. Generally, small mines no longer have great advantages. Large mines have many miners for mining. For each miner, he can join any mine or join multiple mines at the same time, The first task of the mine pool is to distribute the income to the miners
(1) PPLNs method
this method gathers the shares g by all miners together. Whenever a certain amount of shares is accumulated (generally 30 million shares), the mine pool will allocate the profits of the previous stage to the miners according to the proportion of contribution
in this way, the income of miners depends entirely on the time needed to dig 30 million shares in the mine pool. If you are lucky, you can dig them in a short time, then the income of miners will be more, otherwise it will be less. In return, the pool charges a 3% tax
(2) PPS mode
for users, the income of this mode is relatively stable
the profit mainly depends on the miner's mining speed. As long as the mining speed is stable, the corresponding profit can be obtained, and the profit is real-time, that is, the mine pool will pay the profit for the miner while the miner is running
obviously, every time a block is calculated, the mine pool has paid for all the miners. If the block fails in the subsequent confirmation link, all the losses will be paid by the pool operator. Therefore, this method reces the risk of the miners, but transfers the risk to the pool operator
therefore, usually the ore pool can charge a handling fee to make up for the possible losses caused by these risks. In this mode, the tax of the ore pool is 7.5%
the above is about how to mine. The difficulty of mining has greatly increased, but the mining army is expanding. If the basic equipment does not meet the standard, it will be difficult to gain in the mining instry, because the value of the virtual currency may not be equal to the price of an equipment, and many miners are not just digging bitcoin, Instead, we choose other virtual currencies to mine.

6. As the computing level of the whole bitcoin network is rising exponentially, a single device or a small amount of computing power can not get the block reward provided by bitcoin network. After the computing power of the whole network has been improved to a certain extent, the low probability of getting rewards has prompted some geeks on "bitcoin talk" to develop a method that can combine a small amount of computing power and operate jointly. The website built in this way is called "mining pool"
because the probability of a single miner digging a block is very small, after all, it takes a lot of computing power to dig a block in 10 minutes. Even if there is such a large amount of computing power and the ability to dig, there are many competitors. So it becomes a game of 0 and 1. And the emergence of the mine pool is to break the 0 and 1 play. The computing power of a mine pool is a collection of many miners' computing power, which is far more likely than fighting alone. Every time you dig a block in the mine, you will be rewarded to the indivial according to the percentage of the calculation power of your mining machine in the total calculation power of the mine, and there will be no unfair situation.

7. How to choose mine pool

ore pool cost

at present, the allocation modes of ore pool mainly include PPS, PPS +, FPPS, PPLNs and solo mode

in the corresponding allocation method, the mine pool charges part of the income of the miners at a certain rate as the mine pool fee

PPS: the income is stable. As long as the mining machine works normally, there will be income. The income is related to the submitted workload, and has nothing to do with the lucky value of the ore pool and the transaction fee

PPS + (pay per share plus) settlement method is an improvement on the traditional PPS settlement method. Based on the traditional PPS settlement method, the distribution of miners' fees is increased

FPPS: full PPS, which allocates all block income including transaction fees. Compared with the traditional PPS settlement mode (no transaction fee allocation), it can increase the income by 10% - 20%

under the PPLNs (pay per last n shares) settlement mode, every effective block found in the ore pool is allocated according to the proportion of user computing power in the pool computing power in the past n difficulty cycles. In this way, the income of miners is related to the output of ore pool. The income of miners is unstable, but the long-term average income is higher

in solo settlement mode, all the income is distributed to the miners who dig out the block, and other miners do not participate in the distribution. The mine pool charges very little handling charge, which is used for the operation and maintenance of the mine pool< How to choose a mine pool:

1< Secondly, choose your distribution mode, pursue stability or high income. It is generally recommended to choose PPS or PPLNs of large ore pool< Finally, according to the distribution mode, select the supported ore pool, and choose the one with fast connection speed and good income

4. In addition, 1-2 spare ore pools are selected for emergency use.

8. Joining the pool alliance has two advantages for miners: one is that miners can get stable mining income; the other is that miners only need to be responsible for hash operation, and other things are handled by the pool, which improves the mining efficiency. In other words, by adding a large proportion of computing power in the mine pool collection network, it is far more likely and less risky for miners to obtain block rewards alone.

9. This kind of game to make money, in fact, is very unreliable, you have to focus on work, hope to help you