Mining pools consist of a collection of miners who have pooled their resources together in order to mine a cryptocurrency. As the mining difficulty of a cryptocurrency increases, so too does the computational power required to mine it.
This increase in computational power can often be too expensive for a solo miner to handle as it could result in higher energy costs, or the requirement of more specialized hardware. Therefore, miners form collectives in order to better limit the cost of their mining activity. If you are unsure of what exactly the mining process is, check out this article here.
With mining, it is important to understand the different types of blocks that come with it because of the effect it can have on your expected income. This article provides a comprehensive insight into orphan, uncle & genesis blocks.
Even though there are Single Mining pools that only mine a single cryptocurrency, Multipools allow a user to constantly switch between the mining of a cryptocurrency depending on the profitability of the coin at any given time. In-order to determine the most profitable cryptocurrency to mine at a given time, a Multipool will take into account: Read More...