The mining of Ethereum and other cryptocurrencies will continue to be profitable for a long time, and it is likely that after having solved the first challenges (hardware selection, equipment assembly, etc.) you will ask what is the next step. If you have decided to mine this cryptocurrency and have the necessary equipment, the next thing to do is join an Ethereum mining group (or mining pool ).
The mining pools are simply groups of miners who work together to extract Ethereum. Joining a group helps reduce the volatility of rewards by providing smaller and more frequent payments instead of a lump sum you only receive when a block is resolved.
Joining a mining group of Ethereum and combining your resources with other miners will help you see the results faster and get a faster return on your investment.
When choosing a mining group, it is important to join one with low rates that provide reliable returns. You should also consider the location of the cluster server when you decide which is best for you. To obtain the best results, you must choose a server that is close to your geographical location. This will reduce the latency times and improve the mining performance of the equipment.
In this article, we highlight the best Ethereum mining groups at the moment so you can decide with certainty which one to join.
If you decide to join a group, then it is important to choose the right group that meets your mining expectations, as well as understand the different payment methods and how they will affect your earnings.
Without going too deep into the technical aspect, the reward system used by a mining group is divided into two basic methods: PPLNS and PPS.
1. PPS means payment per share (Pay Per Share). This means that each Share that mines has a specific value for the Ethereum mining network and that is what they pay you during the distribution of the group. If you mine intermittently for a certain period of time, this is the type of payment you want.
2. PPLNS means payment for the last n shares (Pay Per Last N Shares).This is more a variable number based on the luck of the group. Therefore, if the group is lucky and extracts more blocks in a certain period, you will get a higher payment. Of course, if the mining group has bad luck, you will get a smaller profit. If you are running 24 hours a day, 7 days a week, and do not log out frequently, you will get approximately 4% more ETH using PPLNS compared to PPS for Ethereum extraction.
Other factors that you should consider when choosing a mining pool are the following:
Reasonable Minimum Payment: This is especially important if you only have one mining platform, since you do not want your payment to potentially take a week or more to reach your account. The majority of the Ethereum mining groups pay when the extracted amount accumulates until reaching 0.05 – 0.2 ETH.
Reduced mining rates: most pools charge mining fees of 1-2% for their services. Something more than that, and basically you will be giving away your winnings.
Currently (November 2017) the two best mining groups of Ethereum are: Ethpool(http://ethpool.org) and Ethermine (https://ethermine.org). Together they have more than 27% of the hashrate of the network.
The two share an underlying group, but have different payment methods. Ethermine uses the PPLNS payment base ( Pay Per Last N Shares ) while Ethpool is a mining group that uses the PPS ( Pay Per Share ) payment method . Ethermine has more than 200,000 active workers and processes approximately 32 blocks per hour, while Ethpool has around 12,500 active workers and processes approximately 5 blocks per hour.
Ethpool is a predictive solitary mining group ( predictable only mining pool ) where 100% of the income is paid to the miner who contributed most of the work. By using Ethpool you get the advantages of mining combined with a solitary mining payment scheme.
Ethpool offers miners the opportunity to mine Ethereum anonymously and offers full support to users, including those using the Stratum protocol. The site also includes online mining statistics that can help you estimate your earnings. In addition, it offers real-time tracking and email notifications of the found blocks.
Ethpool has around 12,500 active workers and processes approximately 5 blocks per hour. The group rate is currently 1%.
Ethermine works on the PPLNS payment scheme (Pay Per Last N Shares), which includes a luck factor in the payment calculation, and favors loyal users, compared to those who jump from one pool to another.
As with Ethpool, complete Stratum support is available and payments are made instantly with a minimum threshold of only one ether. The cost per group participation is also 1%.
Reports and email tracking are available in Ethermine, as well as notifications of invalid shares and detailed statistics by worker as well as global statistics. Ethermine has more than 200,000 active workers and processes around 35 blocks per hour.
Also known as Discus Fish (https://www.f2pool.com/), F2pool has been up and running since 2013 and contributes approximately 24% of the hashrate of the network. Payments are also made through the PPS method and are made daily. The site is predominantly Chinese, but has an interface in English and has servers throughout Asia to ensure security and redundancy.
F2pool also offers statistical reports and activity monitoring via email.
Next on our list is Nanopool (https://nanopool.org). Currently, Nanopool has 40,000 Ethereum miners and represents 15% of the hashrate. Nanopool uses the PPLNS method to calculate payments in the same way as Ethermine. Payments are made several times during the day. Nanopool has servers in Asia, Europe and America.
The default minimum payment threshold with Nanopool is 0.2 ETH, but you can increase or decrease the minimum in your configuration.
Nanopool also offers miners the option to extract in Ethereum Classic, which is a division of the traditional Ethereum coin.
Miningpoolhub (https://miningpoolhub.com) currently generates approximately 7.6% of the hashrate activity in the network. The calculation of the reward is based on a transaction fee, a block search rate, and rewards and incentives for incomplete blocks ( uncles ).
Miningpoolhub also has servers in more than one continent (USA, Europe and Asia) that guarantee a redundant environment.
The last of our best Ethereum groups is Dwarfpool (https://dwarfpool.com). Dwarfpool uses a RBPPS payment method ( round based pay per share ), which is based on the PPS method. Automatic payments are made every hour and guarantee a 100% uptime due to its distributed infrastructure. Dwarfpool constitutes approximately 13% of the hashrate of the network.
Original article and pictures take digitalbodha.com site
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