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BTCC / Hashtag / merge mining pool
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What is a mining pool?

A mining pool is a joint group of cryptocurrency miners who combine their computational resources over a network to strengthen the probability of finding a block or otherwise successfully mining for cryptocurrency. Cryptocurrency mining pools are groups of miners who share their computational resources.

What is a share in a mining pool?

To sum it up, a share is a hash used to keep a track on miners’ work. The mining pool accepts the connection and starts transmitting key information such as mining difficulty that the miner will be facing when mining. Imagine, there is 1 miner (let’s call him Axel) and 99 other miners have 0,01% of the total network hashrate.

What happens when miners work together in a pool?

When miners work together in pools, they have a higher chance of finding a block together. Once the block is found, the pool distributes the reward to all the miners who participated in finding the block. Pools have different reward schemes . You can learn more about the different reward schemes here. Is NiceHash a pool?

Which country has the second largest mining pool by concentration of miners?

The second biggest mining pool by concentration of miners is the Czech Republic! Cloud-based pools: Miners in these pools mine independently, and connect to the pool through the cloud. Mining farms: These miners are like data centers, whereby hundreds or even thousands of miners are sat together working in the same pool.

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