Mining is an important part of any proof of work algorithm and is crucial in maintaining the secure and decentralized nature of blockchain. Bitcoin establishes a particular type of PoW protocol which consists of miners verifying and maintaining the network, ensuring that the network of transactions is secure, immutable, trustless, democratic, and in theory which is more scalable than any database that is centralized. In this article, we will discuss the best Bitcoin mining pools.
Every miner in a network such as Bitcoin is an independent computer node, that is connected to the blockchain network and other nodes that are similar through the internet.
What Is Bitcoin Mining?
Bitcoin mining is carried on by high power computers that solve mathematical problems that are complex in nature. These problems are very complex and cannot be solved by hand and need computer programs for that. It is a process of generating new Bitcoin by solving mathematical problems on the computer. A ledger is required for Bitcoin mining.
Bitcoin mining pools are groups of miners who gather their computing expertise and divide the mined coin among the participants. There are many free Bitcoin mining pools that we will discuss in this article.
Are Bitcoin Mining Pools Worth It?
People may wonder, is Bitcoin Mining Profitable or Worth it in 2021? The answer is yes, absolutely, even though it’s complicated. Bitcoin mining started as a well paid hobby for early crypto enthusiasts who had the opportunity to earn 50 BTC in every 10 minutes, mining simply from their bedrooms.
How Do I Join The Bitcoin Mining Pool?
Since Bitcoin mining has a great prospect for all crypto enthusiasts now, here are the way in which one can join Bitcoin mining pools,
- Choose the pool you want to join.
- Add the stratum addresses of the mining pool that you selected to your mining software client.
- Connect your crypto wallet you wish to deposit mined cryptos into.
- Configure your mining client for the mining pool that you choose.
What Are The Best Pool For Bitcoin Mining?
The Bitcoin mining pool chart that has been mentioned below has been targeted with multiple servers all around the globe that allows the users to connect easily. So here are the Bitcoin mining pools which one should consider for Bitcoin mining.
Slush pool was started in 2010 when it was called Bitcoin Pooled Mining Server where more than 1.25 million BTCs have been mined to date. It is the oldest active mining pool for Bitcoin and is known for its stability and accuracy.
- Oldest mining pool in existence
- Worldwide servers
- Has relatively high fees
ViaBTC is a mining pool which is based in China and was started in 2016 with a global presence that had its servers in more than 130 countries. It is known to be the leader in mining and supports more than a dozen coins. This can also be used in Ethereum mining pools.
- Multiple coins supported
- Easy to set up
- Rejection rate issues
Also Read: Everything You Need To Know About Chip Demand And Its Effects What Is The Effect Of Bitcoin Mining Energy Consumption 2021?
AntPool is one the biggest mining pools that are in operation today and mines nearly 11% of all blocks. It is operated and owned by Bitmain, which is an entity based in China. AntPool provides peer to peer mining protocol and has its servers established in all corners of the world.
- Easy-to-use dashboard
- Choose your own mining reward
- Smaller pay-outs
BTC.com is one of the renowned brands in the world of digital currency. This outlet is the owner of Bitcoin.com as well. Before they began mining, Bitcoin in 2016 established their well known Bitcoin wallet that is also famous now. The operating pool of BTC.com is medium size.
- Well-established company
- Miners share transaction fees
- Minor issues with navigating the site
KanoPool has been around in the mining world since 2014. It enjoys a following for its low mining fees that is combined with an easy setup process despite being one of the smaller pools out there.
- No registration required
- Low pool fees
- The website is very basic
Bitcoin mining has gained enough popularity over the years and is now considered as a worthy model of investing in Bitcoin or any other cryptocurrency. So the above is a list of the best Bitcoin mining pools that one may choose if they wish to start Bitcoin mining.
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