Last Updated on June 15, 2019 by cryptocreed
There are different methods in Bitcoin Mining Pools through which users can get their rewards. Out of them PPS and DGM are considered as best Payment methods. Each method satisfies each group of miners. Some prefer PPS and some prefer PPLNS and more on. Read this post before joining any mining pool and always check which payment methods are used by pools.
Must get your Hardware Wallet first. Mining pool payment methods.
PPS: PPS stands for Bitcoin mining pool Pay Per Share. PPS means miners get paid for each share, it is like giving instant wage to labor. A payout can ask instantly.
PPLNS: PPLNS stands for Pay Per Last N Shares. Here N means for some numbers. PPLNS explained in brief here.
DGM: The DGM stands for Double Geometric Method. In these methods, operators get a portion of payouts to absorb risk.
PROP: PROPORTIONAL means standing to PROP. PROP enables the proportional distribution of payouts when a block is found.
CPPSRB: This method never kept miner’s funds, as they pay directly to miners from the founded block. CPPSRB stands for Capped Pay Per Share with Recent Backpay.
SMPPS: Shared Maximum Pay Per Share is stood for SMPPS. It has a similar concept to PPS but in this method mining pool never pays more than the pools had earned.
ESMPPS: Equalized Shared Maximum Pay Per Share is stood for ESMPPS. As you can see only one extra word that got added is Equalized in comparison to SMPPS. In this, the pool pays equally between all miners.
POT: The Pay on Target. POT approaches is a high variance PPS that pays out in accordance with the difficulty of work returned to the pool by a miner, rather than the difficulty of work done by the pool itself.
There are few more Bitcoin Mining Pools Payment Methods which didn’t mention here for now.