Bitcoin Mining Pool

Bitcoin Mining Pool Payment Methods (How Mining Pool Pays)

Last Updated on September 6, 2020 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.

PPS: PPS stands for 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. In PROP enables proportional distribution of payouts when a block is found.

CPPSRB: This method never kept miners funds, as they pay directly to miners from 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 like 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 got added is Equalized in compare 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 mentioned here for now.

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