In this article, we will talk about Top Best Mining Pools for Best Cryptocurrencies in today’s world and will see the applications of each.
Mining pools have become an integral part of the cryptocurrency mining ecosystem since their introduction in 2010 by Satoshi Nakamoto as part of the original Bitcoin white paper.
Mining pools allow miners to share their hashing power over a network, and in doing so they contribute to finding that next block on the blockchain and receive proportional rewards based on the amount of work they contributed to finding it.
Pooled mining decentralizes mining power and makes it easier for smaller miners to compete with large ones, reducing the risk of centralization.
Top 12 Best Mining Pools
Here are the top 10 mining pools ranked by their hash power contribution over time (as well as others that might be relevant).
Founded in 2014, AntPool is one of the largest bitcoin mining pools in terms of its hash power.
AntPool supports p2pool and stratum mining modes with nodes that are spread all over Asia, Europe, and America.
It can be run on different operating systems like Windows, Linux, OS X and supports both SHA-256 (Bitcoin) and Scrypt (Litecoin) miners.
The minimum payout threshold is 0.01 BTC/share.
F2Pool is a mining pool located in China and was founded back in 2014. The F2Pool mining pool has mined about 15% of all blocks over the past six months.
It’s no surprise that F2Pool controls such a large percentage of hashing power, considering it’s one of the largest Bitcoin mining pools in terms of its hash rate distribution.
Although its location may not be ideal for some miners, there are plenty of reasons to mine on F2Pool besides its size.
Many veteran Chinese Bitcoiners consider F2pool one of the greatest players in their country’s mining industry today.
Founded by Wang Chun and Mao Shihang in 2013, F2pool now has more than 150 petahashes per second (PH/s) worth of computational capacity spread out across four data centers in various parts of Asia.
3) BW Pool
BW Pool is a mining pool formed by a group of Chinese miners back in 2014, The place to be if you want to mine bitcoin.
BW stands for block withholding, meaning that it does not publicly display any transactions statistics and only shares mined blocks with its members.
This pool is constantly on top of all other pools when it comes to hashing power and, at times, even protocol development.
BW also sports a best-in-class fee structure that makes it as profitable as possible for miners of any size.
4) BTCC Pool
BTCC Pool is operated by BTCC, a Bitcoin company based in China. It is considered to be one of the largest mining pools on the Bitcoin network.
The pool mines about 7% of all blocks. It charges no fees for using its pool. BTCC Pool supports p2pool and stratum mining modes with nodes that are spread all over China.
BTCC is one of China’s three biggest mining pools, along with F2Pool and AntPool. Its website offers pool statistics, more than a dozen mining tools, its own mining calculator, and a section dedicated to cloud mining contracts.
In addition to Bitcoin, BTCC supports Litecoin (LTC), Ethereum (ETH), and Zcash (ZEC).
It’s based in Shanghai and operated by BTCC, a Bitcoin company that also runs BTCChina and BTCExchange.
BitFury is one of Bitcoin’s largest mining pools and also a manufacturer of Bitcoin hardware.
The company was founded in 2011 and is headquartered in Amsterdam, It has offices in San Francisco, Washington, and London.
BitFury is one of Bitcoin’s largest mining pools. BitFury has announced an agreement with GUC, an Austrian electronics retailer, to sell the new BitFury Clarke hardware.
This is the first time BitFury has offered hardware outside of its own site.
6) Slush Pool
Slush Pool is a Bitcoin company based in the Czech Republic managed by Satoshi Labs, Since its launch in 2013.
Slush Pool has grown to become one of the largest mining pools for bitcoin and merged mining with Namecoin, DOGE, and other alternate cryptocurrencies.
Slush Pool is a digital asset mining pool that allows users to mine bitcoin (renamed to BTC for accounting purposes) and/or merge mine Namecoin and an alternative digital currency named DogeCoin at the same time without experiencing reduced mining speed. Users can switch between options using their mobile numbers as credentials.
Founded in 2016, ViaBTC is one of China’s leading Bitcoin mining pools. They have F2Pool (discussed later) to thank for their early start, as ViaBTC was originally a merge-mined fork of F2Pool.
The miner pays a 2% fee with a minimum 0.0135 BTC payout. Although they don’t offer any special features, it is still one of the most popular and best top best mining pools.
HaoBTC is a China-based mining pool that was launched in May 2014. It operates several servers in mainland China and currently has over 8,000 miners.
The company allows users to mine either Bitcoin or Litecoin for a 1% fee.
It also offers 2-factor authentication via text message, email, and Google authenticator app.
Payments are made once per day using a Bitcoin wallet. Signing up with HaoBTC requires an email address and no prior registration on mining pools are required to join their pool.
Based in India, GBMiners is one of the largest mining pools that offers a wide variety of algorithms to suit miners from all walks of life.
Operating since 2016, GBMiners has managed to capture 3.7% of total bitcoin hash power which makes it stand apart from other competing pools with low hash rates.
The platform supports both getwork and stratum protocols making it compatible with various mining software including BFGminer and Sgminer among others.
Poolin is a consensus mechanism used by cryptocurrency mining pools.
It involves having multiple generating clients contribute to solving a block, and then splitting the block reward according to how much work each client contributed.
Pooled mining requires a small fee to be paid for each transaction that goes to the pool operator, which is almost always an organization running multiple miners.
The rationale behind pooling is that it reduces variance in miner income (or more accurately transaction fees earned).
By generating fewer blocks, but doing so more often, pooled miners will on average have smaller incomes than solo miners.
11) BTC.com pool
BTC.com is one of the leading bitcoin mining pools. they offer a highly reliable and trusted platform for the world’s miners to mine bitcoin.
Their pool has been running for over four years, and they have continually worked to improve our services – resulting in greater stability and security.
Mining Bitcoin, Ethereum, and other cryptocurrencies can be a challenge. This is why BTC.com has designed the best mining pool with first-class service, the lowest fees, and an intuitive interface with features that help you earn more money.
One of China’s largest bitcoin pools, Innopool mines about 11% of all blocks found worldwide every day and charges 1% fees on payouts.
Founded by Bitmain, a manufacturer of many reputable BTC miners like Antminer S7s and Antminer R4s.
Among all of these bitcoin mining pools, Nanopool stands tall for its community-based approach to mining.
Once you create an account, you can take part in various educational events and even meet people from around the world with similar interests.
You’ll also enjoy a very lucrative welcome bonus (10% of your first month’s profits). Once you start making money, you can take advantage of other benefits as well, including hourly interest payments and loyalty rewards.
The number of miners on a pool doesn’t matter much, The bigger pools are more stable, have better connectivity, and have more hash power available to them.
To be honest, it doesn’t really matter which pool you choose, Just go with one that has low fees and a good reputation.
Most of these pools don’t even tell you their fee structure that alone should tell you everything you need to know about them.
Nitin is a professional data Engineer, Who has a Post Graduation in Data Science and Analytics and working in the healthcare sector. Experts in Data analysis, Machine learning, AI, blockchain, Data related tools, and technologies. He is the Co-founder and editor of analyticslearn.com