Top Litecoin Mining Pools

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In other to try to pic the top litecoin mining pools, its good to have an overview of what a mining pool is.

A mining pool is the pooling of resources by miners, who share their processing power over a network, to split the reward equally, according to the amount of work they contributed to solving a block. A “share” is awarded to members of the mining pool who present a valid proof of work that their miner solved. Why a mining pool? Mining in pools began when the difficulty for mining increased to the point where it could take years for slower miners to generate a block. The solution to this problem was for miners to pool their resources so they could generate blocks more quickly and therefore receive a portion of the block reward on a consistent basis, rather than randomly once every few years.

Lots of cryptocurrencies have mining pools, eg bitcoin and Litecoin. For the purpose of this article I am listing the top, with reasons behind my choice. Please not that it is not encouraged to mine at large mining pools due to the risks involved when pools grow to this size. With mining, bigger does not mean it is better, and joining a bigger pool does not mean bigger or faster payouts.

The criteria that will be used to get the best pools are;

Sample opinion of top professionals

Reward, Fee %, Variable-difficulty”, Does the pool share transaction fees with the miners? , Load balancing helps maintain uptime in case a server goes down. SSL encryption protocol that protects your privacy,

1. Coinotron.
It was launched 2011-10-20.

Reward – Has Pay Per Share. Each submitted share is worth a certain amount of Litecoin. It is risky for pool operators, hence the fee is highest. The fee is 6%

Has Round-Based Pay Per Share. Like PPS, but payouts are delayed until a block is found and confirmed by the network. If a found block gets orphaned, earnings relative to it are not paid. The fee is 4.5%

Has Pay Per Last N Shares. Similar to proportional, but instead of looking at the number of shares in the round, it looks at the last N shares, regardless of round boundaries. The fee is 1.5%

Variable-difficult optimizes the difficulty based on your worker’s capacity. Does not have variable difficulty

Transaction fees. The pool does not share transaction fees with the miners. This is made up with the multiple reward system.

There are no multiple mining servers,

The pool have SSL on the main website

2. litecoinpool.org.
It was laughing 2011-11-05

Reward- Has Pay Per Share alone. Each submitted share is worth a certain amount of Litecoin. It is risky for pool operators. The fee is 4

Variable-difficult optimizes the difficulty based on your worker’s capacity.

Has variable difficulty

The pool have multiple mining servers.

Has SSL on the main website.

3. GiveMeCoins
It was launched 2013-03-11.

Reward- Has Pay Per Last N Shares. Similar to proportional, but instead of looking at the number of shares in the round, it looks at the last N shares, regardless of round boundaries. The fee is 0

Has variable difficulty

The pool share transaction fees with the miners

The pool have multiple mining servers.

The pool have SSL on the main website

4. TBDice.
It was launched 2014-12-28.

Reward- Has Pay Per Last N Shares. Similar to proportional, but instead of looking at the number of shares in the round, it looks at the last N shares, regardless of round boundaries. The fee is 1.5%

Has variable difficulty

The pool share transaction fees with the miners.

The pool does not have SSL on the main website.

The best among the mining pools above is Coinotron, this is based upon its multiple reward system. And has been in business for quite much longer time than the others, as well as the experiemce of miners

If you think there are others that can be added to this list pls let us know why you think so.



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