In 2012 miners were able to reduce the usage of their network bandwidth, which is also known as “vardiff”, or variable-difficulty shares. It was the first PPS (pay per share) for LTC. It was a combination of Poolar’s ideas and heavy-modified variation of Jeff Garzik’s push pool. The first Litecoin mining pool opened for business in 2011. History and Future of Litecoin (LTC) Mining pools The best thing to do in case you see this occurring is to immediately abandon the Litecoin mining pool and join a smaller one. They can be very dangerous and damaging to the network, as whoever’s holding the majority of the power during such attacks, is abusing it for their own profit and is damaging the integrity of the chain. Such attacks happen in the case of someone holding more than half of the hashing power. This means that at least for the time being, the blockchain is safe from 51% attacks. The hash rate in the Litecoin network is fairly distributed among the pools for the moment of writing this article. Even when your hired hardware is in some other country, it is still directed to mine in some of the largest China pools. The logical outcome is to have all their pools with local status.ĪSIC machines make the most sense when I talk about profitability in a Litecoin pool. Most of the ASIC manufacturers are located in Asia, well in China in particular. Asia also provides low-cost electricity, which makes the hash rate distribution of the coin’s network steady and reasonable. The location is perfect, as most of the coins there can be mined with ASICs. The leaders in the business with the best Litecoin mining pools are located mainly in Asia (China). I have prepared an updated list of Litecoin mining pools that don’t require registration: This is in case you really value your privacy and you don’t want to give up any information when registering. In case the pool of your choice doesn’t require a registration, joining it is usually a simple procedure. This way you won’t be affected by any downtime. It is always a good idea to play it safe and be prepared in case your main pool is unreachable for some reason. I want to draw your attention to an essential detail – the number of LTC mining pools you have joined.
Have a look and make sure you make the best choice. I won’t go into more details here, but I have prepared a separate page focusing on this – “Mining pools reward systems”. There are several methods, which determine how the reward from each mined block is divided between the pool’s participants. I also want to point out one of the main things defining your Litecoin mining pool choice – the reward system. I’ve covered all of them as well in the “How to choose the right mining pool” guide. There are many other factors, that could affect your decision and change the mining outcome a bit. The information from my review is showing the main aspects of a mining pool. *Be aware, that estimations and values in this area are not certain or constant.
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