Trying to understand what ETC mining pool is truly the best, it won’t be extra to get a deeper insight into the topic, checking what evolution and revolution these tools have already experienced. Keep on reading this article to get brief and accurate details about the best pool ETC solutions. Onwards!
What is the first mining pool
Created back in 2010, SlushPool is definitely a pioneer in the market. It was presented by the founder nicknamed Slush, which gave the name for the pool as well. Contrary to current multioptional ETC pools, this format was oriented on Bitcoin GPU mining.
History facts about mining pools
After Bitcoin, known as the first cryptocurrency, was launched in 2009, the discovery of the pioneer versions didn’t take long to fuel the market. As the aforementioned paragraph states, it took just one year. The following era was occupied by deepbit, which provided almost half of the industrial hashrate.
Before Ethereum Classic mining pools started to occur, interested parties were interested in diversifying the ways to mine — GPU, CPU, and ASIC, which was introduced in 2013. At the moment, there are several mining pools to admire, and different venues don’t hesitate to create their own currencies and tools to operate them (for instance, the case of Binance). The deals of Hiveon are among the most luxurious for Ethereum fans.
The way mining pools work
Whether you join an Ethereum Classic pool or the other type of mining pool, the basic performance principle will be the same:
- You add your computational powers to the network and remotely cooperate with hundreds of users to generate a block and secure the system.
- When the block is achieved, the results are analyzed and rewards are distributed.
- You start again, spending less time waiting for the block creation.
Different varietals of mining pools
There are different categories of mining pools. They are different in terms of their computational method (ASIC or GPU), cryptocurrency potentials, and profit distribution methods. Let’s consider a few types of mining pool payment methods:
- Pay-Per-Share — it defines the amount of income based on the effort, namely resources, spent.
- Per-Per-Last-N-Shares — this method considers the number of shares in percent and compared them to the total number of shares in the network — that’s how the profit is defined.
Wrap it up
Whenever you are interested in the best type of mining pool for your Ethereum adventures, the Hiveon pool will come in handy. Compared to the first versions of this cryptocurrency technology, it has improved significantly. With the PPS+ distribution technique to ensure significant profit payouts, this service is the third-biggest player for Ethereum enthusiasts in the global arena. It is definitely worth checking for both beginners and expert users.