Mining Pool

What is Mining Pool?

Groups of miners who share computing power make up cryptocurrency mining pools. Using these resources, mining pools increase the probability of finding a block or otherwise successfully mining for cryptocurrency.

If a pool defeats the opposition and earns a block reward, the reward is then shared among the participants. It's important to keep in mind that this divide might not be exactly equal. If some pool members have provided more processing power than others, they might in some situations receive a higher share of the payout.

There have been some websites created that advertise cloud-based mining pools but have since been exposed as frauds. Additionally, keep in mind that you might need to abide by a set of special criteria inside a pool to qualify for a block reward.