Frequently Asked Questions
Do I have to register to mine?
Registration is not required. Just configure your miner according to our instructions and start mining. Your first submitted share will automatically register you with our pool. Good Luck!
Should I choose Pool or Solo?
Simple. If you have to ask, chose Pool. 🙂
Is my Mining-Rig's communication with the pool encrypted?
All of our stratum ports accross all pools automatically sense incoming SSL connections and switch to an encrypted connection accordingly. Just configure your mining software to use SSL (aka TLS). How this is done in detail depends on the mining software.
Why is my reported hashrate zero or different from what my miner reports?
Pool and miner hashrates are re-calculated every ten minutes. Therefore it can take a maximum of ten minutes for your hashrate to update depending on the submission time of your first valid share. The hashrate we display at the pool is a rough approximation of your hashrate based on your submitted shares and can therefore differ significantly from the hashrate displayed locally. When in doubt always consider the value displayed by your miner as the correct one.
How will I get paid?
All of our non-solo pools utilize the PPLNS payment system. PPLNS is short for "Pay Per Last N Shares". The image below illustrates the system. One round has an arbitrary number of shares which is solely based on sheer luck. Proportional reward systems only consider shares of one round when calculating rewards. PPLNS however, uses a quite constant number N of shares for calculating rewards. This number N changes only with the difficulty:
As you know the number of shares needed to solve a block within a round is different. Round one and three needed (difficulty * 2) shares to be solved. Round two and four are quite short rounds. There were less than (difficulty * 2) shares necessary to solve them. Round five however is a very long round which means the pool needed more than (difficulty * 2) shares to solve the block. From this follows that:
- Rounds one and three are like proportional rounds. All of your shares from the given round are considered for reward calculations
- For rounds two and four, shares from the previous rounds are considered for calculations as well (marked green). In other words: regardless of round boundaries we always consider the last (difficulty * 2) shares. Your portion of the amount of shares is used to calculate your reward.
- Round five however is very long. In this round your lowermost shares (within the marked red part) are silently dropped if they are not within the last (difficulty * 2) shares.
PPLNS favors constant and/or occasional loyal pool members over pool hoppers. Pool hoppers are betting for a "quick win" (like round two above) with low shares per round. If the round exceeds a certain amount of shares they "hop" to another proportional pool which started a new round more recently. This assures better rewards for pool hoppers over occasional or constant miners which are loyal to their pool. Pool hopping however implies that pool hoppers need to know when a round is started and how much shares are considered for reward. This is very easy with proportional reward system. While using PPLNS, this is no longer true. On long rounds (like round five above) the pool hoppers shares won’t be considered for reward calculations in favor of loyal miners. This is due to the fact that pool hoppers only mine on the beginning of rounds. On short and normal rounds pool hoppers won’t lose their shares. Due to the fact that shares from previous rounds from loyal miners are considered twice (or even more often on extremely short rounds) the pool hopper won’t get the same reward as from proportional reward system.
Assuming blocks have been found, payouts are processed and send every hour. This process is fully automated.
When will I get paid?
You won't see any balance in your account until a block has been found by the pool and after the block has reached a mature status. This may take a couple hours, depending on the coin. As soon as a block can be considered 'mature' by the pool, your shares will be used to calculate your contribution towards finding the block. The more you've contributed, the higher your cut of the block reward will be. Your cut of the block reward will then be credited to your pending balance. If your balance reaches or exceeds the pool's minimum payout amount, the pool will transfer your entire balance to your wallet and reset your pending balance to zero. The minimum payout for each pool is listed in its 'Pool Stats' area.
We are a small pool for the time being, and as such it may take some time to find a block. On larger pools you would see some balance earlier because they will find blocks faster, but you will get a smaller share of the reward than what you would in a smaller pool. Over time you will earn more or less the same amount when mining on a large pool or on a small one.
In other words, the rewards you get on average are exactly proportional to your part in the total work done by the pool. If you mine in a pool twice as large, the pool will collect twice as much rewards but your share in them will be cut by half, meaning you get the same on average.
Trustworthiness, reliability, support and low latency are the things you should consider when choosing a pool. By avoiding the largest pools you contribute to the network health by spreading the hash power.
How does Solo-Mining work?
When Solo-Mining using your own hardware or leased infrastructure such as Nicehash, you are competing with other miners on the same pool instead of working together as a team. Hence the name SOLO.
The advantage is that when you are the lucky miner submitting a block solution, you get to keep the full block reward 💰 minus the pool fee. The downside is that if somebody else submits the block solution, you get nothing. 😿
Can I mine using Nicehash?
Nicehash Mining is supported on all of our pools. The correct settings will be auto-configured when we detect Nicehash's Miner.
Do you provide an API?
Yes, it is documented here.