Many people have been asking for more information about the payout schemes for various Ethereum mining pools.
For example, what are the pros and cons of pps+ vs PPLNS.
In this article we’ll look specifically at the Ethpool Payout Scheme and point you in the direction of other resources where you can get more info.
EthPool Payout Scheme
EthPool.org is slightly different to other mining pools in that it is more like solo mining and therefore doesn’t use the PPS / PPLNS / PROP methodology that some others do.
The Terms of Payment for the site states that:
“http://ethpool.org is a predictable Ethereum solo mining pool and implements a solo mining payout scheme. Each submitted share will increase the credits of the Miner who submitted the share by the fixed share difficulty of the pool. The Miner who accumulated the most credits will receive the reward of the next block that has been mined by the pool and his credits will be reset to his current credits minus the credits of the runner up Miner. “Uncles” are distributed in a similar way only that the credits of the Miner receiving the uncle reward will not be reset.”
This also clearly sets out the pool fees, which for EthPool is 1%.
EthPool also offers a support portal that covers many other specific questions relating to payment methods, frequency of payments etc.
This page explains further that the pool operates with a solo mining payment scheme.
“This means the miner who contributed the most work to the pool will receive the full reward of the next found block (or uncle) and his work account (credits) will be reset to his current credits minus the credits of the runner up miner.”
The site has a couple of useful features that will allow you to work out when you’ll be paid, including “time to next block”, on the balance page.
Top Ethereum mining pools
We’ve looked previously at ethermine vs ethpool.
And there is some debate around which pools offers the greater payout. Many suspect that Ethermine is better for smaller miners, while ethpool benefits much larger mining operations.
Large outfits are making it more difficult for smaller miners to compete on the pool, increasing the time it takes to get paid. As a result, several miners have switched to other pools like Nanopool.
See our other article on top ethereum pools in 2017 here.
Here is a useful run through of the payment methods for most of the top pools, including the ethpool payout scheme.
Finding the right pool is really important, and it is definitely worth taking some time to investigate your options. Have a play around with the mining calculators as well.
The differences in picking the right pool can be substantial, beyond just the processing fees. You also have to consider things like opportunity cost, if you’re tied into a pool that is taking a long time, but you can’t leave as you are awaiting payment, that is time lost that could have been much better spent in another pool.