Joining an Ethereum mining pool and combining your resources with other miners will help you see results faster and realize a quicker return on your investment.
This post will take a look at some of the top Ethereum Mining pools in 2017.
With so many mining pools at play in the market, solo miners are finding it more difficult to get blocks to process and the Ethereum mining rig that a solo-miner uses, needs to have massive processing power to be able to compete with the pools, which can be very expensive.
If you decide to join a pool, then choosing the right pool that meets your mining expectations is important, as well as understanding the different pay-out methods and how they will impact your earnings.
The larger pools, that have been mining for longer, are more reliable and you can be more certain of receiving your profits.
To calculate your expected earnings and see the best path to choose, you can use the calculator at this link.
Check out our other post on Ethereum mining calculators.
The Best Ethereum Mining Pools of 2017
The two share an underlying pool, but have different payment methods. Ethermine uses the PPLNS payment method, (Pay Per Last “N” Shares) which involves some luck in the payment but on average pays 5% more. Ethpool is a predicable solo mining pool and pays on the PPS method, a standard pay per share model. Ethermine has more than 200 000 active workers and processes about 32 blocks an hour, while Ethpool has about 12500 active workers and processes about 5 blocks an hour.
Other top pools include:
- F2pool – Also known as Discus Fish (https://www.f2pool.com/). F2pool has been operational since 2013 and contribute about 24% of the network hashrate. Payments are also made via the PPS method and on a daily basis. The site is predominantly Chinese but has an English interface and has servers across Asia to ensure security and redundancy. F2pool can also be used as a litecoin mining pool.
- Nanopool – Next on our list is Nanopool (https://nanopool.org). Nanopool currently has 40 000 Ethereum miners and accounts for 15% of the hashrate. Nanopool uses the PPLNS method to calculate payments the same as Ethermine. Payments are made several times during the day and Nanopool has servers in Asia, Europe and America. Nanopool also offers miners the option to mine in Ethereum Classic which is a split from the traditional Ethereum currency.
- Miningpoolhub – Miningpoolhub (https://miningpoolhub.com) currently generates about 7.6% of the hashrate activity on the network. The reward calculation is based on a transaction fee, a block finding fee and uncle rewards and incentives. Miningpoolhub also has servers across more than one continent (US, Europe and Asia) ensuring a redundant environment.
- Dwarfpool – The last of our top performing Ethereum pools is Dwarfpool (https://dwarfpool.com). Dwarfpool uses a RBPPS payment method (round based pay per share), which is based on the PPS method. Autopayouts are done hourly and they guarantee 100% uptime due to their distributed infrastructure. Dwarfpool makes up about 13% of the network hashrate.
All these top pools offer statistical reporting and monitoring via e-mail.
Mining pools are not to be confused with Ethereum cloud mining where the full task of mining is outsourced to an organisation which supplies the hardware and running costs and pays you a dividend based on your investment.
Mining pool payout schemes
The various different mining pools have different payout schemes, including PPS+ vs PPLNS. These determine the method by which your contribution to the pool is calculated, and ultimately how much money you get. It is important that you understand the payment scheme before you get involved in a pool.