What is a mining mining mining pool pool?

What is a Mining Pool? A mining pool is a mini-network of miners on a blockchain that pools their computing power to verify blocks of transactions and get rewarded; the contributing miners share the verification work.

Why should you join a bitcoin mining pool?

Therefore, joining a mining pool creates a steady stream of income, even if each payment is modest compared to the full block reward (which currently stands at 6.25 BTC ). It is important to note that a bitcoin mining pool should not exceed over 51% of the hashing power of the network.

What is a pool in blockchain?

Pools are communities or groups of (anonymous) people joined together to "pool" their computing resources together . If they pool their computing power they have a higher chance of finding a block and getting a reward. A pool is a group of miners who act as a single miner on the blockchain network. Let's take a Bitcoin blockchain for example.

What is the IP address of the mining pool?

This is contrary to a centralized server approach, which would have poor worldwide latency and security. For example, the main mining pool server is btc.ss.poolin.com, which resolves to an IP Address of: “47.252.92.116”. This is located in a data center in San Mateo, California and is hosted by Alibaba’s Cloud service.