Topic: Differences betweet mining pools

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FROM: http://www.cryptocoinsnews.com/news/bitcoin-mining-guide-choosing-profitable-mining-pool/2014/08/17?utm_source=rss&utm_medium=rss&utm_campaign=bitcoin-mining-guide-choosing-profitable-mining-pool

A Bitcoin Mining Guide to Choosing a Profitable Mining Pool

 Rick Mac Gillis  17/08/2014  Bitcoin Mining, Education, Learn about Bitcoin, Mining, News, Research
bitcoin and altcoin mining

Many people don’t know about the different types of mining pools out there. Multi-pools allow for mining multiple currencies based on profitability, some only focus on promising new coins, and some only focus on one particular coin as their whole purpose. Not only are there different mining pool types to choose from, but the payout methods are different, with PPLNS, PROP, and PPS being the most popular.

This mining guide will clue you in on what pools are available to you, and what payout methods they use.

CCN
A Guide to Different Cryptocurrency Mining Pools

Single Coin Mining Pools

Single coin mining pools are just what they sound like they are. This type of mining pool allows you to focus on mining a particular coin. People usually mine Litecoin or Bitcoin directly using a single coin mining pool. If you want to avoid conversion rates on exchanges and you have the right mining equipment to mine the particular coin, you can gather quite a number of coins this way. However, the trouble comes in when many people are mining on the same coin’s network that you are. The difficulty goes up to compensate for the added hashing power. This next pool type will show you how to get around that issue.

Multi-Pools

Multi-pools are a type of mining pool that allow you to switch automatically from coin to coin based on which coin is the most profitable to mine. They usually factor in a variety of things, such as the exchange rate, and difficulty for each coin. Once another coin becomes more profitable to mine, the pool starts mining a new coin. If you’re only interested in one coin in particular, some multi-pools allow you to mine on a separate port exclusively for that coin. CleverMining.com and MultiPool.us are a couple of the most-popular pools in this category.