Ever since the concept of pool mining was first introduced, the average miner has been offered an alternative and more seamless means of generating income from a crypto venture generally considered expensive and technically imposing. Over the years, certain services have set themselves apart as market leaders in this sector. One such platform is ViaBTC, a china-based mining pool that has become a one-stop mining service for miners around the world. However, before deciding to opt for this solution, there are certain things that you need to know. Here, I will highlight all the key features of ViaBTC’s mining pool, why it has remained a relevant mining service as well as its downsides.
Rocket Pool is a decentralized Ethereum staking pool offering up to 4.33% APR for ETH2 staking. Users can join the Rocket Pool with its decentralized node operator network or run their own nodes with only 16 ETH. In the latter case, they can earn a commission from staking ETH and earn additional RPL rewards from providing RPL collateral, amounting to up to 6.36% APR for ETH and the additional RPL rewards.
PancakeSwap is a decentralized exchange for swapping BEP20 tokens on Binance Smart Chain. PancakeSwap uses an automated market maker (AMM) model where users trade against a liquidity pool. Such pools are filled with users’ funds. They deposit them into the pool, receiving liquidity provider (or LP) tokens in return. They can use those tokens to reclaim their share, plus a portion of the trading fees.
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Mining pools are groups of cooperating miners who agree to share block rewards in proportion to their contributed mining hash power.
While mining pools are desirable to the average miner as they smooth out rewards and make them more predictable, they unfortunately concentrate power to the mining pool’s owner.
Miners can, however, choose to redirect their hashing power to a different mining pool at anytime.