Which Ethereum pool is the most profitable? Which pool should we use for Ethereum mining? In this article on the Shetcoiner site, we want to consider one of the most important topics about Ethereum mining which is effective in your profitability; So stay with us until the end of this article.
What is an Ethereum mining pool?
Ethereum mining pools are groups of miners who have come together to increase their chances of mining an Ethereum block. Pools differ in how they pay miners, the fees they charge and the overall support they provide. When you mine with a pool, your chances of earning a steady income stream increase dramatically. If you mine a block, solo mining may reward you more, but the chance of mining a single block alone is very low. In the following, we will examine the things that are very important in choosing a mining pool. So please stay with me.
What are the most important factors for choosing a pool?
- Pool size
The bigger the pool, the better chance you have of finding a block. However, the amount you receive will likely be less.
- Costs
In general, pools charge between 1% and 3% of their miners’ various fees, including structure management fees. These fees are usually related to blocks that have been legally mined and have not ended up in the Ethereum blockchain, because another block to the reason for the delay is accepted in the network. It is interesting to know that this is similar to orphan blocks in Bitcoin, but unlike Bitcoin, in Ethereum there is also a reward for mining these blocks.
- Types of payments
Regarding payments, you should also know that its types can be calculated in ways such as: PPS, the abbreviation of Pay-Per-Share, by dividing your mining power by the total mining power of the global network. In the following, we would like to introduce you to the best Ethereum mining pools.
What are the best Ethereum mining pools?
- Etheremine
Etheremine is one of the Ethereum mining pools that has the highest hash rate. More than 30% of the computing power of the Ethereum network belongs to this pool which shows how eagerly miners choose it. Unfortunately, this carries the risk that if a miner owns more than 50% of the processing power of a given cryptocurrency, it poses a real threat to the network. On the other hand, Etheremine has a good performance and its initial commission is 1%; Meanwhile, miners receive 100% of the profits from MEV. The higher the hash rate, the higher the chance of MEV, so Ethermine performs well in this way. Servers are located in several locations around the world and withdrawals are made possible by miners via the Ethereum and L2 Polygon networks.
- F2pool
F2Pool accounts for approximately 15% of the Ethereum network’s hash rate and is used by miners worldwide. Ethereum is only one of the crypto currencies that this pool supports. The website is well designed and a mobile app for Android and iOS is also considered. Unfortunately, F2Pool usage commission is 2%, but the good news is that it is the same for MEV profit which is not the case with many mining pools.
- Sparkpool
SparkPool is currently one of the largest Ethereum mining pools on the market. This pool uses the PPLNS system and has a minimum payout of 0.1 ETH with a 1% fee. There are many other pools, but you should note that factors such as the security and credit of that pool are very important and guarantee whether you will earn from that pool or not.
Conclusion
In this article on the Shetcoiner site, we have investigated the concept of the pool. In addition, we have introduced you mining pools that are used by many miners and have a high reputation in the field of mining. Don’t forget to check its conditions and security when choosing a pool and the number of miners who use it.
