12/04/2019
Mining pools: How to boost mining income
Mining on your own is not profitable
Solo-mining is gradually disappearing, and pooling in mining networks is getting more popular. But why is it so difficult to mine on your own and how to increase the income?
Cryptocurrency complexity
Many cryptocurrencies have a limited emission capacity: for instance, only 21 million bitcoins may be issued, and not even one more. To slow down the emission capacity depletion, currency developers complicate mining artificially. The more people mine the coin and the higher is the performance of their hardware, the higher is the complexity and the less is the reward for the miners. The complexity of popular coin mining is growing: for example, the bitcoin’s complexity has increased 6-fold in just two years.
Why we chose bitcoin
Formally, this is far from the bitcoins that the CryptoTab users are mining. The browser’s smart mining algorithm switches among different cryptocurrencies, depending on which one is more profitable to mine at the moment. This provides the maximally profitable mining. Then the cryptocurrency mined is converted to BTC. It is the most popular and secure coin, which is not likely to depreciate or leave the market. Therefore, we keep and transfer funds in bitcoins.
Mining-pool: the more the merrier
Cryptocurrency "mined" by miners is the reimbursement for calculating blocks of information. The reward is not secure: only the miner who signs the block, i.e. completes its calculation, gets reimbursed. Other participants may get nothing, even if their contribution was greater.
Due to the high complexity and lack of guarantees many do not mine alone anymore. Nowadays the most popular coins are mined by joint pools of miners. A mining pool has way more chances to complete a block than a solo miner. Also, the reward is distributed among all the participants rather than given to a single fortunate one. Thus, the income in a mining pool is higher and steadier under the same load.
Develop you own mining network
Starting up a mining pool is like launching a business: you need knowledge, skills, money and luck. However, for the CryptoTab users everything is much easier. You do not need any developers, hosting and high-performance hardware: we have already solved technical issues. All you need is to invite as many participants as possible. You will earn your interest on every active miner.
The CryptoTab network may include up to 10 levels: the users invited by you will lead other participants, who will involve the tertiary ones, and so on. Even a small-sized network will increase your income manifold as compared to solo mining. Taking the effort once and bringing more people would be enough to get your interest for a long time.
CryptoTab Browser is a special web browser with built-in mining features. Familiar Chrome user interface combined with extremely fast mining speed. Mine and browse at the same time!
