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Dash Mining Pools

What are Dash Mining Pools and how do they work?

  • 7 March 2021
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Dash Mining Pools refers to the process of searching for solutions to complicated mathematical functions and as a method of generating blocks in Blockchain. Miners can make a good profit in certain periods when electricity is cheap and mining difficulty is low. Miners form a group together to mine cryptocurrencies more efficiently; this group is called a pool. In this way, they have a better chance of getting a digital coin. The largest mining pools are still located in China. You should join a mining pool that has a server near you because it makes it easier to retain low latency, so the mining action can execute easily and be more effective.

Pools are ranked based on the hash power they have. Joining Dash Mining Pools is one of the first steps in mining Dash and other cryptocurrencies. If a person wants to mine coins alone without joining a mining pool, they have a very low chance of making a decent profit unless the hash power is as high as the hash power of a mining pool. That’s why almost everyone who wants to start a digital currency starts by joining a pool. Therefore, becoming a member of Dash Mining Pools has become a must for miners.

An important point to know before selecting Dash Mining Pools is that the X11 algorithm is used in the dash mining process. X11 includes 11 different encryption algorithms. Therefore, GPU is more suitable for Dash Mining Pools than CPU, because GPUs have more power in this field.

Dash Mining Pools

Dash Mining Pools

What should we consider when choosing it?

When choosing any kind of dash mining pools, you need to pay attention to two important factors:

  • The geographical location of dash mining pools and their market share.
  • These figures vary based on the hash rate of the entire network and the conversion rate of BTC to USD.

The main preference is the location of the pool. If the pool is geographically closer to you, it is better and easier to use. This is because sometimes due to network delays, previously mined Dash coins may become obsolete due to the creation of new blocks. Also, you should know that Chinese servers are behind the big Chinese firewall. This means that your connection to these pools can be interrupted or disrupted periodically. Therefore, try to choose the server with the least delay, which is close to your geographical location, in this case, it will bring the most efficiency.

The 2nd feature is the pool market share in the dash mining pools. As a result if a pool has a larger market share, the reward will be higher. This is because, in these pools, blocks are mined sequentially. So bonuses are paid at a fixed rate regularly. This reduces the effect of random block generation. Therefore, we recommend that you find a pool close to your location, with a high market share.

Dash Mining Pools

Dash pools size compared

What are the specifications?

AntPool is the largest mining pool in terms of hash power. The pool is operated by China’s largest mining equipment producer Bitmain.
At viaBTC, you can select a PPS payment system, or they also propose pay-per-last-n-shares (PPLNS), which is a very famous way of payment method at mining pools.

Coinmine is another favorite selection, for miners who are concerned about privacy, because Coinmine lets people mine in a way that prevents a person from being identified by name.

For participating in the best Dash Mining Pools see the specifications of great worldwide Dash Mining Pools as bellow:

Pool

Market share

Location

Reward system

Pool fee

Hashrate Share

Antpool

26

Asia / China

PPS (pay per share)
PPLNS (pay per N shares)

4 – 1

27.09%

ViaBTC

17

Asia / Europe

PPS (pay per share)
PPLNS (pay per N shares)

4 – 2

12.09%

Coinmine.pl

7

Europe

PPLNS (pay per N shares)

1 – 0

7.10%

dash.btc.top

4.7

China

PPS (pay per share)

2 – 0

4.80%

miningpoolhub.com

1

Europe / America

PPS (pay per share)
PPLNS (pay per N shares)

1

2.00%

Is Dash Coin Cloud Mining Profitable?

Since the mining of new Dash Coin blocks is very competitive, miners are trying to reduce costs. Hence, cloud mining is a very expensive and unprofitable option due to its huge costs such as advertising costs and legal costs for ordinary people. The data show that at the same hash rate, the cost of mining in cloud pools is 184% higher than the cost of mining by home systems. Besides, many cloud mining projects have recently been created for fraudulent purposes, so it is recommended to use Dash Mining Pools very carefully.

It is conceivable to utilize a hash rental or cloud mining for Dash. Many hash rental and cloud mining carry out Dash. So it is not necessary to have physical hardware to mine.

Dash Mining Pools

Dash pool hashrate

How are the mining bonuses distributed in the Dash coin network?

As mentioned, the master nodes are the main shareholders and operators of the Dash blockchain network. Like miners, master nodes receive a share of the reward for extracting each new block in the Dash network. So the distribution of rewards in the Dash network is as follows:

  • 45% for the bonus of the miners.
  • 45% for the rewards of the masters.
  • 10% for saving in the Dash network treasury for future development.

As you can see, masters are just as rewarding as miners. If a node wanted to become a DASH master, the Node holder should take 1000 Dash units in the network. Given that the current price of each dash unit is about $ 140, you have to spend a total of $ 140,000 to get the Master nodes bonus.

The task of masters is to provide additional 2nd-layer services to the Dash blockchain network. So these services contain dispatching pre-approved transactions (InstantSend), modifying network security (Chainlocks), and privacy capabilities (PrivateSend).

The 1000 DASHs stuck by the masters in the network are a guarantee for their good behavior. In case of transfer or spending this amount in Dash Mining Pools, the desired master will be offline and the reward will be stopped.

2 responses to “What are Dash Mining Pools and how do they work?”

  1. Herve Fodouop says:

    Good to know

  2. Yanga Jili says:

    Wise info and useful

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