With many different pools out there, it can be hard to know which to pick. In this post, we will explore the top mining pools, and compare the reward methods and fees to ETC Pool.
A full list of ETC pools can be found here: https://miningpoolstats.stream/ethereumclassic
ETC Pool vs Other Top Pools
|Monthly Fee per 1GH||0.07 ETC||0.35 ETC||0.35 ETC||0.35 ETC|
Mining Pool Reward Methods
Pay Per Share: Each share is submitted, gets paid out to miner regardless of blocks being found. This is best for miners that need consistent payments, or drop connections regularly. PPS usually pays the block reward and does not include the blocks transactions fees. Pools charge high fees for PPS due to the risk they are assuming.
Full Pay Per Share or Pay Per Share+: Same as Pay Per Share except that miners get paid the block reward rewards plus the transaction fees of the mined block. Pools charge high fees for FPPS due to the risk they are assuming.
Score: Score reward method uses an algorithm that utilizes a moving average of the actual hash rate with a ramp-up or down period when the user stops mining.
Proportional: Miners are paid for each block based on the percent of shares they submit. This reward method can be useful for miners who drop connections. Prop methods are susceptible to pool hoppers, which can lower profits for honest miners.
Pay Per Last N Shares: Miners are paid when a block is found, based on the amount of shares they summited during the round. Rounds are a specific number of shares and can change depending upon the pool. This reward method is best for long term miners as luck and increased block rewards can boost earnings.
Small Pools vs Large Pools
Small pools help strengthen and decentralize the Ethereum Classic network. Large pools are often flocked to, and perceived as better. This is often not the case. Large pools have been caught many times taking miners funds as donations, and other nefarious actions. Small pools can be held more accountable, they are closer to the community.
How do small pools help decentralization?
Currently the top 4 pools control over 65% of the network hashrate. While ETC is considerably more decentralized than any other alt coin – it is always something to take into consideration when picking your pool.