Shulou(Shulou.com)06/02 Report--

Introduction to the author

JouyPub Technical Manager of an Internet company

Background

   at present, various currencies that earn income from mining, with the passage of time, mining is becoming more and more difficult, if you still rely on a single machine to dig the mine, it is almost impossible, so there is a mining pool. For example, according to the current 20EH/s, a 20TH/s mining machine takes 19 years to reach a block, that is to say, if it takes 19 years for a single machine to get a reward, it does not include machine wear and tear, increased difficulty and other factors, so only everyone joins a mining pool to share their own computing power, and after breaking the block, the reward is redistributed to individuals according to different distribution patterns. This mining model can make individual earnings more stable, and for the mining pool, there will also be some transaction fees.

By the way, let's figure out how many days it takes to dig the mine now. Take the Ant Mine Machine as an example. The computing power of each machine is about 20TH/s, the power is 1700W, the cost is 5000 yuan, and the whole network takes 20EH/s. Currently, the reward is 12.5 bitcoins, worth 45000 yuan, and a block is produced in 10 minutes. Then, without considering the cost of electricity and consumption, the payback time is about 62 days.

10-minute profit of the whole network: 12.5 * 45000 = 562500

Ten-minute profit from a single mining machine: 562500 / 20 / 1000 / 1000 * 20 = 0.5625 yuan

Daily income of single mining machine: 0.5625 * 6 * 24 = 81

Cost recovery time of single mining machine: 5000 / 81 ≈ 62 days

Of course, this is also on the premise that the calculation power is stable, but unfortunately the calculation power is increasing, the difficulty is also increasing, and there are electricity charges, so the actual cost recovery time is more than 62 days.

The trend of Bitcoin Network-wide Computing Power

Note:

H is the unit of computing power: that is, the number of Hash operations per second, 1H = one Hash calculation per second

1KH/s = 1000 Hah calculations per second

1MH/s = 1000KH, 1000000 hashes per second.

1GH/s = 1000MH, 1000000000 hashes per second.

1TH/s = 1000GH, 1000000000000 hashes per second.

1PH/s = 1000TH, 1000000000000000 hashes per second.

1EH/s = 1000PH, 10000000000000000000 hashes per second.

The current mainstream mode of mine pool allocation

At present, the main distribution modes of ore pools are PPS, PPLNS, PROP, RBPPS and PPS+.

PPS mode: Pay-Per-Share

According to the theory, whether you explode the block or not, you will be rewarded immediately. It will estimate the amount of minerals available in the pool every day according to your power of calculation, giving you a basic fixed income every day. This award does not need to be confirmed, you can immediately get your whole pool proportional share value dividend.

This model of mine pool has to bear a lot of risk, it takes a certain strength and calculation of the mine pool to do PPS, and can avoid the behind-the-scenes manipulation of the mine pool operator. This approach reduces the risk for miners, but transfers the risk to the pool operator. Operators can charge fees to make up for the losses that may be caused by these risks.

For example:

Assuming that your computing power is 20TH/s, mining pool computing power 1EH/s, and network-wide computing power 20EH/s, you can dig 1800 bitcoins a day at the speed of the day, then the mining pool will pay you 1,800 pounds, 20 pounds, 1000 pounds, 20 pounds, 0.0018 bitcoins per day, regardless of whether the mine pool can dig up 1800 pounds, 20 pounds, 90 bitcoins or not.

PPLNS mode: Pay Per Last N Shares

The block income is allocated according to the proportion of the number of shares contributed by each person, that is, the distribution of the income of a block is based on each person's contribution over the past period of time. There will be a lag in the benefits of this model, because the benefits will be distributed only when they burst. So in this model, you will obviously feel that when you first join the mine pool, the benefits are significantly less than others, and over time, when new blocks are created, your earnings will be on a par with those of others. Similarly, even if you open a mining pool, the income already generated will still be settled.

For example:

A computing power 10TH/s, participating in the current block calculation for 10 minutes; B computing power 5TH/s, participating in the current block calculation for 10 minutes; and C computing power 5TH/s, participating in the current block calculation for 5 minutes. Then the benefits of the current block are distributed according to the ratio of 1010: 510: 555.

PROP mode

This model is similar to PPLNS. PPLNS distributes the income as soon as the block is generated, while PROP distributes the income only after the block is confirmed. The income of miners has a longer lag, but in the long run, the income of the two models is the same.

RBPPS mode

It is the same as PPS mode, but the reward of dead block and isolated block is excluded, and you need to confirm whether it is dead block. In the absence of dead chunks, the benefits are the same as PPS.

PPS+ mode

This model is the combination of PPS+PPLNS, the income of a block is divided into system reward and transaction fee, and this model divides the two kinds of income into PPS and PPLNS to distribute. For example, if the Bitcoin burst reward is 12.5 Bitcoins, and the transaction fee for this block is 0.5 Bitcoins, then the allocation method is that the 12.5 Bitcoins awarded by the system are allocated according to PPS, and the transaction fee is allocated according to PPLNS mode. Pool handling fee

The handling fee may be different for different currencies, different mining pools and different distribution modes. Due to different distribution modes, the risk borne by the mining pool is also different, the risk borne by the mining pool is high, and the handling fee is also high.

Take the bitcoin mine pool as an example:

PPS:4% or higher PPLNS:1%-1.5%RPOP:1% about RBPPS:1.5-2.5% ore pool malpractice

The existence of    mining pool reduces the difficulty of mining digital currency and realizes that everyone can participate in income distribution. But the drawback is also obvious, contrary to the original intention of the blockchain. Mining pool, has mastered a lot of computing power, and computing power is the right to keep accounts, and computing power is everything. If the individual computing power exceeds 51%, it will be a disaster for currencies such as bitcoin.

Percentage of Bitcoin Mining Pool in recent 7 days

Join the block chain to develop a learning exchange group, and add Wechat to join the group: cdong1024

Wormhole Community: https://www.uzanapp.com/

Welcome to subscribe "Shulou Technology Information " to get latest news, interesting things and hot topics in the IT industry, and controls the hottest and latest Internet news, technology news and IT industry trends.