Ethereum Mining Pools Reviews

The hash rate distribution is perhaps the easiest way for novices to choose the best ETH mining pool. It’s essentially the speed at which the node operates, in order to successfully mine a block. So, higher hash rate means more mined blocks and higher income. I should also mention that you’ll be splitting the rewards with the rest of the miners, so it’s important to choose the most rewarding and cost-effective Ethereum pool for you.

Here you can see a list, showing the top 5 Ethereum mining pools in comparison, as well as their market share, server locations, reward systems and fee rates.

There are several factors you would need to look out for. The hash rate of the pools is important for a stable income – the higher the hash rate, the more likely it is for your pool to solve a block, so all users can receive a reward. If you are wondering how to choose the right mining pool, I would recommend you choose a pool that has a server near you. The closer your mining rig is to the server, the lower the latency would be. You can test this by checking how high your ping is to the mining pool’s IP address.

Also, take some time to consider the payoff you are going to get. Ideally, you would choose the pool with the most stable and frequent income and the lowest fees. Check the mining pools reward system guide for more information about the differences in the reward systems.

Mining Pools Without Registration

This is what’s interesting about mining pools. Optionally, if you don’t wish to provide an email address given any reason, you can just choose a pool that does not require a registration. I’ll explain more, but first, here are some suggestions for free-of-registration Ether mining pools as well as the necessary data for you to join them immediately:

If you’re still not sure how to join a pool without registration, here are the steps you need to follow. Ethereum is mined with GPUs as it’s the most efficient miner for the coin’s algorithm. After you have downloaded the GPU software (Ethminer, Wineth), run it and use the easy quickstart configurations for each pool.

Simply copy and paste the data from our article to the ETH “mining pool URL” field in your gear setup software. This way, your rigs will be indirectly connected to the pool. You need to check if you are visible for the mining pool, so you can participate in the mining and get rewarded.

You can calculate and see how profitable could be if you join an Ethereum mining pool. To make that happen, use the profit calculator. All you need to do is enter your currency, hash rate, power consumption, electricity cost and pool fee. After that click “calculate”.

For the cloud miners among you, calculating your profit is even easier. The required parameters are just two – hash rate and pool fee. The calculation is done based on the current difficulty and the current market price. However, please note that the calculations depend extremely on the variable nature of the numbers used.

On the output, you can see your daily, weekly, monthly or yearly roundabout profit. You can also see how much the electricity would cost you approximately and the number of coins you will mine for each time period. When checking your cloud mining profits, you just have to make sure that the profits outweigh the costs, otherwise, it would be a waste of time and money.

Setting up a mining pool is a lucrative task. You can avoid the pool fee and perhaps collect one yourself from your miners. While it’s beneficial for the decentralization of the mining power, it’s also a great responsibility that would require a lot of time and effort to keep up with. It might be a bit difficult, but don’t worry. I made the following list with the minimum requirements to set up an Ether mining pool when using a VPS. In addition to all this, you would also need in-depth Linux knowledge. So, let’s check it out:

Mining ETH, as well as mining any other cryptocurrency, would require powerful hardware and cheap electricity in order for it to be profitable. At the moment, you are more likely to find easier such hardware in China, USA, Japan and the European union, places that have a large number of electronic companies and better internet connectivity speed. A pool itself does not require cheap electricity, however, due to the need of low latency, the ETH mining pools are often close to the mining hot spots.

Centralization of Ethereum Pools

When you look at the distribution of the best Ethereum mining pools you can see that the top five pools mine more than 80% of the Ether blocks. Furthermore, the top three pools mine more than 50% of all blocks. This would suggest that the mining power is rather centralized. However, in reality, mining pools do not use one single big machine to mine and actually use the power of many different independent nodes (i.e. computers). Therefore, all different miners receive their own direct payments. A case of 51% attack (an interference with the mining process by someone who controls more than 50% of the mining hash rate and hypothetically earning all the rewards) could prove to be very damaging to any network. It would take a great number of miners to gather the power to overthrow the network, so it’s highly unlikely for this to happen. Moreover, perhaps miners would choose to protect their income and leave the pool.

Pool Distribution (calulate by blocks)

Pool	Hashrate Share
Ethermine	27.2%
F2pool	17.6
SparkPool	16.1%
Nanopool	12%
MiningPoolHub	10%
Other pools	17%

History and Future of Ethereum Mining Pools

Designed to be an improvement of Bitcoin, Ethereum was first introduced in 2013 and quickly gained popularity. In 2016 Ethereum split into Ethereum and Ethereum Classic, due to a severe hack of the decentralized autonomous organization (DAO) on which the network was running. Out of the Ethereum mining pools, the Ethermine pool has become very successful and widely used. It is always up to date with the network’s updates, having little to none downtime and proving that it can be trusted. It became the most used pool worldwide, having the biggest hash rate and setting a bright future for itself.