Binance Pool is currently ranked 6th in the list of LTC mining pools with 12,2 EH/s

​Binance has announced the creation of a mining pool for Litecoin and Dogecoin mining

10.11.2021 - 11:30

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1 min

What’s new? The Binance cryptocurrency exchange has announced the launching of a Litecoin and Dogecoin mining pool. The company announced this on its Twitter account.

Which method is chosen for Litecoin? For LTC, experts have chosen the PPS (Pay Per Share) model. Following such a scheme, a participant receives a fixed amount for each “share” sent. The “share” is a hash, which is used to track the work of the miners.

Which method is chosen for Dogecoin? The PPLNS (Pay Per Last N Shares) model was chosen for the second asset. In this case, a reward is paid when the pool successfully mines a block. Depending on the contribution to the pool's total hashrate and taking into account the operator's commission, the value of the reward is generated. For example, if a pool's capacity is 100 EH/s, and a user's device has 10 EH/s, then 10% of the reward goes to him.

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Author:

Tatiana Darda Tatiana Darda

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