The Intense Team is happy to announce we recently went live with Venthos’ (ITNSpool.net Admin) public PPLNS pool software revisions and support.
What is Pooled Mining?
Pooled mining “pools” all of the resources of the clients in that pool to generate the solution to a given block. When the pool solves a block, the coins generated by that block’s solution is split and distributed between the pools participants.
Pool Mining Pros:
• Pooled mining generates a steadier income.
• Pooled mining can generate a 1-2% higher income (before fees, if any) due to long polling provided by the pools.
Pool Mining Cons:
• Pool mining can suffer interruptions from outages at the pool provider.
• Pools are subject to DOS attacks and have other downtimes, too. Backup pools and solo mining can be configured for these cases.
• Pooled mining tends to generate a smaller income due to fees being charged and transaction fees not being cashed out.
• There are zero fee pools. Until now, transaction fees are not cashed out by any pool.
• Pools might be part of attack scenarios.
Getting Started with an Intense Mining Pool: http://intensecoin.com/pool/#getting_started
What is PPLNS?
PPLNS is an acronym for “Pay Per Last N Shares”.
It is a way of determining how many crypto coins you receive for your shares completed. This method of calculating payouts includes a small “luck” factor. Using PPLNS your payout per share will have a large range (30% more or less on your payouts), but on average, PPLNS earns more than PPS (“Pay Per Share”).
The current proportional reward system is round based. One round is the time between the first share after the last found block and the share which solves a block. PPLNS however means that we no longer consider valid shares of one round, but we consider a number N of shares, no matter if they’re apart of the round or not.
Below is an illustration of PPLNS. One round has an arbitrary number of shares which is solely based on sheer luck. On proportional reward system only shares of one round are considered for calculating rewards. However with PPLNS, a quite constant number N of shares is considered for calculating rewards. This number N changes only with the difficulty.
The number of shares needed to solve a block within a round is different. Round one and three needed (difficulty * 2) shares to be solved. Round two and four are quite short rounds. There were less than (difficulty * 2) shares necessary to solve them. Round five however is a very long round which means the pool needed more than (difficulty * 2) shares to solve the block.
From this follows that:
Rounds one and three are like proportional rounds. All of your shares from the given round are considered for reward calculations
For rounds two and four, shares from the previous rounds are considered for calculations as well (marked green). In other words: regardless of round boundaries we always consider the last (difficulty * 2) shares. Your portion of the amount of shares is used to calculate your reward.
Round five however is very long. In this round your lowermost shares (within the marked red part) are silently dropped if they are not within the last (difficulty * 2) shares.
Why do we need to switch the reward system at all?
PPLNS favors constant and/or occasional loyal pool members over pool hoppers. As you might have seen, each time we find a (Intense Coin) ITNS block the pools hashrate peaks instantly. This is due to pool hoppers starting to mine. They are betting for a “quick win” (like round two above) with low shares per round. If the round exceeds a certain amount of shares they “hop” to another proportional pool which started a new round more recently. This assures better rewards for pool hoppers over occasional or constant miners which are loyal to their pool.
Pool hopping however implies that pool hoppers need to know when a round is started and how much shares are considered for reward. This is very easy with proportional reward system. While using PPLNS, this is no longer true. On long rounds (like round five above) the pool hoppers shares won’t be considered for reward calculations in favor of loyal miners. This is due to the fact that pool hoppers only mine on the beginning of rounds. On short and normal rounds pool hoppers won’t lose their shares. Due to the fact that shares from previous rounds from loyal miners are considered twice (or even more often on extremely short rounds) the pool hopper won’t get the same reward as from proportional reward system.
Does a pool operator earn more from PPLNS?
Short answer: No. As a pool operator it doesn’t matter at all which reward system is used.
Mining Pool Statistics: https://pool.intensecoin.net
• Hosted on Google Cloud platform and can be upgraded within minutes, very stable pool!
• DDoS protection from Google.
• Monitor your mining rigs with workerIDs. Just add workerID as password in your miner.
• Minimum payment of 1 ITNS
• Fixed difficulty supported by adding .difficulty to your address
• RBPPS payment method
• Payments sent out every 30 minutes.
• Support from experienced administrator
New Features Coming Soon:
• Custom minimum payment threshold
Image and Information Source: Give Me Coins