What is Bitcoin Mining Pool?

Mining Pool
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Mining rewards will be paid to the miner who discovers the solution to the puzzle first, and the probability of the participant becoming the solver is equal to a part of the total computing power on the network.

Participants with a small amount of computing power have a very small chance of discovering the next block by themselves. For example, a mining card that can be purchased for several thousand dollars only accounts for less than 0.001% of the network’s mining capacity. Since the chance of finding the next block is so small, it may take a long time for the miner to find a block, and the increase in difficulty makes things worse. Miners may never recover their investment. The answer to this question is the mining pool.

The bitcoin mining pool is operated by a third party and coordinates the miner group. By working together in a mining pool and sharing spending among all participants, miners can get a stable stream of Bitcoin from the day they activate the miners.

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