P2POOLS
P2POOL
Crypto-Currency Mining Pool
Security
Because information about the P2Pool network, such as share-ownership, block creation progress, and so forth, is stored in the distributed sharechain, there is no single point of vulnerability. No single node can be disrupted in order to compromise the network state. This is a direct benefit of the decentralized design of peer-to-peer networks.
In the event that a node is compromised, there is no mining data to steal or destroy, since all mining shares and payout information related to that node are preserved in the public sharechain. The node operator can reinstall the node, rejoin the network and regain share and state information from the sharechain within minutes.
This means that the P2Pool network and its most important cargo, namely blocks destined for the blockchain, is more secure in the hands of a distributed network than it would be with a centralized network. Compromise of a central node (or nodes) halts all production and the state of the network is destroyed and most likely lost. This is part reason why the Bitcoin network is based on a peer-to-peer model.
With a centralized pool, there is the possibility that the pool's combined hash rate exceeds 50% of the entire network's hash rate. This scenario makes the protocol vulnerable to blockchain manipulation by such a mining cartel, in what has been dubbed the "51% Attack". In contrast, a decentralized mining pool does not impose it's combined hash rate directly on the protocol network, and hence cannot manipulate the blockchain in a fundamental way.
Practically, this means that even if 100% of miners were to use P2Pool, there is no take-over risk to the Bitcoin (or any other cryptocurrency) network. In fact, this scenario would mitigate the risk of a 51% attack on the cryptocurrency network.
Secure, more profitable, easy to use. The P2Pool network is live and well, and pools have been established for almost every cryptocurrency out there. Suitable for beginning miners, seasoned 49s and mining operators, the protocol platform is evolving every day and adoption is growing fast.
POOLS
Crypto-Currency Mining Pool
BITCOIN (BTC)
Algorithm - SHA 256
LITECOIN (LTC)
Algorithm - Scrypt
VERTCOIN (VTC)
Algorithm - Lyra2v2
DASH (DASH)
Algorithm - x11
Feathercoin (FTC)
Algorithm - Neoscrypt
GlobalBoostY
Algorithm - Yescrypt
Novacoin (NVC)
Algorithm - Scrypt
Casinocoin (CSC)
Algorithm - Scrypt
WHAT IS P2POOL?
P2Pool is a decentralized mining pool implementation that provides mining operators with a secure, flexible and highly customizable mining platform. The P2Pool network is made up of interconnected nodes - each node representing a mining operator who is running the p2pool software.
Collectively, nodes are connected in a peer-to-peer network arrangement, much like the Bitcoin network itself. There is no hierarchy of greater or lesser nodes, and network state information is shared between nodes. Because blocks are effectively being mined on different nodes across the network, the P2Pool network is said to be "decentralized". Decentralization a Good Thing for cryptocurrency networks because it enhances security and promotes wider distribution.
A P2Pool node provides connected miners with low difficulty work. Upon completion of each portion of work, the miner is awarded a pool share. Shares are communicated among P2Pool nodes and assembled into a sharechain - just like the Bitcoin network assembles blocks into the blockchain.
Once the pool finds a block, all contributors are paid directly, according to their shareholding as reflected in the sharechain. Payment is issued by the sharechain and without third party involvement.
The notion of 'shares' informs all P2Pool mining production and payment. P2Pool enables all connected miner nodes to combine their hash rates and collectively work on creating a transaction block. Each node earns mining shares according to their percentage contribution. Once the mining pool successfully solves a block, each contributing miner is paid their share of the total block reward and associated transaction fees. P2Pool implements a PPLNS reward system and payment always goes directly to a miner's wallet - not into a central fund or holding account. Because of this transparency and equitability, P2Pool can, therefore, offer node operators immunity to the theft and corruption that clouds centralized pools.
POOLS
Crypto-Currency Mining Pool
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