What is a Mining Pool in Crypto? (Animated + Examples)

What is a Mining Pool in Crypto? (Animated + Examples)

What is a Mining Pool? A mining pool is a way that cryptocurrency miners can win rewards faster by grouping together to split up the block’s rewards.

Instead of having to wait on average 10 days, for example, they could join a pool of 10 people, changing the average wait from 10 days to 1 day. However, they will also have to split the rewards between all the other miners in the pool. If this is confusing, watch the video and you will understand it much better with the stories and analogies included!

Join our exclusive discord community:
https://discord.gg/D7hGbB5AuH

Explore More Whiteboard Crypto:
Facebook: @whiteboardcrypto
Instagram: @whitreboardcryptoteam
Website: www.whiteboardcrypto.com