What is a bitcoin mining pool?

In the most common bitcoin mining pool setup, as explained above, the mining pool operator creates block templates for hashers to perform proof of work on. This means that the mining pool operator gets to decide which transactions are being mined in the block that the entire pool is working on.

What is bitcoin mempool?

Bitcoin mempool is nothing but a pool of unconfirmed Bitcoin transactions. To understand this entirely, you need to first look at the Bitcoin transaction cycle: As shown in the above flowchart, as soon as you do a transaction over Bitcoin’s blockchain, it is not added instantly to the blockchain.

What happens if a bitcoin pool is disconnected?

If they contributed to the majority of Bitcoin blocks 1-6, when a reward was found by their pool in block 7, for which they had become disconnected through no fault of their own, then they are still eligible for payouts depending on the time of N. There are other inventions and variations that have been implemented.

What are altcoin pools?

There also pools that offer the ability to merge mine other SHA-256 coins as well as Scrypt pools that allow you to merge mine other popular crypto currencies such as Dogecoin and litecoin. Over the time, many different payment systems have been developed. Most altcoin pools use the Prop or PPLNS payment system.