Antpool Key Points
- Antpool is one of the largest cryptocurrency mining pools in the world.
- It was created by Bitmain, a leading manufacturer of ASIC mining hardware.
- Antpool supports mining of Bitcoin, Litecoin, Ethereum, and other cryptocurrencies.
- It uses a Pay-Per-Share (PPS) and Pay-Per-Last-N-Shares (PPLNS) model for rewarding miners.
- Antpool’s servers are distributed worldwide to ensure stability and low latency.
- It offers transparency to miners and allows them to customize their mining settings.
Antpool Definition
Antpool is a cryptocurrency mining pool operated by Bitmain Technologies Ltd., a Chinese company that also manufactures ASIC mining hardware. It supports mining of multiple cryptocurrencies and provides miners with a reliable and transparent platform to earn block rewards.
What is Antpool?
Antpool is a mining pool where individual miners contribute their computational power to solve complex mathematical problems, which are necessary to add transactions to the blockchain. By combining their resources, miners in the pool increase their chances of finding a block and earning the associated cryptocurrency reward.
Antpool facilitates this process and distributes the reward among all contributing miners, according to their input.
Who Operates Antpool?
Antpool is operated by Bitmain Technologies Ltd., a multinational semiconductor company with strong focuses on cryptocurrency-related services and products. Bitmain is also one of the leading manufacturers of ASIC (Application Specific Integrated Circuit) hardware, which is widely used in cryptocurrency mining.
When Was Antpool Established?
Bitmain launched Antpool in 2013, during the early years of cryptocurrency mining. Since then, it has grown to become one of the largest and most popular mining pools globally.
Where is Antpool Located?
Antpool is operated by Bitmain, which is headquartered in Beijing, China. However, Antpool’s servers are distributed globally to ensure the stability of the pool and low latency for its users.
Why is Antpool Significant?
Antpool is significant due to its large size and wide support for various cryptocurrencies. It helps decentralize the mining process by providing an accessible platform for individual and small-scale miners.
Furthermore, Antpool’s transparency and customizable mining settings make it a popular choice among miners.
How Does Antpool Work?
Miners in Antpool contribute their computational power to the pool to solve complex mathematical problems. When the pool successfully mines a block, the reward is distributed among the miners according to their contribution.
Antpool uses two methods for reward distribution: Pay-Per-Share (PPS) and Pay-Per-Last-N-Shares (PPLNS). PPS offers a set payout for each share of work a miner contributes, while PPLNS rewards miners based on the last N shares, creating potential for higher rewards but also higher risk.
