Pool Terminology - New York & Puerto Rico Bitcoin Mining Pool

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Pool Terminology
 

Round     
Round is the time period between two blocks found by the pool. It can last from few seconds to many hours, depending on pool's luck.
    
Miner     
Miner is your physical mining device. In the  past, it was possible to mine on a graphic card or even just a CPU.  However, the performance of the Bitcoin network (the hash rate of all  miners) is so high nowadays, that using such a miner would not even pay  back its costs.
        
ASIC based miners offer a significantly higher Hash Rate at a lower power consumption.
         
Worker     
Worker is a name for your mining device that you use as a login for your mining software.
We recommend to give a designated worker name to every mining device. That way you can track down a faulty miner easily just by looking at the monitoring sectionour profile page.
        
You can as well run all of your miners under a single worker name  and everything will be just fine. The downside of this approach is that  if one of your miners does not work correctly, you will see a drop in  your hash rate, however, you will not be able to determine which device  it is.
    
Hash rate is the number of hashes generated per second.         
You will mostly observe the hash rate of your mining devicein  our statistics. However, you might also come across the “hash rate of  the pool” or the “hash rate of the entire Bitcoin network”.
There is a difference between a nominal hash rate shown in the manual of your mining device and an effective hash rate shown in our system. It is important for you to understand the difference between these two.
         

Nominal Hash Rate
The nominal hash rate of 1 Gh/s means that your  device is capable of generating 1 billion hashes per second - no matter  if they match any criteria.
         

Effective Hash Rate
The effective hash rate is a hash rate calculated from hashes submitted by your device to our pool. Only a small portion of generated hashes by your devices get sent. They must fit certain criteria assigned by the pool (see: Shares).
Most of the times, the effective hash rate will be somewhat lower than the nominal hash rate.
        
Your effective hash rate depends on the luck of  your mining device and the quality (stability) of your connection to the  pool server. If you have experienced connection issues, then your  effective hash rate will be lower than the nominal hash rate in that  period of time.

Occasionally, you can be more lucky and find  more valid hashes than usual. That is what gives you a slightly higher  effective hash rate.

Scoring Hash Rate
Scoring hash rate is a value derived from effective hash rate used for rewards calculation. Please, see Reward System for the explanation.
    
Share - Proof of Work     
    
Share is a unit which pool uses for computing mining work.
        
When a miner connects to the pool it receives  computational task to be solved - it computes hash values with certain  properties (they must be lower than the limit derived from difficulty).  Hashes satisfying the requirements are sent back to the pool and are  used as a proof of miner's work. The quantity of miner's work is registered in units called shares. If a hash (proof of work) with difficulty \(d\) is submitted by a miner then \(d\) shares is counted by the pool.
        
To put it as simple as it could be:
             
  • 1 share = 1 proof of work on difficulty 1
  •             
  • 5 shares = 1 proof of work on difficulty 5 (or 5 proofs of work on difficulty 1)
  •             
  • 100 shares = 10 proofs of work on difficulty 10 (or .. you can see the pattern)
  •         
Vardiff (Variable Difficulty Algorithm)     
(Please, have a look at how shares are being produced before reading on.)
        
There are big differences in hashing power of  different miners. To optimize network traffic between your miners and  the pool we have introduced the variable difficulty algorithm (or  vardiff). It assigns more difficult tasks to stronger miners (higher  difficulty) and easier tasks to weaker so that an average communication  frequency is roughly the same for all miners.

Vardiff assigns exactly so much work to each miner that allows it to send results back to the pool 16 to 20 times per minute.  Why 16-20 times? According to our measurements, this is the ideal  frequency that allows a balanced data load to our servers and correct  measurements of your miner's hash rate.
        
If your miner is too fast, Vardiff increases the difficulty for its work and when too slow, the difficulty decreases.
        
For example, a difficulty of 20 means, that you  will find 20 times less hashes satisfying the requirement, but you will  be given 20 shares per each submission. Hence you will not lose any  share and the network does not get jammed.
    
Alert Limit     
This value is used as a hash rate limit for checking whether your device works properly. If the effective hash rate of a worker is greater or equal to Alert Limit, everything is perfect and you will not receive any monitoring alert reports.
However, sometimes it can happen that effective hash rate drops below the Alert Limit.  If your monitoring is enabled you will be notified by an e-mail and you  can start acting accordingly. Such behavior is mainly caused by the  following reasons:
  • Mining software does not accept difficulty assigned by our pool
  •             
  • Internet connection is not stable
  •             
  • Your mining device might have a hardware problem (e.g. overheating)

How to set the alert limit
  • Let the pool automatically compute Alert Limit for you. It is done once in 5 minutes and the value is set to 70% of hash rate average from the last 24hours.
  •             
  • Set it manually to any value from 0.5 Gh/s to e.g. 100 Ph/s or more.                 

We recommend to set it 30% below the value of your expected effective hash rate.
E.g. you expect your miner hash rate to be 1 Ths/s, the Alert Limit would be set to 700 Ghs/s.
                          
Luck     
Pool luck explains how many shares the pool needed to find a specific block in comparison to the average number of shares needed for finding a block.
              
  • If the luck is above 100% it means that the pool needed less shares than expected for the given difficulty.
  •             
  • If the luck is below 100%, more shares than average were needed.
      
E.g. if the luck is 200%, the pool found two times more blocks in the given time period than average.
        
Please, keep in mind that luck only describes the history but says nothing about the future blocks.  Finding a block is fully independent from historical events. That is  why joining the pool when the luck is high and disconnecting when the  luck is low does not make any sense. In the long run, the luck is always  100%.
    
Stale Rate     
Stale rate is number of shares submitted after  the old block has already been found and pool has moved to the next  block. If everything works correctly, it should be a very low number.
Several factors can increase your stale rate:
         
Network Latency
On slower networks (or when there is a network  issue on the path from your miner to the pool), it takes more time for a  miner to receive notification about a new block. However, the miner  still keeps submitting results to an old block for some time and these  are being rejected by the pool as stale shares.

Slower Mining Device
Some miners are like men. They only handle one  task at a time. Before taking on a new job, they need to finish the  previous one. While others are generating shares for a new block  already, these miners are producing shares for the old block that cannot  be accepted by the pool anymore. Such results are also called stale shares.

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