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Best declared pool options in 2019

Decred is a unique crypto. If you want to generate your own DCR coins, you need to know that there are several decred pool options to choose from.

Decrees overview

decoded logoDecred (DCR) is a blockchain-based cryptocurrency that uses decentralized governance that ensures the network operates autonomously, but with miners and coin holders voting on and making improvements.

Decred was derived from the Bitcoin protocol, which means that it has inherited several functions from its parent coin. Decred launched its mainnet on February 8, 2016.

The crypto differs from other cryptocurrencies in terms of mining protocol as it uses both the Proof of Work and Proof of Stake consensus algorithms of Bitcoin.

Proof of work mining algorithms are getting more and more difficult, and as blocks are generated more slowly by this protocol, more and more people have been looking for the Decred Proof of Stake Mining Pools (Stake Pools) to generate new coins.

Every 5 minutes, proof-of-work miners create new blocks that release new decred coins into the network. This block reward is divided into three parts: 60% will be given to the PoW miner who discovered the block, 30% will be distributed to the PoS voters in that block (6% to each of the 5 voters) and 10% will be given to these award development finance.

The block reward was originally set at 31.19582664, and every 6,144 blocks (approximately 21.33 days) this reward is reduced by a factor of 100/101. The stakers thoroughly check the blocks mined by PoW to verify that they are spelled correctly. They each receive 6% of the block reward for their work.

PoS voting rights are given through tickets that can be bought in the wallet and the price is calculated by an algorithm that keeps the difficulty of the protocol at the same level. This means that the price of the tickets increases as more people participate in PoS votes.

Mining pool factors

There are several factors to consider when looking for options for a declared pool. Most of these criteria apply to almost all mining basins, but some are more favorable in certain aspects.

  • Fees: Most mining pools charge between 1% and 2%, but you can find some that have higher or lower fees for their services.
  • Server location: It is recommended that you choose a pool whose servers are physically close to your geographic location because you will have better availability and hash performance, which in turn will lead to better mining results. Most of the pool mining servers are located in Asia, Europe, or North America.
  • Supported Algorithms: Since Decred was created by forking Bitcoin, its mining algorithm is based on the SHA 256 algorithm. Therefore, ASIC miners can also be sued for mining DCR. Decred can be mined through PoS so you can search for these types of pools as well.
  • Reputation: Smaller pools are usually more recommended in terms of decentralization. However, you should check the opinion of the community that the pool is trustworthy and offers payouts to its users.
  • Hash rate: Pools with higher hash rates have a higher chance of generating cheaper profits.
  • Payout system: Decred mining pools have various payout systems such as: B. Maximum Salary Per Share, Pay Per Share, Stock Based, Earnings Based and many others. Choose the one that best suits you.
  • Pool availability: Pools with 100% availability are the most recommended.
  • Minimum Withdrawal: With lower withdrawals, you can withdraw your earnings much faster.

Decred PoW pools

Below are some of the best Decred pool options for PoW mining:

Suprnova

Suprnova logoSuprnova is one of the largest decred mining pools that supports the mining of 4 dozen different coins in addition to DCR. The servers are located worldwide. Suprnova rewards its miners through a proportional (prop) payout system and does not charge any fees.

CoinMine

CoinMine logo

CoinMine is a unique pool as miners can mine anonymously through their dedicated dashboard without users having to log into the platform. The pool uses the PPLNS payment system to reward its users. It also doesn’t charge any fees and servers distributed in different regions around the world.

The minimum payout amount is 0.1 DCR. This means that you will not receive your income until you have exceeded this amount.

Luxor mining

Luxor Minig LogoLuxor Mining recently launched its Decred Pool which offers a 1% PPS program. You currently have four servers that you connect to two in the US, one in Europe, and one in Asia. Luxor has a global network of servers that ensure optimal hash rates.

F2pool

F2Pool logo

F2Pool is a Chinese mining pool that is one of the oldest operating mining pools. Of all the declared pool options, F2pool supports most cryptos, including BTC, LTC, ZEC, ETH, ETC, SC, DASH, XMR, XMC, XZC and XVG. The pool also supports merged mining for Namecoin (NMC) + Syscoin (SYS) for BTC mining and Dogecoin (DOGE) for LTC mining.

The reward is 3% through PPS or PPS +. The fees range from 2% to 3.9%, which makes this pool one of the most expensive on our list.

When you have earned more than 0.1 DCR, you can withdraw your mined coins.

Decred stake pools

A stake pool delegates your voting rights to a third party (the pool). This is great for people who want to vote with Decred’s proof of stake consensus but can’t because they either can’t constantly unlock a wallet or they don’t have a stable internet connection.

In order to be able to participate in the voting on the deployment record and the deployment pools, you must have the following:

  • a wallet to aid in voting on the stake pool;
  • sufficient DCR to buy the ballot.

The two wallets that support voting on the stake pool are:

  • Decrediton – GUI Wallet for Windows / MacOS / Linux;
  • dcrwallet – CLI wallet for Windows / macOS / Linux.

Note that the DCR amount required to purchase a ticket can go as high as $ 3,000.

PoS Decred Pool Options

Stakeminer – has more than 17% of the network votes and its fees are set at 1%.

Ubiqsmart – The pool has around 400 users and a fee of 0.95% in the absence of a 0.5% vote quota.

Stakepool – Has more than 7% of the network votes, with a 2% VSP fee and a 0.05% chance of missing stake votes.

UltraPool – a Europe-based pool of over 500 users with a 1% fee and a low 0.08% missed vote rate.

Stakeynet – This new pool has less than 200 users, a 1% fee, and a very low 0.05% miss rate.

Conclusion

With that we conclude our article on the best options for the Decred Mining Pool for both Proof of Work and Proof of Stake Mining. We hope this has helped you and your DCR mining efforts.

Selected image: cryptobit.media

Note: The information in this article and the links provided are for general informational purposes only and should not constitute financial or investment advice. We encourage you to do your own research or consult a professional before making any financial decisions. Please note that we are not responsible for any loss caused by information on this website.

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