Decred Mining Pools

The Decred cryptocurrency is an altcoin created by a team of developers who previously worked on Bitcoin. This coin combines the strengths of BTC, but it solves the problem of block scalability.

The DCR network combines Proof of Work and Proof of Stake algorithms, maintaining balance. This hybrid system is not unique; it is also used in other tokens. The combination of the two algorithms prevents organized groups of users from dominating the flow of transactions and making changes to the project without taking into account the community's opinion.

The Decred network differs from many other cryptocurrencies by focusing on community contributions to the site's development, open governance, and stable funding. Holders of a sufficient number of tokens act as shareholders, voting to introduce new options and capabilities into the project.

You can mine coins at dcr pools using simple video cards, so even ordinary users who do not have special equipment can engage in mining, as when mining Bitcoin or other tokens.

Calculate DCR Pool Mining Profits

Decred cryptocurrency is mined simultaneously in two ways: PoW and PoS. Accordingly, you can mine this coin using computing power or simply store the DCR in your wallet without purchasing and configuring special equipment. PoW mining of this cryptocurrency is carried out using the Blake algorithm.

You can use the latest generation video cards from NVIDIA and AMD to mine this digital currency. You can find out the approximate performance of popular video cards at standard settings and using the Ultramining service. On the same site, you can calculate the approximate profitability of mining on certain video cards by selecting the appropriate algorithm in the Decred mining calculator.

DCR Mining Pool - General Information

A Decred mining pool is a server that divides the large and complex task of calculating a block signature into smaller and simpler tasks and distributes them to connected devices.

Accordingly, the computing power of pool participants is combined to solve this big task, which significantly increases the chances of finding a block. Each miner, solving the task assigned to him, contributes to the overall task solution. When miners manage to find a block by joint efforts, they receive a reward, which is subsequently shared among all pool participants in accordance with their contribution to the solution of this complex task.

How to Choose the Best DCR Mining Pool?

If you decide to try cryptocurrency mining, even if you don't have powerful hardware, one of the decisions you need to make is to join a DCR pool. Here are some tips for choosing the group you want to join to increase your earnings.

Besides reputation, one of the most important factors when choosing a Decred mining pool is its size. The general rule here is the best.

The two factors that determine a pool's size are the number of connected miners and, above all, the pool's mining speed. Small groups with few miners and low hash rates are no more profitable than solo mining.

The minimum payout is also an important factor when choosing a dcr mining pool. If it's a small mine with a high minimum payout, it could take months to reach it.

Best Decred Mining Pools

ASICs have long-controlled mining; the use of video cards is unprofitable. In the past, DCR coins were mined on GPU in dual. Claymore's Dual Ethereum AMD+NVIDIA GPU Miner allows you to set up parallel mining of DCR and Ethereum cryptocurrency. However, with the current difficulty of mining using the Decred algorithm, the video card will earn no more than 0.01 monthly coins. Ethereum hashrate will drop by about 10% and the power consumption and temperature of the card will increase. Therefore, it is possible to profitably mine DCR only on ASICs.

The coin is mined on collective mining servers. The most powerful pools:

• poolin.com
• f2pool.com
• antpool.com

These resources account for 90% of production. The Ultramining website has a complete list of active Dcr pools.

Decred's Proof-of-Stake algorithm works in the following way.

The token holder buys a ticket and places it in the lottery pool, and PoW miners include it in the block. No more than 20 tickets can be placed in one block. With many participants, the process will take some time; the wait can be shortened by paying additional commissions.

Once a block is signed, the ticket goes into the immature category and is out of the lottery pool until the next 256 blocks in the chain are created.

The ticket joins the pool and waits until it is chosen to confirm the block. The ticket's maximum validity period is 4 months, and its chances of making a profit are 99%.

To participate in PoS-mining, keeping the computer on all the time is not necessary. You join the betting pool, and as soon as the ticket is selected, you will be rewarded. Assets frozen for ticket purchase will be unlocked, and you can use them at your discretion.

Solo DCR Mining or DCR pool Mining?

Unlike DCR solo mining in a pool, participants jointly solve the problem of finding a valid block. The pool participants' powers are combined, significantly increasing the likelihood of solving the problem. In this case, the pool as a whole receives the reward and then distributes it in proportion to everyone's participation. It does not matter whose equipment produced the required ball. Its owner receives remuneration on a general basis.

The main advantage of mining in a Decred mining pool is a stable income from the use of equipment. If a solo miner does not find a block, for example, within a month, he has to cover the equipment's maintenance, maintenance, cooling, and power supply from his own funds. At the same time, when mining in a pool, the reward received would be enough for him to cover current expenses and partially compensate for the cost of equipment (as of September 2023, when mining Bitcoin - from 1/6 to 1/12, depending on the chosen pool, electricity tariff, and other costs). If the equipment had already paid for itself, mining in the pool would provide a net profit.

Conclusion

You can mine Decred using the PoS method either independently through the official cryptocurrency wallet or with the help of pools, delegating the management of your funds, tickets, and votes to them. Mining as part of a pool allows you to constantly receive rewards without waiting for the system to select your vote to confirm the block.