Okex Mining Pool Review
Okex - Leading Mining Pool with 11 Assets
Mining in a pool is more profitable than solo mining due to network complexity. Solo mining is only profitable if you have significant computational power, while with just a couple of ASICs or 1-2 rigs, you can only mine less popular digital coins.
Therefore, miners find it more advantageous to join pools. These platforms allow combining resources for block mining, reducing dispersion, and increasing chances of earning consistent profits on cryptocurrencies. One of the best pools for mining coins through hash power cooperation is Okex.
Key Features of Okex Pool
The Okex mining platform was registered in the Seychelles in 2018. Okex is a pool of the OKX exchange. The platform stands out for its high level of security and prompt assistance to pool participants.
On Okex, you can mine coins such as:
- Ethereum Classic.
This cryptocurrency mining pool serves accounts with commissions depending on the type of coin. For servicing Bitcoin, the pool charges a 4% commission, while for other coins, the rate is 2%. There is no need to make an initial contribution to start mining on the platform. In terms of hash rate, Bitcoin currently leads on the pool, but most miners compute Ethereum on Okex.
Security of Mining on Okex
The platform provides miners with real-time statistical data. The pool guarantees workers:
- Security and stability - Okex has a unique architecture and operates on modern technologies that ensure efficient mining protection and stable equipment operation;
- Openness and flexibility of the pool - the platform uses the PPLNS model for profit calculation, miners receive profits daily, and can monitor income in real-time;
- Global presence - the pool is created and managed by a team of technical specialists, using nodes in different parts of the world and providing reliable and high-quality round-the-clock support.
Okex Pool operates on supported algorithms:
- SHA-256 - a secure hashing protocol with 256-bit output data size;
- Etchash - Ethereum Classic blockchain operates on this heavyweight consensus protocol;
- Scrypt - Litecoin coins are mined using this adaptive cryptographic algorithm;
- Blake256 - an improved version of the SHA-256 algorithm, used to mine one of the most popular cryptocurrencies, Decred.
Okex operates on the Proof of Work (PoW) mechanism, an algorithm that protects the pool from abuse of services and prevents DoS attacks on the computing system.
Reward System on Okex
Okex Pool uses only one profit distribution model among workers - PPLNS. This method involves sharing profits based on the amount of invested power that the miner contributes to the group. The model consists of a shift system, which is based on time or the number of shares submitted by the worker to Okex.
The pool can find blocks in overtime or sequentially, resulting in significant fluctuations in profit, which affect payouts. When multiple blocks are mined daily by the pool, the worker receives good profits. If no blocks are computed within a day, the income is zero. Payouts vary when miners join or leave the pool.
Advantages of the PPLNS Model:
- Stability of profit receipt - each miner's shares are not reset when moving to new rounds, so incomes are more stable, and workers do not expect a decrease or complete absence of profit due to the duration of the round;
- Long-term income - thanks to low fees and transparency of work in the pool using the PPLNS method, you can earn more than with other payout systems when evaluating the pool over a long period of time.
In the mining industry, earnings depend too much on luck, but with a solid number of blocks and enough time for their computations, profits will roughly correspond to expectations.
How to Mine on Okex
To join the Okex crypto community, you need to go through several steps:
- Clear your PC. To connect mining equipment, you need a separate computer. There should be no unnecessary information on the hard drive. Unused applications should be removed from the PC, automatic OS updates should be disabled, and memory size should be increased.
- Create a wallet. To receive pool payouts, miners must have a cryptocurrency wallet. The optimal solution is to download the client from the Okex website.
- Set up applications. To connect to the pool, you need to install special mining software and configure its parameters - cryptocurrency, wallet address, its number, or port number.
- Register. You cannot work anonymously on Okex, only after registration. It is enough to fill out the registration form, and the miner will receive an account.
Joining a miner to Okex is an opportunity to mine popular coins with good capitalization and earn stable income. The platform's transparency and worker security enhance trust in the pool and expand the network of workers worldwide, increasing each one's profit both currently and in the long term.