|Currency||Symbol||Algorithm||Fee||Share Diff||Local rate||Global rate||Pool||Explorer||Exchange||Github||Website||CoinMarketCap|
P2Pool is a decentralized Bitcoin mining pool that works by creating a peer-to-peer network of miner nodes.
P2Pool creates a new block chain in which the difficulty is adjusted so a new block is found every 30 seconds. The blocks that get into the P2Pool block chain (called the "share chain") are the same blocks that would get into the Bitcoin block chain, only they have a lower difficulty target. Whenever a peer announces a new share found (new block in the P2Pool block chain), it is received by the other peers, and the other peers verify that this block contains payouts for all the previous miners who found a share (and announced it) that made it into the P2Pool share chain. This continues until some peer finds a block that has a difficulty that meets the Bitcoin network's difficulty target. This peer announces this block to the Bitcoin network and miners who have submitted shares for this block are paid in the generation transaction, proportionally to how many shares they have found in the last while. - Unknown author
You can support P2Pool mining by installing and setting p2p mining and become a part of network. Please be patient until your earned shares and payments become stable and you reach usual amount with your hash power and current difficulty.
if feeling generous donate to:
No matter if you have a question or just want to say hello, we would love to hear from you.
Phone: +31 (063) 1049104 Email: firstname.lastname@example.org
While the actual process of mining is handled by the mining hardware itself, special software is needed to connect your miners to the blockchain and your mining pool as well, if you are part of a mining pool. The software delivers the work to the miners and receives the completed work from the miners and relays that information back to the blockchain and your mining pool. The software can run on almost any operating system, such as OSX, Windows, Linux, and has even been ported to work on a Raspberry Pi with some modifications for drivers depending on your mining setup.
|BFGMINER 3.10.0||Win X64||Win X32||source code|
|BFGMINER 3.5.7||Win X64||Win X32|
|CGMINER||latest version||fork with bitfury chip support|
|MultiMiner - Windows GUI for bfgminer||latest version||source code|
|Asteroid - Mac miner client for cgminer||latest version|
|Darkcoin - miner||CPU Miner||GPU Miner|
|GlobalBoost-Y - miner||Linux||Windows|
|If you want use your old mining software, you should setup Stratum mining proxy on your side.|
“I think P2Pool makes mining fun again.” -gmaxwell, Bitcoin Core Developer
Typically a miners first question is how much and how often will I be rewarded for my work, and we will get to that in a moment... Before we do, there are some things you should be aware of, things that set P2Pool apart from any other mining pool. Things that make P2Pool awesome.
Unlike centralized mining pools, P2Pool is based on the same peer-2-peer (P2P) model as Bitcoin, making the pool as a whole highly resistant to malicious attacks, and preserving and protecting the decentralized nature of Bitcoin.
When you launch a P2Pool node; it seeks out, connects with, and shares data with a decentralized network of other P2Pool nodes (also known as peers). P2Pool nodes share a cryptographic chain of data representing value, similar to Bitcoin's Blockchain, the P2Pool version is called the Sharechain.
The table below shows some of the key differences between the two:
|Content||Length of chain||Expected time||Difficulty adjustment|
|Bitcoin blockchain||Bitcoin transactions||Complete; all blocks||10 Minutes||Every 2,016 blocks|
|P2Pool sharechain||Miner rewards||8,640 Shares||30 Seconds||Dynamic|
Shares that make it into the P2Pool sharechain are the same (cryptographically speaking) as blocks that make it into the Bitcoin blockchain, except that they have a lower difficulty target.
When a miners share is accepted by a P2Pool node it is broadcast on the P2P network to all the other nodes. If a majority of other nodes accept the share, it becomes confirmed in the sharechain. For your P2Pool node to accept and broadcast the share it must meet the minimum p2pool difficulty.
A P2Pool share that also meets the Bitcoin difficulty is broadcast to both P2Pool and Bitcoin peers, and if confirmed by the Bitcoin network becomes a block.
P2Pool miners are paid every time a block is found by the pool for any confirmed shares they currently have in the P2Pool sharechain.
This is known as a Pay Per Last N Shares (PPLNS) payout system, and is the mechanism P2Pool uses to both determine payouts and discourage pool hopping. In P2Pool the N in PPLNS is 8,640, each of the last 8,640 shares are paid each time a Bitcoin block is found. A share in the P2Pool sharechain can be expected to last about 3 days (8,640 shares * 30 seconds = 3 days).
Confirmed shares are valid, and paid whenever a block is found, for as long as they remain in the sharechain (about 3 days). Payouts in P2Pool are made immediately, directly from the block generation transaction. Newly generated coins require 100 confirmations before they can be spent, so P2Pool payouts cannot be spent for about 16.5 hours.
As a miner on P2Pool you are competing with other P2Pool miners for a portion of the 8,640 active shares. The more shares (and the higher the difficulty of those shares) you have in the sharechain, the greater your reward when a block is found.
Yes. However, unlike some centralized pools, P2Pool has a minimum hash rate threshold to expect regular payouts when blocks are found. The minimum hash rate to expect regular payouts changes based on the total speed of all the miners in the pool at any given time. A good rule of thumb to expect a payout when a block is found: If your expected time to share is over 1.5 days you are unlikely to be able to maintain a valid share in the sharechain.
One last important tip: When you start mining on P2Pool exercise patience. Until you get a confirmed share in the sharechain, and the pool subsequently finds a Bitcoin block, you will not receive a payout. As you add more shares to the sharechain your payout will increase, when a share is older then 3 days (8,640 shares) it will fall off the end of the chain and no longer be paid. P2Pool will tell you your expected time to share, but keep in mind this is an estimate and is subject to the same luck/variance that Bitcoin blocks are.
Now that you have a basic understanding of how P2Pool works…
“If you can not measure it, you can not improve it.” -Lord Kelvin
P2Pool provides a wealth of data from each of its nodes and comes with a handy web based interface to view it with. Because of this P2Pool is the most transparent mining pool on the planet.
The P2Pool dashboard can be accessed on any public or private node by appending /static to the node address.
There are various versions of the dashboard available, and you may see different deigns and pieces of the data displayed on each.
Additionally, P2Pool provides a JSON API with various endpoints that display data from any node in a standardized format. If you are not familiar with JSON, or do not know what an API is, don’t worry, its all human readable.
The URL format to access an endpoint is:
|/current_payouts||Global miner addresses, and exactly what they would make if a block were found now|
|/difficulty||Minimum P2Pool difficulty|
|/fee||The fee charged by the node operator, fees are calculated as a % of shares|
|/global_stats||Various global P2Pool statistics|
|/local_stats||Various local P2Pool statistics|
|/patron_sendmany||Calculates the fair distribution of donations to P2Pool miners, add /BTC_AMOUNT|
|/payout_addr||Default node address, used if one is not supplied as user name and for fee payments|
|/peer_addresses||IP addresses of all connected P2Pool peers|
|/peer_txpool_sizes||The size of P2Pool peer Bitcoin transaction pools|
|/peer_versions||The P2Pool version of connected peers|
|/pings||Latency to P2Pool peer addresses|
|/rate||Global pool rate in hashes per second|
|/recent_blocks||Bitcoin blocks found in the last 24 hours|
|/stale_rates||P2Pool global share counts; good, orphan and stale|
|/static||Main node dashboard|
|/uptime||P2Pool node uptime|
|/users||A current list of active p2pool miners|
|/user_stales||P2Pool global stale shares|
|/web/best_share_hash||Best share hash|
|/web/currency_info||Details for the currency being mined|
|/web/heads||Hashes for heads|
|/web/log||Various data collected over the last day|
|/web/my_share_hashes||Hash for each share found by node since last restart|
|/web/tails||Hashes for tails|
|/web/verified_heads||Hashes for verified heads|
|/web/verified_tails||Hashes for verified tails|
|/web/version||Node P2Pool version|
"Bitcoin is a technological tour de force"
There are two primary means to get started mining with P2Pool:
1. Set up a local P2Pool node, ideally where you keep your miners.
2. Mine on a public P2Pool node near you.
By design P2Pool is intended to be run locally by the miner, and this is almost always the most efficient method. Also, when you run a local P2Pool node you have the freedom to configure your installation any way you would like. If you have the technical chops and computing power running a local Bitcoin and P2Pool node it is the way to go.
For those that either want to try P2Pool out first, or do not have the ability to run their own node, there are many public P2Pool nodes to choose from. Some charge a fee, many do not. Keep in mind that latency between your miners and the node is very important. You will want to locate 2-3 nearby nodes to configure your miners.