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What Is Ethereum Mining Pool?

Ethereum mining pool is the mechanism by which the people interested in the mining of Ethereum crypto currency come up who pool up their resources related to mining so that they may be able to share the hashing power they have got for the purpose of crypto currency mining of Ethereum crypto currency. In ultimate condition they share the rewards they have received in return of their mining efforts in proportion of the efforts are the mining resources put in for the purpose of Ethereum crypto currency mining. 

The award of share is provided to the members of that particular Ethereum mining pool who are able to present a legal and verifiable proof of their work that their individual mining hardware has solved. The original purpose of Ethereum mining pool was to cope up with the situation of crypto currency mining when it was realized that it has become progressively difficult to mine a particular crypto currency using the individual mining resources. Every crypto currency has a hard cap which means that only a fixed number of coins of that particular crypto currency could be mined in totality. 

As we go on cryptocurrency mining the total number of coins which are yet to be mined progressively becomes lesser and lesser. Hence, the difficulty level of algorithm becomes higher. In such a scenario the only viable option for the mining of crypto currency remains the higher capacity hardware. Hence we have seen in the recent times that for the purpose of crypto currency mining there is a surge in the usage of application specific integrated circuits. These integrated circuits are specifically designed to provide the resources which are needed for the purpose of crypto currency mining.

The mining algorithm which the Ethereum crypto currency deploys is known as EtHash. However, the originators of Ethereum crypto currency wanted the mining process of Ethereum crypto currency to be free from the influence of application specific integrated circuits but we are aware of the news that Bitmain cryptocurrency mining company has designed application specific integrated circuits for EtHash mining algorithm for Ethereum crypto currency mining.

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