Post
Topic
Board Mining (Altcoins)
Re: New PPS Mining Pool, 2% Fee, No registration, No password
by
seongyupyoo
on 30/01/2014, 22:49:55 UTC
Thank you for mining at our pool. We have stopped operating. No, we're not bankrupt. We decided to switch our reward system from PPS to something else. We have reassessed the risks associated with running a PPS reward system in regards to Withholding Attacks, and have decided we cannot manage such risk while providing a quality service at a low fee. We're working on launching a new pool with a different reward system where Witholding Attacks cannot damage the pool operator in such a direct way. For your reference, a Withholding Attack is where a malicious miner does not give the block solution when the miner finds it to prevent the pool from getting the reward, while getting paid for shares the miner submits. This kind of attach is easy to do, and it seems pool operators do it to each other to put each other out of business, or to draw miners to their own pool. We started in January 8th, and we've been lucky to have made more than we paid out throughout this learning process. We will come back in the near future with an improved version of our pool. We plan to make one for Dogecoin as well. All earnings will be paid out next hour to all those who have earned at least 0.01 ltc. Thank you for mining with us, and we hope to see you on our next pool.