The term “mining pool” refers to the situation in which many miners pool their resources in order to increase their chances of successfully completing the sequence of transactions necessary to add a new block to the blockchain.
All of the participants involved in the Mining Pool will get their share of the rewards in direct proportion to the amount of computing power they supplied to the pool.
Being part of a mining pool is supposed to increase one’s chances of successfully hashing a block, and as a result and as an example, the amount of bitcoin reward one receives, which may then be used to generate an income.
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