Reference links:
https://bitcointalksearch.org/topic/after-reading-the-coindesk-article-i-see-directpool-exceeding-5-ths-soon-525585
https://bitcointalksearch.org/topic/2014-03-15directpool-next-generation-mining-pool-for-bitcoin-that-gives-back-516984
more reference points to come!
Topic: [FAQ] DirectPool.net - Discussion & Ask Questions (Read 1282 times)
Home page: http://www.DirectPool.net
Official Thread: https://bitcointalksearch.org/topic/new-directpoolnet-btc-fee-1-pay-tx-pplns-nmc-vardiff-giving-back-472122
EDIT: Community, Thanks for all your efforts to try this pool out, although bitcoin pool did not work,
I don't blame them for trying, hope more pools help contribute to stabilize a healthy network like directpool's mission.
How to start mining on DirectPool using Gridseed/LightningAsic Miners
(REVIEW A+) http://bitcoinfeeds.com/directpool-net-bitcoin-mining-review/
Q) What is (DP) DirectPool?
A) DirectPool is a new, next generation mining pool with its main focus on giving back to the Digital Currency community.
Currently, you can mine for Bitcoins at DirectPool but soon will be able to mine Litecoins and more.
Q) Which Crypto Currencies does this pool support?
A) Currently, it's centric focus is on Bitcoin (BTC) mining. Eventually, it will lead up to namecoin, litecoin, and other crypto currencies.
Q) How can you help?
A) By mining on DirectPool, you are not only securing the networks against 51% attacks but also helping the community with your donations.
You (the miner) will have the right to vote on which projects will get the fundings.
Q) What is the Pool Operation Fee?
A) Every pool takes a fee from miners, some are 1% (like DirectPool.net for BTC mining) and some others are up to as high as 10% in fees.
Miners don't like fees, so Directpool.net seems to have set the bar low enough for bitcoin miners to benefit mainly.
We, the miners, don't mind if the fees are going towards management of good causes like funding bitcoin related projects.
I believe this is where DP gives the community a benefit by choosing a donation % and allowing miners to vote on which project / cause to help fund.
Q) What is the Payout System?
A) Payouts method is PPLNS. (Pay Per Last N Shares)
Q) What is it and how does it work?
A) "PPLNS, or "Pay per last N shares", is a reward system. Whenever a block is found, payment is given to shares in a window, starting with the last share submitted and going backwards up to some number N of shares. Shares older than the window are not paid. This is essentially a 0-1 cutoff decay function. There is no concept of rounds - shares can be paid even if they were found before the previous block. This means that a given share can be paid more than once - however, the payouts are chosen so that the expected reward is equal to solo expected reward. Because the payment for a share depends only on blocks found in the future and not on shares and blocks found in the past, there is no way to hop based on the current status of the pool. However, if implemented incorrectly, it is possible to hop based on imminent difficulty changes." - Meni Rosenfeld More on this via: https://bitcointalksearch.org/topic/pplns-39832
Ask your questions, and i'll answer them as they come in. I am organizing by talking directly with the directpool.net team.
Official Thread: https://bitcointalksearch.org/topic/new-directpoolnet-btc-fee-1-pay-tx-pplns-nmc-vardiff-giving-back-472122
EDIT: Community, Thanks for all your efforts to try this pool out, although bitcoin pool did not work,
I don't blame them for trying, hope more pools help contribute to stabilize a healthy network like directpool's mission.
How to start mining on DirectPool using Gridseed/LightningAsic Miners
(REVIEW A+) http://bitcoinfeeds.com/directpool-net-bitcoin-mining-review/
Q) What is (DP) DirectPool?
A) DirectPool is a new, next generation mining pool with its main focus on giving back to the Digital Currency community.
Currently, you can mine for Bitcoins at DirectPool but soon will be able to mine Litecoins and more.
Q) Which Crypto Currencies does this pool support?
A) Currently, it's centric focus is on Bitcoin (BTC) mining. Eventually, it will lead up to namecoin, litecoin, and other crypto currencies.
Q) How can you help?
A) By mining on DirectPool, you are not only securing the networks against 51% attacks but also helping the community with your donations.
You (the miner) will have the right to vote on which projects will get the fundings.
Q) What is the Pool Operation Fee?
A) Every pool takes a fee from miners, some are 1% (like DirectPool.net for BTC mining) and some others are up to as high as 10% in fees.
Miners don't like fees, so Directpool.net seems to have set the bar low enough for bitcoin miners to benefit mainly.
We, the miners, don't mind if the fees are going towards management of good causes like funding bitcoin related projects.
I believe this is where DP gives the community a benefit by choosing a donation % and allowing miners to vote on which project / cause to help fund.
Q) What is the Payout System?
A) Payouts method is PPLNS. (Pay Per Last N Shares)
Q) What is it and how does it work?
A) "PPLNS, or "Pay per last N shares", is a reward system. Whenever a block is found, payment is given to shares in a window, starting with the last share submitted and going backwards up to some number N of shares. Shares older than the window are not paid. This is essentially a 0-1 cutoff decay function. There is no concept of rounds - shares can be paid even if they were found before the previous block. This means that a given share can be paid more than once - however, the payouts are chosen so that the expected reward is equal to solo expected reward. Because the payment for a share depends only on blocks found in the future and not on shares and blocks found in the past, there is no way to hop based on the current status of the pool. However, if implemented incorrectly, it is possible to hop based on imminent difficulty changes." - Meni Rosenfeld More on this via: https://bitcointalksearch.org/topic/pplns-39832
Ask your questions, and i'll answer them as they come in. I am organizing by talking directly with the directpool.net team.
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