Mining Pool

Mining pools are groups of cooperating miners who agree to share block rewards in proportion to their contributed mining hash power. Compared to the computational power of individual miners, mining pools are group of cooperrating miners, who who combine their computational resources (mining hash power) over a network, to increase the probability of finding a new valid block. In such a case they agree to share the block reward(s), with a variety of methods.

Note: These are non-technical definitions meant for a general audience and should not be used as legal definition
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