Litecoin - it zakriptovany electronic money, which, like all the rest of the money (WebMoney, OKPAY, Wallet, Dengi@Mail.ru,, Yandex), used to pay for goods and services. Remarkable in kriptodengah is their anonymity and lack of control by public authorities. Just an important factor in a convenient online currency is their convertibility, but a large number of sellers in the market that accept one or another currency, this factor goes by the wayside. At the forefront is beginning to act the reliability and speed of turnover of money. Litecoin is 4 times smaller time interval to confirm the transaction than its parent Bitcoin , while not conceding his reliability.
For normal functioning of the payments system using kriptovalyuty requires its continued support in the form of processor power, ceaselessly conducting certain calculations kriptodannyh. If Litecoin such calculations are based on peer distributed network calculators (Miners - Miners) scattered around the world and produce them at an affordable computing equipment. It is remarkable that by performing a number of calculations (Block calculation) Miner (Miner) most certainly receives compensation in the form of coins ever (LTC) , which can then be used with discretion. Of course, the number of coins produced in proportion calculations carried miner and paid blocks. Thus, the frequency of their production is directly dependent on the performance of your computer equipment.
Litecoin were designed so that a new coin is generated blocks. Initial block size - 50 coins. After generating each 840,000 th block size of all subsequent blocks reduced by 2 times. At the time of this writing (early February 2013) generated approximately 290,000 units. After generating unit No. 840000 block size will be reduced to 25 coins, after generating unit No. 1,680,000 block size will be reduced to 12.5 coins etc. The second interesting point - Litecoin was designed so that the generation of a new network block took about 2.5 minutes. But at first glance it is obvious that with the increasing power of the entire network (adding new miners) network will be able to find the blocks faster. And precisely in order to prevent this, we introduced the concept complexity of the network (network difficulty). In practice this means that the growth capacity of the network and automatically increases the complexity of computations that must be performed in order to maintain its operation. Roughly speaking, if the initial time the network capacity was X, and the complexity of Y, then as soon as the network capacity reaches 2 * X - complexity automatically grow to 2 * Y. Network complexity is recalculated after each 2016-th block found.
There is a logical question - why so complicated, why increase the complexity with the growth capacity, etc. In short, the answer is as follows. The higher the capacity of the network - the better it is protected from external attacks. Litecoin (like any other kriptovalyuta) remains operational and protected only if each individual node it does not have enough power to control most of the transaction network. If this rule is violated - such a node at any moment might break Litecoin . Hence the conclusion that the greater power - the better. It also should not be penalized for a foul that should generate one block away on average 2.5 minutes. To this rule is not violated with increasing network capacity - and introduced the concept of network complexity.
Brief summary bound by these. The longer live network, the greater its capacity and complexity, and the smaller one block worth of coins. Ie farther - the harder each specific Miner to earn coins. The sooner miner join the network - the more he will have time to earn. What is honest - it was the first miners make life possible in principle network, respectively, and their remuneration above.
Current statistics network Litecoin (number of found units, complexity, etc.) can be found in Section Stats our site.
Since the payment of the money unit occurs only when the counting of a certain amount of data begins to play the role of time spent on obtaining the minimum remuneration. So one year weak miner can seek a solution of one block for block edinorazvogo reward, but if you combine the efforts and engage in settlement bloc organized group ( Litecoin Mining pool) - calculations can be completed much earlier, and the reward is proportional to the contribution of the participants share. Thus even the weakest member of an organized group of miners is not without its rewards and languishing for months in anticipation of the decision. And all this is called collective creativity maynersky pool is where you actually got, and what, in fact, asked in claim 1.
So, in order to answer the question - "How is distributed profit among the participants?" - First you need to understand on what basis the pool considers the contribution of each miner in the process of finding the next block. This is done as follows. In operation, each miner sends a so-called pool balls (shares). Balls are proof that the miner performs cryptographic computations to maintain the network. Number of messages in the ball pool depends on the power of your current hardware. This is logical - the more resources you put into the maintenance of the network Litecoin - the more rewards you deserve. All payment of remuneration received by each miner is directly dependent on the amount of ball, sent a miner in the pool. But the methods of calculation can be different. As of this moment, the most popular methods are:
Proportional . Payment of remuneration is made after finding each new unit. Shall be calculated based on the percentage contribution of each miner in finding a new block. For example, the unit was found after the pool has been sent 10000 bowl and in the search process unit 4 miner involved. In this case A miner sent to the pool ball 5000 (50% of the total), miner B - 3000 ball (30%), miner C - 1500 ball (15%), miner D - 500 ball (5%). In this case, the fee for a block found distributed among them as follows:
Miner A - 50 * 0.5 = 25 coins Miner B - 50 * 0.3 = 15 coins Miner C - 50 * 0.15 = 7.5 coins Miner D - 50 * 0.05 = 2.5 coins
Given the simplicity of this method of calculation, he is vulnerable to this method of fraud as pool hopping. We will not go into details. The key is that in the pools, which are unstable to pool hopping'u - ordinary miners can lose up to 10-15% of revenue.
PPLNS (Pay Per Last N Shares) . Virtually the same Proportional, but with one important change. Payment of remuneration is also produced when the new unit, but is estimated percentage contribution of each miner in the calculation of the last N ball. It does not matter how much the ball was necessary to find the block. Simply put, take into account the contribution of each miner, not only in finding the block, but his previous achievements. This method has at least two advantages - it is resistant to pool hopping'u (yes, 10-15% of your income is now safe), and under certain circumstances sent you balls can be taken into account several times when calculating the next reward. For example, if the calculation of the percentage contribution last used 200000 bowl, and these ball enough to find 3 blocks - that you send us will be paid three balls.
PPS (Pay Per Share) . It just paid each participant sent by balloon. On the one hand - you see a constant flow of money (albeit small) to your account. On the other hand - this is the most risky method of operation for the pool (in fact have to pay Miner, even if all new units are not) - therefore the commission pool in this method of calculating payments usually maximal (4 to 7%). This method of payment is also resistant to pool hopping'u.
Currently our pool uses the PPLNS counting charges and payments every 15 minutes after opening the box.
It is necessary to note here that in the recent performance of modern graphics cards processors (GPU) has stepped so far that they are in the calculations hundreds of times superior to most modern CPUs (CPU). So the calculation is, of course, preference should be given to them.
-from https://litecoinrain.org/faq/
