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When we first saw the What is a Mining Pool in Crypto? (Animated + Examples) video on the Whiteboard Crypto channel, we knew our community would want to stream it as soon as possible. So we wrote this article to publish it as soon as possible.
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For your information, you can find below the description of the video What is a Mining Pool in Crypto? (Animated + Examples) published by the Youtube channel Whiteboard Crypto:
What is a Mining Pool? A mining pool is a way that cryptocurrency miners can win rewards faster by grouping together to split up the block’s rewards.
Instead of having to wait on average 10 days, for example, they could join a pool of 10 people, changing the average wait from 10 days to 1 day. However, they will also have to split the rewards between all the other miners in the pool. If this is confusing, watch the video and you will understand it much better with the stories and analogies included!
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