Mining pools are groups of miners that work together to maximize their financial advantage. Miners are responsible for the significant computing labour necessary to execute consensus mechanisms on blockchains. Miners are rewarded with native coins by networks. Mining pools determine how much work miners have performed by using block difficulty ratings and "shares." Miners will join various pools according to their hashrate. Individual miners have a better chance of benefitting from mining since pools aggregate their resources. However, joining a mining pool decreases a miner's autonomy. Mining pools have set periods and costs. They also oversee and organize miners and keep track of their performance. The majority of mining pools compensate miners based on the quantity of work they perform. There are several payment mechanisms for mining pools, including pay-per-last-N-share, pay-per-share, and proportionate mining pools.
