Latest News (RSS): 5 months ago Two Years of LitecoinPool.org – The Winners

Welcome to litecoinpool.org

Mining litecoins since October 21, 2011

Welcome to the first true pay-per-share (PPS) Litecoin pool. Some of our key features:

The Reward System

Every valid share you submit to this pool is instantly credited to your account at the current pay-per-share (PPS) rate. This is not a pay-per-last-N-shares or round-based PPS pool: we always pay for your work, even if the pool has not yet solved enough blocks to cover the earnings generated.

We take on the risk of bad luck so you don't have to deal with variance and orphaned blocks; this is why the service requires a 4% nominal fee. Please note that PPS fees are only nominal, and cannot be compared to proportional/PPLNS fees. On those systems, miners are only rewarded when and if a block matures, but on average about 2% of all Litecoin blocks found get orphaned from the network, and therefore yield no reward. For this reason, a 4% PPS fee does not mean that we keep 4% of what our miners earn, not even in the long run.

A Bit of History

LitecoinPool.org was started shortly after the birth of Litecoin by Pooler, who is well known in the community as a member of the Litecoin core development team and for being the maintainer of the cpuminer software package. Since the very start, the pool used ad-hoc software: Pooler wrote the front end entirely from scratch, with security and efficiency in mind, while the mining back end was originally a heavily-modified version of Jeff Garzik's pushpool. After two weeks of intensive testing, on November 5, 2011 the pool opened its doors to the public, becoming the first PPS pool for Litecoin. In April 2012 LitecoinPool.org also became the first pool to support variable-difficulty shares, a technique later dubbed “vardiff” by Bitcoin pools, allowing miners to drastically reduce their network bandwidth usage.

Thanks to its advanced features and its reputation, the pool quickly attracted a very high number of miners, to the point that during the first half of 2012 it often constituted over 40% of the entire Litecoin network. Due to centralization concerns, it was decided to temporarily close new registrations; later in 2012, registrations were reopened, but have since been subject to approval.

In August 2013 the back-end software was completely redesigned and rewritten from scratch to implement advanced efficiency and scalability optimizations that Pooler devised after implementing support for the Stratum protocol in cpuminer. This new back-end implementation makes LitecoinPool.org the first Litecoin pool based entirely on software written from scratch, and the first pool to implement the so-called “resume” extension to the Stratum protocol.

Acknowledgements

We wish to thank all the people who have, directly or indirectly, contributed to the development of this pool. In particular, many thanks go to (in alphabetical order): coblee, DeLorean731, Derringer, diki, g2x3k, Graet, guruvan, inlikeflynn, jgarzik, LittleDuke, piperitapatty, pontius, rTech, shawnp0wers, ssvb, terrytibbs, WKnight, Xurious.