A lot has been said about Slush Pool – some of them complimentary and others outright negative. However, it is undeniable that the site is a revolution on its own and led the way for future Bitcoin pools. For one, Slush Pool was the first ever bitcoin mining pool in the world. The site is run by Czech based tech company, Satoshi Labs, who are also the creators of first offline Bitcoin wallet, TREZOR Bitcoin Safe and the first Bitcoin-centric world map, CoinMap. Satoshi Labs are also credited as the original developers of the mining stratum protocol currently being used by other mining pools.
SlushPool is a very popular website, with an Alexa global rank of less than 40,000 at the time of writing. Most of its users are American, and other significant sources of traffic are the UK, Germany, China and Canada among other countries.
About Slush Pool
Slush Pool first went online in November 27, 2010 under the name Bitcoin Pooled Mining Server. However, the site later rebranded and changed its name to Slush Pool (slushpool.com) and has maintained the same name to date. In January 2012, the website found its first blockchain and since then has mined over 15,000 blocks. It’s servers are located in United States, Europe, China and Singapore and has different URL’s for those countries and surrounding regions.
The site partners with a group of expert miners and charges a 2% mining fee for every transaction, which is shared with the miners.
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More information about Slush Pool is given below, in form of pros and cons.
- The site is the first ever bitcoin mining pool in the world its long history of stable and accurate mining systems gives it a degree of credibility.
- Uses a Score based method whereby older shares have less value than newer shares at the start of the round thus decreasing the risk of cheating by shifting between pools within a round.
- Has a user friendly easy to approach interface and provides a demo account to test out before joining. Also regularly updates its information, graphs and news via users Release note sections and social media accounts.
- Anything over 0.0002 can be set as a threshold. Payments are promptly given once the threshold is hit.
- Very secure as there is worker monitoring, 2 FA (Factor Authentication), and wallet address locking plus one can give a read only login token if someone else is monitoring your mining. Also runs on highly secured servers whereby the users’ Bitcoin wallets are protected.
- Has an efficient customer service team to provide assistance in the event of any issues or concerns.
- Using the scoring hash rate, users benefit from their unique reward system, allowing fair distribution of the value of a found block to relevant miners.
- Miners can give suggestions or reply to different pool development efforts in the development corner. Miners also have their say on the best mining tariffs by voting for Bitcoin core, bitcoin classic, bip 100 or choosing the “don’t care” option.
- Charges 2% of all payouts which may be a bit too high compared to other mining pools.
- Though the Score based method discourages cheating, the miner’s score quickly depletes when they stop mining at the pool since their recent shares will be of lower value than their previous ones.
Slush Pool Review Conclusion
According to the many reviews revised slush pool is true to its word putting the needs of its users above itself making it quite trustworthy and guaranteeing satisfactory results.
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