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Mining
Mining Tutorial
About Binance Pool
Binance
2020-08-04 10:24
About Binance Pool
Binance Pool is a comprehensive service platform dedicated to improving the income of miners. Binance Pool provides mining services to users with a focus on PoW and PoS. As an important part of the Binance ecosystem, Binance Pool makes full use of its advantages in technology, capital, the exchange business, industry resources, and other areas in order to offer its users not only the ultimate mining experience but also a one-stop hub for "mining-trading" services.
Vision:
Binance Pool has always been dedicated to improving the income of miners.
Mining Pool Advantages :
  • Ultra-High Earnings
All miner earnings are distributed to miners using the FPPS earnings distribution model, which increases earnings by about 5%. Binance Pool Savings is an exclusive wealth management product for miners with current flexible withdrawals and ultra-high annual earnings
  • Leader in Technology
Multiple mining algorithms and currencies are supported. Multi-node deployment provides customers with options while ensuring network connection stability. The platform uses read-write separation, and customers are protected from DDoS attacks using Cloudflare.
  • Top-notch service
Full-time customer service and technical support are offered round-the-clock, 24/7. Major customers enjoy exclusive VIP benefits and customized services.
  • Sound Ecology
Relying on Binance's sound ecosystem, the mining pool acts as a bridge between users and various ecological platforms. Customer needs can be met directly through the Exchange, Labs, Launchpad, and other ecological platforms
Customer Benefits
  • Mining Pool Rights & Benefits
Low fees, Pool Savings, risk-free, high-yield, independent nodes, and other services.
  • Trading rights
Major customers enjoy discounted fees when trading Spot or Futures, or borrowing funds on Margin.
  • Ecological rights
Priority benefits throughout the entire Binance ecology, at industry seminars, etc.
  • Service rights
Exclusive fast track for support tickets, exclusive one-on-one connections with VIP managers, and VIP quotes for large volume (OTC) trading.
Mining Pool Address and Fees
Binance Pool has already deployed mining pool nodes in America, Europe, Southern China, Northern China, and other locations, and continues to expand. When users connect to the pool, they are automatically allocated to the nearest node using the load balancing method to carry out mining. This ensures that the mining operation remains stable and prevents delays for users.
Settlement Methods
1. FPPS settlement method
The mining pool bears the block luck value, so users do not have to.
Earnings of theoretical income and trading fees are distributed to workers based on hashrate.
2. Calculation method
FPPS = Theoretical Average Daily Settlement Earnings * (1 + Transaction Fee Rate) * (1 - Mining Pool Fee Rate)
The theoretical Earnings and Transaction Fee Rates for the day can be found in the Block Explorer in the average Block Transaction Fee Rate for the current settlement period.
3. Settlement cycle
08:00 (UTC+8) each day - 8:00 (UTC+8) the next day.
4. Payment time
Once earnings settlement calculations are complete, earnings will be credited to the Binance Pool mining pool account by 15:00 each day.
5. View earnings
After logging into Binance Mining Pool, the user can choose to enter the Pool and click the Earnings interface to view the records.
VIP Application
Customers with high hashrate can apply for VIP status for free to enjoy VIP benefits.
Users who are granted VIP status get access to independent lines (nodes), which are stable and hidden to prevent attacks and ensure a stable income.
1. Application threshold
Applications are approved only for users who have reached a BTC hashrate of 1P.
2. How to apply
Log in to the official Binance Pool website and click "Operation Service - VIP Application: poolvip@binance.com
3. VIP levels
There are 9 VIP levels for Binance Pool users. In addition to mining pool benefits, users who become VIP clients also get to enjoy VIP benefits on Binance Exchange.
For details, please go to https://www.binance.com/en/fee/schedule
Merged Mining
Binance Pool has always been committed to improving the income of miners. With the launch of merged mining for BTC, ELA, and Vcash, miners can "kill three birds with one stone" by using their hashrate to receive mining rewards not only in BTC but also in ELA and Vcash. Miners also receive additional "bonuses" from Binance Pool to further boost their income.
1. Gift ratios
The reward ratio for merged mining earnings is based on the official market index price. See notices from Binance Pool for exact ratios.
2. Configure merged mining
During the first phase of the Binance Pool launch, the bookkeeping method was used for merged mining rewards and miners did not need to configure a merged mining address.
During the second phase of the launch, workers are able to configure addresses for ELA and Vcash on the mining pool settings page. All earnings recorded from the first phase will be distributed.
3. Payment time
Merged mining earnings are distributed at the same time as BTC. Binance will automatically distribute payments each day by 15: 00 Beijing time. Merged mining rewards will only be paid according to the ratio when the main currency payment is split. Please wait patiently for the payment to arrive
Miner Configuration
Step 1: Obtain mining equipment: a miner, a power source for the miner, a network cable, and a PC to manage the miner.
Step 2: Obtain a mining pool address.
stratum+tcp://sha256.poolbinance.com:3333
stratum+tcp://sha256.poolbinance.com:443
stratum+tcp://sha256.poolbinance..com:1800
Step 3: Create a mining username for the worker.
In the Binance Mining Pool, the Worker username is used to fill out forms. The format is < worker_username.miner_ID >.
Miner Configuration:
1. Turn on the miner and then set up the PC you'll use to manage the miner.
Connect to the same network.
2. Use the IP retriever software to obtain the miner IP address.
3. Open the IP address on the PC used to manage the miner and configure the miner as shown below: Confirm that the information is correct and then save the information. In a little while, you'll be able to view your hashrate on Binance Pool and start earning.
Mining Account
Mining accounts belong to the main account. They are mainly used to classify and configure miners and to connect your mining equipment to the platform. Once a sub-account is created, it cannot be deleted or canceled.
There are currently 3000 mining accounts online. You can set up multiple mining accounts according to your needs. Mining accounts can be used to manage multiple proxy servers, monitor multiple mining farms, etc.
Mining Account
1. How do I add a sub-account?
Go to https://pool.binance.com and log in. Click [Mining Account Management] in the drop-down menu on the right to create a sub-account. Once you log in to the pool for the first time, you will need to create a new mining account.
2. Click to add a mining account and create a worker username.
3. After creating an account, a new mining user is generated. Configure the miner in the Worker column in the miner backend. The configuration format is "miner username. miner number" (A.B format).
Watcher Links
What is a Watcher Link?
Watcher links are a read-only mode that can be used to monitor miner operating status and hashrate without logging into your account. These links can be provided to mining farm managers or be used as a quick and easy way for you to check your hashrate without logging in.
How do I make a Watcher Link?
1. Use a browser to access Binance Pool at pool.binance-cn.com to create a mining account.
2. After creating a mining account, click Account Setting in the upper right corner to enter the Account interface.
3. In the Account interface, click Watcher Links to get to the Watcher Link setup window.
4. In the Watcher Links settings interface, you can set the permissions for the Watchers to allow them to view information.
In the statistics, miners, and earnings interface, you must select at least one. Click Create to finish generating the Watcher link. At this point, you can click the Copy button to share your Watcher link with whoever you need.
Introduction to Hashrate
Rejection Rate
According to the operating principles of miners, tasks from the mining pool are continuously accepted, and the miner sends the results of the calculation back to the mining pool. However, there is a delay in communication between the miner and the mining pool. This network delay results in invalid submissions, which is known as the rejection rate. The rejection rate refers to the proportion of invalid submission out of the total number of submissions. The lower the rejection rate, the higher the working efficiency of the miner.
Rejection rate = Number of rejections / total submissions = (Number of expired submissions + Number of repeats + Other) / (Number of submissions received + Number of expired submissions + Other).
How do I check the Rejection Rate?
Sign in to the Binance Mining Pool. In the Statistics interface, you can check the total hashrate and the Rejection Rate. On the Miner page, you can check the hashrate and average Daily Rejection Rate of the corresponding miner.
What is the normal range for the Rejection Rate?What if it exceeds the normal range?
The rejection rate is generally within 2%, which is normal. If it exceeds 2%, please check whether the miner's local network is working normally and is stable. A sudden increase in the rejection rate is usually due to mining pool network instability. If the local network is working normally and the rejection rate continues to be too high, please contact the mining pool customer support for assistance.

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