The term Group Mining is used when several miners (individuals or entities) put on their resources and tools for crypto mining. There are a lot of benefits of group mining. It ensures improved security and easy transactions. Basically, miners secure the crypto network. Miners ensure that the transactions are embedded in the block. Transaction confirmations are important, especially for larger payments.
The reward for each miner depends on how much processing power is involved in the mining. Luckily, in group mining rewards are shared amongst all miners. A certain percentage of the reward is also shared with pool managers as they maintain crypto pools.
Subscribe to our Newsletter
Get the best updates from the Web3 ecosystem & The Dapp List in your inbox every week 👇