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Talkether is Ethereum’s first pool with a decentralized mining process according to the creators of the project. It is supposed to help secure the Ethereum network by decentralizing it more and also to help miners have higher mining rewards compared to other pools due to higher mining efficiency. The pool has a built-in failover since miners set their user id in the extradata of each block even in the improbable case of a server downtime each miner of a block (identified by the extradata in the block) will get full block reward.
During the closed alpha test of the pool that has finished recently, miners are reported to have experienced up to 20% higher rewards compared to the pools they used before. This is because there are no mining time losses for getting the work from the pool since each miner of the Talkether pool gets its work from his local node. The Talkether Ethereum mining pool is now open for registrations for everyone interested in trying it out, but do have in mind that it is still in beta with zero fees until the beta phase is over.
Like every other mining pool Talkether’s pool reduces the variance of the mining rewards of the pool miners. But instead of polling the work from a poolserver like in traditional pools, miners of the pool fetch the current work from their local node (you need the Geth client installed). A small java tool adjusts the block’s difficulty, sends mined share blocks over a secured connection to the Talkether share server and publishes all blocks on local node of the miners as well. The share server takes the share blocks, validates and saves them in the database. As all pool miners are mining in the Talkether’s pool etherbase, the high secured payout server manages payouts with the common PPLNS scheme.