What are “valid” shares, how do they differ from “rejected” shares, and how can miners maximize the number of valid shares they achieve?
What is a “Share” in Cryptocurrency Mining?
In cryptocurrency mining, a “share” is earned each time your miner solves a portion of the complex mathematical problem that must be solved to validate a block. In simple terms: Imagine trying to solve a puzzle; a valid share is like finding a piece that fits, even if it doesn’t solve the entire puzzle. In a group mining pool, where miner’s combine their computational power to better their odds, shares allow mining pools to measure each participants contribution, and then reward them accordingly. The more valid shares a miner contributes to the pool, the larger their portion of the reward will be if/when the pool successfully validates a block. In solo mining, where miners work independently, the number of valid shares becomes even more critical, as it directly impacts the likelihood of solving the entire block on their own.
What is a Valid Share?
A valid share is a share that meets the required difficulty level set by the mining pool or network. “Difficulty” refers to the amount of computational effort required to find a valid share. For example, if the share difficulty is 2,000 megahashes per second (MH/s), the mining device has to complete approximately 2,000,000,000 hashes to successfully validate a block, and receive the reward. Mining is designed to be competitive, and only shares that meet the difficulty level set by the pool, will be accepted by pool. Validating shares is a means to ensure that all participants computational power is being used effectively.
What is a Rejected Share?
Although mining devices are constantly submitting shares, not all of them are accepted as valid. A rejected share occurs when a miner submits a solution to the puzzle that doesn’t meet the difficulty target set by the mining pool or blockchain. Rejected shares have no benefit, and thereby waste computational effort and utility power.
Why shares can be rejected
Difficulty Target: The submitted solution doesn’t meet the required difficulty level.
Stale Shares: A miner might submit a share that was solved using outdated data, meaning it is no longer relevant to the current block.
Duplicated Shares: If a share is submitted more than once, it’s rejected as duplicated, potentially due to a bug in the mining software.
Additional Factors: Rejects can also occur due to other issues, like errors in the mining software or hardware, or unstable overclocking configurations.
Network Configuration Issues: A miner’s settings may not be properly tuned to match the pool’s expectations.
How to troubleshoot rejected shares
Check Overclocks: Unstable overclocks, especially for VRAM, can lead to rejected shares due to memory errors.
Verify Software: Make sure your mining software is up-to-date and compatible with your hardware and the pool’s requirements.
Address Connection Issues: Poor internet connectivity or high latency can cause stale shares to be rejected.
Why Do Valid Shares Matter in Solo Mining?
Solo mining is when a miner attempts to solve a block on their own, without combing their resources with anyone else. In this context, the miner does all of the work, but also gets all of the reward if their mining device manages to solve the entire puzzle on it’s own. Solo mining is sometimes referred as “lottery mining”, because each valid share submitted by the miner has the potential to solve the entire puzzle, thereby winning the block reward. In this sense, each valid share is like a “ticket” or entry into the crypto lottery. Solo lottery mining is a high risk, high reward approach for those who are willing to take an “all or nothing” approach to cryptocurrency mining..
How to Maximize Valid Shares in Solo Lottery Mining
1. Invest in High-Quality Hardware
- Mining requires powerful computers that can perform high-speed calculations. The better your hardware, the faster you can solve puzzles and submit valid shares.
2. Optimize Your Software
- Use mining software that is designed to work efficiently with your hardware and the cryptocurrency you’re mining. Proper software configuration ensures that you meet the required difficulty level.
3. Check Your Network Settings
- Ensure your mining setup is properly connected to the network and that your mining difficulty settings are correctly configured. Improper configurations can lead to a high rate of rejected shares.
4. Monitor Your Progress
- Regularly monitor your mining process to ensure that you’re submitting more valid shares and fewer rejected ones. Tools are available to track share rates and identify any issues with your setup.
Explain It To Me Like I’m Five Years Old
What are valid shares in cryptocurrency mining and how do they impact mining rewards?
Valid shares refer to the partial solutions that mining devices or mining rigs contribute during the mining process. When valid shares are submitted, they help mine cryptocurrencies by contributing to the discovery of a valid block. Participants in a mining pool earn mining rewards based on the valid shares they contribute, with consistent payouts being made according to pay per share or other pool fee structures.
How do valid shares affect pool fees and daily payouts in mining pools?
In a mining pool, the valid shares you submit are used to calculate your contribution to the mined blocks. Mining hardware like asic miners and gpu mining rigs each contribute valid shares, and you are paid for your share of the total hash power. Pool fees are generally deducted from daily payouts, but the more valid shares you submit, the higher your consistent payouts and profitability.
How do I start mining and ensure I am contributing valid shares in a mining pool?
To start mining, you’ll need the right mining equipment, like asic mining rigs or gpu mining setups. Choose a mining pool that aligns with your goals. As a small miner, it’s essential to ensure that your hash rate and mining hardware are optimized to generate valid shares. Your valid shares submitted will help you receive rewards as you contribute to solving the complex mining puzzles that generate valid blocks.
How do valid shares contribute to profitability and mining hardware efficiency?
The valid shares you submit are tied to the overall hash power of your mining rig or mining devices. Valid shares increase your chances of successfully mining blocks and, consequently, profitability. Experienced miners often use gpu mining or asic mining rigs to enhance their hash power and reduce energy consumption. The more valid shares you contribute, the more relevant your participation is to the pool’s overall success, improving your chances of receiving mining rewards.
