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What are Bitcoin mining pools?

Bitcoin mining pools are a way for the miners to “pool” together their hashing power and then divide the rewards equally according to the number of shares they contributed solving a block. Bitcoin mining in pools started when the network difficulty got too high to the point that it could take years for miners to generate blocks. The solution was to pool their resources together and share the hashing power so that blocks could be solved quicker and hence receive more rewards.

bitcoin
Bitcoin (BTC) $ 27,679.42
ethereum
Ethereum (ETH) $ 1,895.09
tether
Tether (USDT) $ 1.00
usd-coin
USD Coin (USDC) $ 0.998666
binance-usd
Binance USD (BUSD) $ 1.00
xrp
XRP (XRP) $ 0.522172
cardano
Cardano (ADA) $ 0.377414
solana
Solana (SOL) $ 21.09
polkadot
Polkadot (DOT) $ 5.43
dogecoin
Dogecoin (DOGE) $ 0.072241
shiba-inu
Shiba Inu (SHIB) $ 0.000009
matic-network
Polygon (MATIC) $ 0.899390
tron
TRON (TRX) $ 0.076286
avalanche-2
Avalanche (AVAX) $ 14.24
ethereum-classic
Ethereum Classic (ETC) $ 18.19
uniswap
Uniswap (UNI) $ 5.14
litecoin
Litecoin (LTC) $ 91.78
cosmos
Cosmos Hub (ATOM) $ 10.79
terra-luna
Terra Luna Classic (LUNC) $ 0.000086
chainlink
Chainlink (LINK) $ 6.60
crypto-com-chain
Cronos (CRO) $ 0.059969
stellar
Stellar (XLM) $ 0.091028
bitcoin-cash
Bitcoin Cash (BCH) $ 113.87
vechain
VeChain (VET) $ 0.020806
eos
EOS (EOS) $ 0.907959
filecoin
Filecoin (FIL) $ 4.81
tezos
Tezos (XTZ) $ 0.930108
decentraland
Decentraland (MANA) $ 0.481507
the-sandbox
The Sandbox (SAND) $ 0.555899
axie-infinity
Axie Infinity (AXS) $ 7.06
elrond-erd-2
MultiversX (EGLD) $ 37.00
chiliz
Chiliz (CHZ) $ 0.100536
bittorrent
BitTorrent (BTT) $ 0.000001
helium
Helium (HNT) $ 1.40
pancakeswap-token
PancakeSwap (CAKE) $ 1.70
enjincoin
Enjin Coin (ENJ) $ 0.338208
zilliqa
Zilliqa (ZIL) $ 0.023745
nexo
NEXO (NEXO) $ 0.690954
terrausd
TerraClassicUSD (USTC) $ 0.013951
arweave
Arweave (AR) $ 6.85
1inch
1inch (1INCH) $ 0.393972
kadena
Kadena (KDA) $ 0.772969
yearn-finance
yearn.finance (YFI) $ 6,643.18
link
FINSCHIA (FNSA) $ 37.28
chia
Chia (XCH) $ 34.18
nervos-network
Nervos Network (CKB) $ 0.003676
wazirx
WazirX (WRX) $ 0.120065