The mechanism designed for use with the Beam Open Source Pool software is named BASiC (even though the pool was written in Javascript and the payout mechanism in Python – but let’s not split hairs over this minor technical divergence!). BASiC does exactly as it says for miners of Beam cryptocurrency, especially Beam miners using the open source software, in the first instance.

BEAM

Designed specifically for mining Beam on the Open Source Pool Software which Beam Privacy has released.

The only collated information the pool needs to facilitate mining payments to you, is a fully-private Beam address, which can be generated within your Beam wallet.

ANONYMOUS

SHARES

Mining with your computer GPU will collate shares in the pool and the pool assigns those shares with a value depending on your GPU hashrate. The bigger the hashrate, the closer you get to each ‘block found’.

Your shares are compiled as a percentage of the overall pool computational power. The more hashrate you push to the pool, the more valuable your shares.

(incentivised) CALCULATION

How it all works…

YOUR HASHRATE

YOUR SHARES

YOUR REWARDS

Your GPU Miner hashrate is shown on your WORKER PAGE. Immediate hashrate will average out over the length of your time mining at the pool.

Your shares are collated by the pool from the sharediff function within the pool database. Higher GPU / Rig hashrates commit higher difficulty shares to each block.

Your share of block rewards is an accumulative value from each share sharediff and proportionally divided within the overall pool sharediff calculations.

INCENTIVISED

The individual blockfinder share (the share which calculates a Beam block) is significant whilst mining using the BASiC method and is of a higher value sharediff to the rest of the shares submitted in that block. This provides a variable ‘luck’ element which provides the blockfinding miner with a variable ‘bonus’ reward. The Bonus is calculated depending on the exact block calculation – the difficulty of the block and the individual share commited which found that block.

POOL HOPPING

PAYOUTS

In the BASiC mining method, pool hopping is highly discouraged. The Incentivised Block Reward which is paid to the block finding miner is made up partly of dropped shares by miners who drop out midway through a block round and partly due to the value of the blockfound share being higher. This is designed to encourage miners to stay on the pool.

Payouts are also handled differently to most other pools, Miners only need to point their rigs and let their mining run. Payouts are automatically pushed out as soon as the block is fully confirmed with 240 confirmations. If your wallet is not open at the time of payout, BASiC will continue to retry the payment until your Beam wallet is open and synchronised.