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Update miningpools.md
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JeremyRubin authored Jun 2, 2023
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![](/images/uses/bagpool.svg)

_for more detail on decentralized mining pools in a more recent article [read here](https://rubin.io/bitcoin/2021/12/12/advent-15/)_


In a typical mining pool, miners works together to create a shared block reward. The shared reward
is distributed among participants based on difficulty shares, that is, partial work proofs that
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This type of mining pool has no trusted operator and requires no coordination. This eliminates
various types of mining pool attacks, such as block witholding.


The below code shows a simple simulation of experienced variances among a set of miners with a fixed
sharing policy versus a set of miners without any sharing.


```python
import numpy as np
from matplotlib import pyplot as plt
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