I have decided to place this image because it shows how Monero Mining completely boycotts dedicated GPU mining rigs because of its RandomX mining algorithm {I do not want to go in detail about RandomX algo., please wiki it!}. This is also said in other words that Monero RandomX mining algorithm is ASIC resistant {ASIC is acronym for giant mining farms like you see in youtube often}.
So, what does it mean to you and me, who does not have giant mining farms? That means if you set out to mine btc or eth at this current time of writing- March 2020, you connected to mining pool's hash rate has no way to compete against giant mining farms' hash rate. {hash rate per second is the measure of how many times your CPU attempts to solve find new hash of valid transaction that has happened.} BUT... BUT Monero Mining efficiently moating against such mining farms and hence only allowing CPU -GPU miners like you and me to fair playground of solving new hashes (please read
my earlier https://steemit.com/sha/@cryptonauthop/what-is-sha-algorithm-or-hashing-is-this-concept-only-in-crypto-world
) ,and hence rewarding us for our CPU resource share to mining pool.
At this time, I mine monero with my Lenovo yoga Dual Core i5 processor.{I can't wait to have full fledged graphics card GPU mining setup but I will soon!} Since my CPU alone is not enough to mine, I have connected my CPU to Singapore mining pool node. {Mining pool node? sounds alien to you. Mining pool is group of CPUs which are synchronized to solve find new hash of valid monero transaction.}
How did I set this up? Please wait for my youtube screens video tutorial soon here.
How do I get rewarded? Well, there are three reward distribution schemes. They are:
a. Pay Per Share (PPS): You get rewarded /paid in your wallet for each valid CPU resource contributed to solve find new hash. Each share is worth certain amount of monero or other minable cryptocurrency in other context.
Share worth is calculated based on probability of number of shares needed for pool to find new block {block here is list of hashes}.
As network difficulty increases, price for each share is increased too because obviously it would take more CPU resource to find new block.
b. Full PPS or PPS+: It is ditto as PPS but the only difference is: pool will also pay transaction fee reward that's included in every transactions that are found out in block that is solved found.
c. Pay per Last N Shares (PPLNS): If block fails to be mined, none of CPUs in mining pool gets reward. It pays only if new block is successfully mined. For successfully mined block, it goes on to check which wallet owner has shared what percentage of total CPU resource ,and then reward goes to that wallet accordingly.
Right now, MineXMR.com rewards with this PPLNS scheme. Believe me, it is cruel scheme because you get none reward if block fails to be mined despite me turning on CPU whole days and nights but it is only scheme that mineXMR currently supports.