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P2Pool is a distributed bitcoin mining pool. With p2pool, each miner runs a p2pool node and these nodes form a peer to peer network amongst themselves similar to how bitcoin, itself, does.

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What are the pros and cons of P2P mining pools?

Depending on your hash power, you could run your own p2pool or join a p2pool set up by somebody else. … The advantage of joining a common p2pool is it increases your chance to contribute a pool share and thus share in the block reward. …
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