What does setting my reward recipient do, and how do I do it?

2017-08-23 01:48

Setting your reward recipient before mining on a pool delegates your mining rewards to the pool's wallet instead of yours. So, if you mine a block while mining on the pool, the block reward goes to the pool's wallet to be distributed among the miners.

If you are running a local wallet, you can just go to http://localhost:8125/rewardassignment.html in any web browser on your machine. At the bottom, it says "Set reward recipient:" Put  your password for your wallet in, and also the reward address of the pool you are joining. You can usually get this address on their website, or "how to" page.

When you press the submit button, you will get a bunch information printed out that doesn't make sense to you, but it's ok! Log into your wallet, and you can see the 1 burst transaction you just did. Wait until the Conf. is 4 for that transaction, and then you can start mining on the pool.

You can set the reward on an online wallet as well, just add /rewardassignment.html at the end of the address of the wallet instead of index.html.

Tags: mining, pool, recipient, reward