Mining pools emerged as a response to the difficulties of solo mining, which requires significant computational resources and high costs. Solo mining involves solving complex mathematical problems to create new blocks in a blockchain, a process that has become more challenging with the increasing difficulty of mining and the need for powerful equipment like ASICs. By joining a mining pool, miners can combine their resources, increasing their chances of successfully mining a block and sharing the rewards based on each participant's contribution.

Mining pools operate on different payout schemes, including Proportional Pools, Pay-Per-Share (PPS), Full Pay-Per-Share (FPPS), Pay-Per-Last-N-Shares (PPLNS), and Solo Mining Pools. These schemes determine how rewards are distributed among participants, with some offering more stability and reduced risk compared to solo mining. Pools like WhitePool, integrated with WhiteBIT, use the FPPS model, which provides stable payouts without additional fees, making them attractive to miners seeking reliable and transparent earnings.

While solo mining can still be profitable for those with substantial resources and computational power, mining pools offer a more accessible and stable option for most miners, helping them reduce costs and increase the likelihood of earning rewards. As mining becomes more competitive, mining pools are likely to remain a key part of the cryptocurrency ecosystem, enabling efficient block creation and reward distribution.