P2Pool is an open-source, decentralized mining pool for Monero, built for miners who want the steady payouts of a pool without handing control of their hashrate or unpaid funds to a pool operator. It is aimed at people who already run or are willing to run their own Monero node and want a trustless alternative to centralized pools.
Most pools collect every miner's work into a shared wallet and decide how and when to pay out. P2Pool instead runs its own peer-to-peer share chain, so there is no pool wallet at all. Every block the pool finds pays miners directly, which means funds are never held in custody by anyone.
What Is P2Pool and Why Decentralized Mining Matters
A mining pool combines the hashrate of many participants so that they find blocks more often and share the reward. Traditional pools do this with a central server that receives shares, tracks balances and sends payments. That convenience has a cost: the operator controls the pool wallet, sets the payout rules and can change them at any time.
P2Pool takes a different route. Miners run a node that exchanges shares with other P2Pool nodes over a peer-to-peer network. The coordination happens among participants, not on a company's server. For Monero, which is designed to resist centralization of mining power, this matters a great deal. A pool that grows too large can threaten the network's distribution of hashrate, and P2Pool is specifically built to reduce that pressure.
The trade-off is operational. You are responsible for your own setup, including a synchronized Monero node, a correct wallet address and a stable connection. Readers who want a hands-off experience may find centralized pools easier, but those who value independence will likely prefer this model.
Comparing Pool, Solo and P2Pool Mining
There are three common ways to mine Monero, and each suits a different kind of miner.
Pool mining is the easiest to set up. You point your miner at a pool, and rewards arrive regularly. The downside is that the pool operator controls your hashrate allocation and holds your unpaid funds until payout.
Solo mining is fully independent. You keep all of a block reward if you find one, which is ideal for the network's decentralization. However, with modest hashrate, finding a block can take a very long time, and income becomes irregular.
P2Pool sits between these two. It offers the independence of solo mining while still providing regular payouts, because the work is shared across participants in a decentralized way. For many miners with mid-sized hashrate, that combination is the reason to choose it.
Who P2Pool Is For
P2Pool suits several groups of miners. Independent hobbyists who run a full Monero node and want to contribute to network health will find it a natural fit. People who distrust centralized pool operators, or who simply prefer not to depend on a third party for payment, will appreciate the trustless design.
It is less suitable for users who want a single click and nothing else. Setting up a node, keeping it synchronized and understanding the difference between payout models takes time. Anyone unwilling to spend that time may be better served by a managed pool.
Small teams can also benefit. A group of friends or a small business with several rigs can run a private, password-protected instance and share earnings without a central account holder. Because all blocks pay out directly, the accounting is transparent to everyone involved.
Understanding Key Mining Terms Used by P2Pool
Several concepts recur throughout P2Pool's documentation, and a quick grounding helps.
A share is proof that you performed enough work to meet a lower difficulty target than a full block requires. Shares let the pool measure your contribution even when you have not found a block. Hashrate is the rate at which your hardware computes hashes; more hashrate means more shares over time. An orphan block is a valid block that loses a race to another block at the same height and is therefore not included in the main chain. Uncle blocks are how P2Pool reduces the loss from orphans. A seed phrase is the recovery words for your wallet and must never be shared with anyone.
RandomX is the proof-of-work algorithm used by Monero, designed to be efficient on general-purpose CPUs rather than specialized hardware. This is one reason CPU mining remains relevant on Monero.
How P2Pool Relates to Merge Mining and Other Chains
P2Pool supports merge mining, a technique in which work done for one blockchain also counts toward another. The documentation notes that merge mining has been available since a fork that took place on October 12, 2024, and that version 4.0 or newer is needed to use it. Merge mining allows miners to earn rewards on a second network without dedicating separate hashrate.
For readers who run more than one chain, it is worth checking which networks a given release supports and following the documented configuration exactly. Each additional network adds its own node and command-line requirements, so a cautious approach is to start with Monero alone and expand only after the base setup runs reliably.
Key features
Permissionless participation
Trustless payouts
PPLNS payout scheme
Zero payout fee
Fast block times
Uncle block support
Advanced mempool selection
Configurable window and block time
Password-protected private pools
High-availability configurations
Supported coins
P2Pool is built for Monero (XMR), and the project's documentation also mentions Nano. Mining uses the RandomX algorithm. Merge mining with other networks is possible in recent versions, but each one requires its own configuration, so check the documentation for the specifics before enabling it.
How to install P2Pool (Monero) on Windows
- 1
Download the program
Get the Windows build or installer from the official project page or its GitHub Releases page at github.com/SChernykh/p2pool. Download only from the official website or repository, never from mirrors or links shared in chats.
- 2
Verify the file
Compare the SHA-256 checksum of the downloaded file against the value published on the release page. If the project provides a signature, verify it as well. A mismatch means the file should be discarded and downloaded again.
- 3
Prepare a Monero node
P2Pool needs access to a Monero node. Run your own monerod instance, synchronize it fully, and make sure the ZMQ publishing option is enabled, since P2Pool depends on it to run properly.
- 4
Install and configure P2Pool
Run the installer or extract the archive to a folder you control. Point the configuration to your local Monero node, and if you run more than one component on the same machine, use 127.0.0.1 for the node address as recommended.
-
Start mining
Launch P2Pool, confirm that it connects to your Monero node and to peers, then start your miner against the P2Pool address. Watch the logs for the first few shares to confirm the setup is accepted.
System requirements
- Windows with a current 64-bit build
- A synchronized Monero node (monerod) with ZMQ publishing enabled
- Enough disk space for the Monero blockchain
- A stable internet connection with reasonable latency to peers
- A CPU or other hardware capable of RandomX mining
How to use P2Pool (Monero)
Using P2Pool is mostly about getting the surrounding infrastructure right. Once your node is synchronized and P2Pool connects to it, mining itself is straightforward. The most important early decision is which wallet address to use, since the documentation recommends creating a new mainnet wallet dedicated to P2Pool because wallet addresses are visible on the pool.
A typical session looks like this:
- Create a fresh Monero wallet dedicated to P2Pool and back up its seed phrase offline.
- Start your monerod node and wait for it to finish synchronizing.
- Launch P2Pool and confirm it reaches your node and peers.
- Point your miner at P2Pool using your wallet address.
- Check the logs and your miner's reported hashrate to confirm shares are being accepted.
- Monitor payouts over several days, since PPLNS rewards depend on your share of recent work.
When something goes wrong, the most common causes are a node that is not fully synchronized, a missing ZMQ setting, or a wallet address typed incorrectly. Recheck those three items before changing anything else.
Pros & cons
- No pool wallet, so funds are never held by an operator
- Zero payout fee on rewards
- Permissionless, with no approval needed to join
- Uncle blocks help credit shares that would otherwise be lost
- Configurable window size and block time for experienced users
- Supports private, password-protected pools
- Redundant node configurations improve reliability
- Open source with publicly available code
- Requires running and maintaining a full Monero node
- Setup is more complex than joining a centralized pool
- Wallet addresses are public, which reduces privacy on the pool
- Needs a stable connection and enough disk space for the blockchain
- Documentation is more technical than a typical consumer application
- Merge mining and additional networks add configuration overhead
Is P2Pool (Monero) safe?
P2Pool is open-source software, which allows anyone to inspect its code, but that does not remove the need for caution. Download only from the official GitHub repository or the project's official release page. Verify the SHA-256 checksum of the file against the value published by the developers before running it, and check the signature where one is provided. Never enter your seed phrase on any third-party website or into a program that asks for it unexpectedly.
Antivirus software sometimes flags mining programs as suspicious, even when they are legitimate. If that happens, examine the file's origin and checksum rather than disabling your protection altogether. Keep your system updated and use a dedicated wallet for mining so that any problem stays contained. Mining tools also reveal your wallet address to the pool, so treat that address as public information.
- Official source only. Download from github.com/SChernykh/p2pool. Ignore ads and lookalike domains.
- Check the SHA-256. Compare the installer hash with the value the developer publishes before running it.
- Never share your seed phrase. No developer, support agent or website — including CryptApps — will ever ask for it.
Alternatives
Among the Monero-related tools in this catalog, P2Pool is distinct because it is a pool protocol rather than pool software for an operator. Programs such as Node-cryptonote-pool, Cryptonote-universal-pool and MiningCore are designed for someone who wants to run a conventional centralized pool, with a server that holds funds and distributes payments. They suit operators who manage a community of miners and accept that role.
P2Pool instead removes the operator entirely, so miners keep control of their own rewards. Proxy and miner software such as XMRig Proxy and the miner tools in the catalog handle the hashing side and can be paired with P2Pool once it is running. If your priority is independence from any pool operator, P2Pool is the more fitting choice. If you want to build and run a pool for others, one of the server-side projects is more appropriate.
Specifications
- Price
- Free
- Type
- Open source
- License
- —
- Latest version
- v5.0-beta
- Last update
- 24 Oct 2026
- Windows support
- Yes (Windows build or installer)
- Source code
- github.com/SChernykh/p2pool
Frequently asked questions
P2Pool is open source, so its code is publicly reviewable, and it pays miners directly without a central wallet. Safety still depends on how you obtain it. Download only from the official GitHub release page, check the SHA-256 checksum, and use a wallet dedicated to mining. Never type your seed phrase into a website or program that requests it unexpectedly.
Yes. P2Pool requires a connection to a Monero node, and the documentation recommends running your own monerod instance. Your node must be fully synchronized and have the ZMQ publishing option enabled, because P2Pool depends on it to receive new block information. Running the node on the same machine and using 127.0.0.1 is the recommended setup.
The minimum payout is calculated from the Monero block reward divided by 2160, which works out to roughly 0.00027 XMR at current values. Earnings below that threshold accumulate until they reach it. Because the threshold is derived from the block reward, it may change as the reward changes over time.
No. P2Pool has a zero XMR payout fee, so the full reward from each block is distributed to the miners who earned it. This differs from many centralized pools that deduct a percentage of earnings as a service charge.
Wallet addresses on P2Pool are public, since payouts go directly to them from each block. Using a new wallet dedicated to mining keeps your main holdings separate from the address visible on the pool. Back up its seed phrase offline and never share it with anyone.
Solo mining pays the entire block reward to whoever finds the block, which can mean long waits between rewards for small miners. PPLNS spreads rewards across participants according to the shares they submitted in a recent window of work. This gives smaller miners steadier income, although the amount depends on their proportion of the total work.
Yes. P2Pool supports password-protected private pools, which keep the instance closed to the public. This is useful for small groups who want to pool hashrate and share rewards without opening the pool to strangers. Everyone still receives payouts directly, so the accounting remains transparent.
Antivirus tools often flag mining software because it uses significant CPU resources and can resemble unwanted programs. This does not automatically mean the file is malicious. Verify the checksum against the official release and add an exception only for the verified file rather than turning off your protection entirely.
Verdict
P2Pool is a strong choice for Monero miners who value independence and want regular payouts without trusting a pool operator with their funds. It rewards those willing to run a synchronized node and manage a dedicated wallet with trustless, fee-free payouts. Miners who want the simplest possible setup, or who prefer a managed service, will be happier with a conventional pool.