The PPS (Pay Per Share) payout scheme pays miners according to the number of shares they contribute to the pool. Shares refer to the discrete amounts of valid work that contributed to the pool by each miner or mining farm. The value of each share is determined by the current network difficulty of the cryptoasset, and the number of total share contributions by the miners and mining farms. Although payouts are distributed irregardless of whether a pool successfully finds a block, probabilistically, blocks will be successfully found in a statistically predictable manner by the pool, which depends on the total amount of hashing power (shares) contributed by the miners and mining farms. This is a strategy that provides regular payments, eliminates the factor of mining by luck, and often provides miners with immediate payouts.
The PPLNS (Pay Per Last N Share) payout scheme only pays miners once a block has been successfully found. This method retroactively tallies the shares that a miner has contributed to the pool once a block has been found, thus determining the amount of payouts. This payout scheme discourages miners from hopping from pool to pool.
This distribution of mining rewards has a characteristic lag as miners must wait for the last N shares to receive their rewards. As the pool distributes the actual mining rewards, miner revenues will be affected by the luck of a pool. Rewards that are distributed to miners might be higher than theoretical estimations, so they may fluctuate wildly. Probabilistically, the mining rewards of PPLNS and PPS are expected to be the same.
The PPS+ (Pay Per Share Plus) payout scheme is derived from the PPS (Pay Per Share) payout scheme. The PPS+ payment method is a combination of PPS and PPLNS. It pays the fixed block rewards with the PPS payout scheme, and distributes the transaction fees that the pool has mined with the PPLNS (Pay Per Last N Share) payout scheme. With the PPS+ payout scheme, miners are able to receive transaction fees in addition to the revenues calculated by the PPS payout scheme.