A mining pool is essentially a collection of miners who have pooled their resources and computing powers together in order to mine a cryptocurrency. As the mining difficulty of a cryptocurrency increases, it becomes harder and harder to mine, because it requires more computation power. Which itself requires more energy, electricity, and eventually more costs. This can often be too expensive for a solo miner. For this reason, miners form groups in order to decrease the costs of mining.

Recently, the crypto community has leaned toward decentralized exchanges, and hence, there are many cryptocurrency decentralized exchanges available in the crypto market.