What Is the Difference between PPS and PPLNS Mining Pool Reward Systems?

Pay-Per-Share (PPS) offers a guaranteed, fixed payout for each share submitted, regardless of whether the pool finds a block. This transfers the risk of block discovery to the pool operator.

Pay-Per-Last-N-Shares (PPLNS) pays out only when a block is found, distributing the block reward based on the shares submitted during the last 'N' shares. PPLNS is generally considered less risky for the operator but more volatile for the miner.