Which crypto currency has democracy inherent to its essence? There are actually many advantages a hard fork of Bitcoin, Zcash, has. First, it was intended to solve the problem of anonymity, becoming one of a few privacy coins with some unique proposition in form of choice. Users are to decide which transactions leave public, and which should stay private.
So, it’s actually the first crypto currency with optional privacy, anonymity, and intractability based on radical usage of zero-knowledge cryptography. This way it confirmed its viability especially for businesses that require confidentiality to protect their supply chains and interests.
Why ZCash Mining?
This currency has really good potential to start rising, once crypto currency market stabilizes. And there are several reasons for that:
- Zero-knowledge proof
- ZCash transactions are encrypted
- High volatility gives additional opportunities for investors to profit thus generating demand
- Market cap is around $622 mln with day trading volume of $96 mln
- ZCash mining has one of the highest potentials of profitability
ZCash Mining Beats Bitcoin
Everybody was obsessed with Bitcoin mining once the crypto industry started to realize the potential and pump the price. However, according to Anything Crypto report, Zcash (ZEC) looks much more attractive than any other Proof of Work currency. Current difficulty level of Bitcoin (BTC) and Ethereum (ETH) significantly decrease the profitability either of traditional mining and cloud mining as well.
Anything Crypto informs that with the Antminer Z9 mini, you can get around $8,000 within two years mining ZCash. By contrast, Ether mining will bring you $2,800 if you use the Antminer E3, within the same period.
With most adequate ASIC model GMO B2 rig, Bitcoin miners may expect only $1,500 in two years.
To sum up, ZCash is 4 times more attractive than BTC when talking about mining.
Does Zcash Mining Make Sense?
Despite price depreciation and rising mining difficulty, ZCash still worth mining. Yes, Bitcoin and Ether have a higher market value than ZCash, but the market is really tough with all the corporations dedicating huge resources to the process of mining.
What is important to know about profitability? The profitability of traditional mining and cloud mining depends on several factors including:
- hash power (your miner’s performance measured in hashes per second),
- difficulty (efforts you need to put to mine crypto currency),
- block reward (amount of coins rewarded per block), and
- crypto currency price.
With traditional mining you also have electricity expenses and special equipment costs.
Zcash has a block time of 147 seconds and a block reward of around 10 Zcash coins with global hashrate steadily increasing. The current price is around $120, and it has gone a long way down before giving hope and showing some potential for a reversal, once the nearing bottom is found. It means that if you enter this cloud mining industry at the right time, you have good chances to get a good result.