Hello miners! So, in my previous post we talked about a profitable minable coin Zencash(ZEN). In this article I am going to discuss the second best profitable coin to mine i.e Zcash (ZEC). What is Zcash? How to mine Zcash? And what is the best GPU for mining Zcash?
The new trend in the world is getting digital and decentralizing the processes. This has given birth to the crypto-currencies that we are seeing today all over the internet. There are various currencies that have started to gain the popularity with the upheaval of Bitcoin.
These days protecting the information is the real deal and, thus, privacy coins have paved the way. ZCash is one of those first privacy coins that protects the identity of the user to its best. So lest understand what is Zcash? and how to mine Zcash?
What is Zcash (ZEC)?
Before we go for mining lets first understand what is Zcash.
Zcash is decentralized opensource and one of the first privacy cryptocurrency. They believe that personal privacy is necessary for core human values like dignity, intimacy, and ethics. Companies need privacy in order to conduct their business.
Zcash is a privacy coin.
Well, while dealing in cryptocurrencies, most of the times the identity of the sender as well as the receiver is open to all. Zcash is the first open, permission-less cryptocurrency that can fully protect the privacy of transactions using zero-knowledge cryptography.
It is open source and provides selective transparency of transactions. Although the payments are viewable on the public blockchain the sender, receiver and the amount transacted remain private.
The cryptographic research that is done on the security of the currency is conducted by an engineering team specialized for the task. It is based on Bitcoin Core’s battle-tested codebase. It is the 17th most valued cryptocurrency in terms of market caps.
Although being developed by the Bitcoin the addition that has been made to the Zcash is the privacy. The cryptographic method used for securing the privacy with Zcash is called zero-knowledge proofs.
It is the first widespread application of zk-SNARK which stands for “Zero-Knowledge Succinct Non-Interactive Argument of Knowledge”.
It validates the possession of the actual data without actually revealing the data. This guarantees the valid transactions but never reveals the additional information.
How Zcash works?
Zcash offers both public and private transactions. It is built upon an extent Bitcoin protocol. Addresses which starts with “t” Behave exactly like Bitcoin. Including their globally public properties, And we refer to these as the transparent address.
Addresses which start with “z” include the privacy enhancement provided by zero-knowledge proof. So it provides capabilities so you could make transactions public and private based on your needs.
While all of that is undoubtedly pretty cool what’s even cooler is that it’s decently profitable to mine right now. So, let’s learn how you can start mining zcash.
How to mine Zcash?
Mining Zcash (ZEC) is very simple. I am going to take you through all the steps. From Best GPU for mining Zcash to setting up Zcash wallet and Miner software.
If you’re looking for a whole mining rig guide, visit our profitable mining rig for Zcash build guide.
What is the best GPU for mining Zcash?
It is very important to understand that mining with a PC is not at all profitable. If one wants to generate real profit out of mining operations, a dedicated machine has to be used with a strong GPU.
The strong is the GPU, the more solution can be generated and the more the solutions, the more is the profit.
It is not really simple to research and chooses out of the various GPUs to get the one that can get the work done.
Zcash uses Equihash algorithm to verify the transactions. And for mining Equihash algorithm Nvidia cards beat the AMD by quite a large margin. Nvidia GPU cards are the best GPU for mining Zcash.
Nvidia cards are far more efficient for an Equihash mining because of Nvidia propriety CUDA technology. Now, let us tackle the question of which Nvidia variant is to buy for the purpose of mining.
Presently we have GTX 1060, GTX 1070, GTX 1080, GTX 1080 Ti in the comparison table. I will cover all of them one by one.
This card can provide 295 solutions/ second without any overclocking at 90 watts. This is a very poor performance considering the current market. Only if the budget is low then I will tell you to go with it but beware of the 3 GB variant of this product. Don’t go for the 3 GB one at any cost.
The is one of the best mining GPU. It provides 430 solutions/ second without overclocking at 120 watts. This can come out to be the best card in the market for solving the Eqihash algorithm. It is very versatile and can even solve other algorithms too easily.
This card is also available on the Amazon. But I will ask you all not to even think of this card for mining purpose. The hashrate is almost same as that of the GTX 1070Ti. There is no point in paying more for the same hash rate.
This is the best GPU for mining Zencash. and can give 700 solutions/ second without any overclocking at 250 watts. When compared to the GTX 1070 for mining Eqilhash algorithm, the GTX 1070 tops it up. Whereas, many if the forums and blogs assure that it can provide 1000 solutions/ second with the custom It is undoubtedly one of the best mining GPU in the market.
|GTX 1060||GTX 1070||GTX 1070Ti||GTX 1080||GTX 1080Ti|
|295 H/s||430 H/s||490 H/s||520 H/s||700 H/s|
|90 Watt||120 Watt||120 Watt||130 Watt||190 Watt|
The following steps can be followed for a successful mining of Zcash:
Getting yourself a Zcash wallet.
We know that there two types of Zcash wallets. Private and transparent, Choose one that fulfills your need.
There are several wallets available to download on the internet such as Jaxx. Some of them also have mobile applications. Just download the wallet and you’re good to go.
Keep your wallet secure with the strong password. Use 2-factor authentication for additional security.
For more security, it is always recommended to use hardware wallets to keep secure your cryptocurrencies.
Getting yourself registered in the mining pool.
The website miningpoolhubcom is a really good place to get the mining pooled. You would need to register with the Zcash wallet address into this site to start mining.
Another popular mining pool is nanopool. Where you can start mining without registering.
You must have a mining software. There are a lot of mining software and unless you want to research about the mining software and which one to use, you can go for EWBF
Ones the download is completed, unzip the file. Inside the folder, an executable file (start.bat) must be edited and the following content should be inside it:
miner.exe --server zec-eu1.nanopool.org --user YOUR_WALLET_ADDRESS.YOUR_WORKER_NAME/YOUR_EMAIL --pass z --port 6666
The word “YOUR_WALLET_ADDRESS” and “YOUR_EMAIL” must be replaced with your wallet address and email address respectively.
miner --server us-east.equihash-hub.miningpoolhub.com --user username.workername --pass x --port 20570
The word “username” must be replaced with the username you chose for miningpoolhub.
Now double click and open the file you just edited. It will open the command prompt and start mining Zencash for you. At this point, you should see a screen like this:
If you want to mine to a different pool, just change the same settings in the appropriate file.
After you have successfully mined a bit of Zcash, you can check your wallet for the amount that you possess and then “cash out” the amount.
You can estimate how much profit you will get, by checking on CryptoCompare The site shows the value of the currency and its estimated value in dollars for a certain processing power (you can also enter electricity costs).
You can also use 2Miners.com for an alternate mining pool. It includes monitoring bots (free of charge) for any amount of rigs as well as block notification bots. And this is how you are ready to mine Zcash.
Why should you mine Zcash?
If you are going to mine Zcash, you must know some of the facts that can intrigue you to mine Zcash.
- Amount of Coins: Following the footsteps of Bitcoins, Zcash has promised to issue a total of 21 Million Coins. The time to release that much of coins cannot be simply predicted but we can hope to reach that limit soon.
- Proof of Work or Pow: The POW algorithm used for Zcash is Eequihash. To know more about it, click here. Equihash is designed to be resistant to specialized hardware like ASIC’s. The Zcash team is not opposed to adjusting or even completely changing this POW depending on how the network is operating.
- Block Rewards: This is the favorite part of every professional and to-be miner. The Block Rewards will issue a total of 50 Zcash for every 10 mins. The block spacing is 2.5 mins, so each block produces 12.5 ZEC. 10% of all coins mined will go to the Founders Reward.
- Block Reward Halving: Every 4 years the Block Reward will be subject to Halving just like Bitcoin.
Thus, even if you were just planning to mine Zcash, you must be intrigued by the benefits that it has to offer. So what are you waiting for, set up a system and start mining.
Thus, I will conclude by saying that with new and intrinsic methods of tracking the transactions, it is really good to use a currency that doesn’t even disclose the data.
Zcash payments sent from a shielded address to a transparent address reveal the received balance, while payments from a transparent address to a shielded address protect the receiving value.
The abstraction that it provides is really great along with all the benefits and rewards for the miners as well as users. So, why not be safe and earn like a ghost.
Visit our profitable Zcash mining rig build guide
Also visit our Zencash Guide To learn more about Zencash, Zencash mining and Best GPU for Zencash.