As the title describes in this post I am going to discuss one of the most profitable coin Zencash. What is Zencash? How to mine Zencash? What is the best GPU for mining Zencash?
When one hears about a crypto-currency, the first thing that comes to the mind is the virtual nature of the money. It is a general assumption for the people to think that all the crypto-currencies are nothing but the same. But when it comes to Zencash, it has much more than just virtual money to offer.
The name Zencash is very familiar these days in the crypto market because if its go-to secure nature.
What is ZenCash (ZEN)?
ZenCash is the first ever TLS end-to-end encrypted anonymous money network, messaging service, content platform and decentralized autonomous organization (DAO).
It is an Equihash algorithm coin, Forked of a Zclassic (ZCL). Zclassic itself is a fork of Zcash (ZEC). Which was derived from a Bitcoin (BTC).
The most important aspect of Zencash is being used as a privacy coin. It is a public block-chain that ensures a degree of anonymity and privacy to the users.
Now, what exactly is a privacy coin? And why do we need privacy?
The privacy coins allow users to send secure, off-the-grid transactions to other users. It means that the only perimeter that is required in the transactions of ZenCash is the address of sender and receiver.
Zencash offers node-to-node encryption AKA secure transactions.
The sender will send a required amount of ZenCash from his address to the receiver’s and its done, just like that. The sender can also include private messages in the transactions to add content to the payments.
Zen uses zk-SNARKS with additional layers of node encryption, domain fronting, and IPFS.
- zk-SNARKS – Private transactions with hidden sender/receiver information
- Domain Fronting – Hides internet connection endpoints to prevent censorship
- IPFS – Publish or access data anonymously via a distributed system
Now, as mentioned earlier the ZenCash is not just a cryptocurrency but a platform. This Zcash article discusses the various aspects of a ZenCash platform.
The transactions have two options namely shielded and transparent that allows transacting privately or transparently. When the shielded transaction is followed, a secured messaging service is incorporated.
Using ZenCash End-users can provide private communications on the blockchain, enabling secure and worldwide anonymous publishing. This allows users to safely and anonymously create content, without revealing their identity
The three systems which are provided by the ZenCash platform are:
- ZenChat- It is the messaging feature that is by default included in the platform. It is usable with a customized secured communication network.
- ZenPub- It is an anonymous document publishing platform using IPFS that is in line with the ZenCash platform.
- ZenHide- The ability to circumnavigate crypto-commerce blocking using domain fronting.
- Algorithm: Equihash
- Total supply: 21,000,000 million (same as Bitcoin)
- Current circulating supply: 3,274,188
- PoW block reward: 12.5 ZEN
- Division of each PoW block: 3.5% Secure Nodes reward, 8.5% ZenCash team treasury, 88% miners reward.
- Blocktime: 2.5 minute
- Reward halving period: every ~4 years, as per Bitcoin
- Miners: 88%
- Secure Nodes: 3.5%
- Core team: 8.5%
How to mine Zencash?
ZenCash is a profitable mineable POW (Proof of Work) cryptocurrency. This signifies that when one sends someone ZenCash, the blockchain verifies it. The person that works behind the curtain is called a miner.
They accomplish this by connecting their mining rigs to the ZenCash networks to verify the transactions and solve the Equihash algorithm on the block-chain. They are the actual backbone of the network of ZenCash.
As a reward for mining the ZenCash, for every solved block a piece of Zen going to the mining pool where people who build the GPU miners and connected people on the network receives a small token for the work done.
Most of the mining work is outsourced as a result the network is decentralized. The decentralization is a key component of any cryptocurrency.
Best GPU for mining ZenCash.
As mentioned earlier in the article, the people who solve the Equihash algorithm to verify the integrity of ZenCash are known as the miners. As a reward for solving the blocks, the miners receive ZenCash incentive.
This resulted in a manifold increase in the number of miners in the past few years. The algorithm that has to be solved to verify the block on the blockchain is Equihash algorithm.
Anyone in the world having a GPU with an active internet connection can mine ZenCash for POW.
Currently, there are two outstanding kings in the world of GPUs. They are Nvidia or AMD. Changes are usually made for better cooling and improved performance.
In case of Equihash mining, Nvidia cards beat the AMD by quite a large margin.So, if your purpose for buying a GPU is mining Equihash cryptocurrencies then you must not go for AMD.
You can visit our guide to choosing Best GPU for profitable mining in 2018
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.
Nvidia GPU cards:
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 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||470 H/s||550 H/s||700 H/s|
|90 Watt||120 Watt||120 Watt||130 Watt||190 Watt|
Mining ZenCash is an easy task. Ones you assembled your mining rig make sure the rig detects all the GPUs attached.
Now next step is to download the mining software for mining zencash. For Nvidia GPU I am using and recommending EWBF. Download it from GitHub.
While it’s downloading select the pool you are going to use for Zencash mining. I am using https://zen.zhash.pro/ . They have low pool fees 0.5%. Also, the pool is fast, responsive and easy to connect.
Another popular pool is miningpoolhub. The pool is very popular and contributes the most amount of hash rate. It has 0.9% pool fees. And you need to register to start mining.
Ones you download is complete extract the zip file you downloaded.
Inside the extracted folder you’ll have to make a copy of the start.bat file.
Now right click on the copied file and select edit.
Enter the following code into the file for pool Zhash.pro
Miner.exe --server [insert server here] --user [your wallet address here.worker_name_here/your_email] --pass [password here] --port [port number here]
Edit and insert your information in the bracketed sections.
Save and close the file.
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 decide you want to mine to a different pool, just change the same settings in the appropriate file.
Visit our guide to building 13 GPU profitable mining rig. The guide is intended to mine Zcash, But you can also mine ZenCash using it.
Why should you mine ZenCash?
There are many other crypto-currencies, then why should one mine ZenCash?
One reason is that ZenCash takes 8.5% of each block mining reward to back operations, development, and market a product. Many currencies don’t realize the time invested to develop a market. If no one knows the currency, it has no value at all.
Also, 3.5% of each mined block goes to the secure node and to the people who host these nodes. You can host your own secure node with only 43 Zencash tokens. The network is secure and stable.
Also, mining ZenCash is not that a tough job and anyone with a GPU or even a good CPU can easily solve Equihash algorithm. It is designed for a long-term operation with a focus on research and development.
So we observed how ZenCash is easily mined with a good GPU and what are the benefits of mining as well as using it.
I am currently mining Zencash with GTX1080Ti. 1080Ti is the best GPU for mining Zencash.
It is private, secure, untraceable, resilient and minable. Zen aims to jump-start the technological forefront and contribute to humanity through innovation.
Throughout 2018, Zen will deliver a wide range of features and services to its users. The users are hoping to get a properly scalable solution as well as progress on DOA front.
Let’s move towards a more decentralized system of currency.
ZenCash is now on Ledger Naso S Hardware wallet. Now secure your ZEN offline.