Hashtoro cloud mining provider has announced the launch of Zcash plans. Until recently, the popular service, created May 2018 and partially sold-out on contracts by August already, has been working with top cryptocurrencies only – such as Bitcoin, Ethereum and Litecoin. So why Zcash?
ZCash is an open-source POW cryptocurrency with the following features:
- Selective disclosure option,
- Equihash algorithm,
- Same block reward as Bitcoin, but shorter block time,
- Limited supply,
- Strong developer team.
Today, the demand for enhanced privacy in the crypto world is high. Blockchain is not 100% anonymous: theoretically, identities can be traced. The main feature of ZCash is an enhanced privacy option. The developers have adopted zk-SNARKS, a form of zero-knowledge cryptography that allows to confirm the transaction without disclosing any information about sender, recipient or the amount of the deal – and leave no digital trail. In this way, ZCash users face less risk of data mining and identity theft.
ZCash was built on Blockchain’s core code with some important alterations to it. First, instead of HashCash, it works on Equihash algorithm with smooth difficulty adjustment. ZEC offers the same reward per block as BTC – 12.5 coins – but the block time is 2.5 minutes instead of 9.29, which results in faster transaction time.
Another advantageous feature of ZCash is a limited supply, which makes the coin inflation-resistant. 21 million ZEC is the maximum amount that can be mined. All coins within the system are totally interchangeable, while the network is maintained by a non-profit Zcash Foundation and Zcash Company, with a team of experienced scientists and engineers.
The crisis that gripped the market has not bypassed ZCash. However, it maintains a strong position in the crypto community and continues to evolve.
On 28th Oct, 2018, ZCash team introduced the Sapling protocol update, which was designed to reduce the time and memory use. During 2018, various sources have named ZCash one of the most profitable and secure cryptocurrencies, and Sapling might become a turning point for the cryptocurrency: a month before the update, ZEC network hashrate went over 13% up. The media presence and the market cap have also increased: at the moment, it’s 19th in the market cap rank, and rising.
Earlier this year, in summer, the Overwinter hard fork took place, and a two-year roadmap was published. According to it, the next steps will be further improvements in scalability, as well as improving security and resistance to 51% attacks.
ZCash cloud mining
When it comes to mining, ZCash is a good alternative to the top coins. Lower competition means less mining difficulty, and though the release of ASIC chips for Equihash has somewhat spoiled the party for GPU rig owners, it’s still possible to get fair profit with the help of cloud mining.
Hashtoro offers the following prices for ZCash mining: €10 for 1-year contract, €20 for 2-year contract and €30 for 5-year contract at per 100 H/s. The farms are equipped by the brand new Bitmain Antminer Z9 Equihash miners released this September. According to Crypto Briefing report issued last summer, mining on Antminer Z9 could give $8,000 return on investments in just two years’ time.
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