Easy Tips for Beginners on How to Mine Zcash Cryptocurrency

Introduction Zcash is another cryptocurrency like the Bitcoin but it uses zk-snarks for making sure that all user transactions are completely anonymous. They remain verifiable by the miners to ensure that there is no double spending. The Zcash cryptocurrency makes use of the Equihash algorithm which is highly memory intensive. There are some easy guidelines which one may follow when you wish to know how to mine Zcash.

Tips on how to Before one plunges headlong into Zcash mining, it is important to know what this currency means. This is a relatively recent digital cryptocurrency which primarily focuses on anonymity. Zcash mining In only a single year of its existence, it has been able to successfully win over millions of miners. It is popularly called ZEC because the cryptocurrency was launched following observations undertaken by the Zerocoin Electric Company.

What is unique about the Zcash is that it is mainly focused on privacy in comparison to other altcoins. With the help of zk- snarks it is actually possible to keep transactions completely private while users are free to exchange currency. Cryptographers from multiple renowned institutions had brainstormed to come up with this cryptocurrency.

Mining for this cryptocurrency is perhaps the simplest when you compare it with mining of the others. This is because miners will not have to download the whole blockchain or gather a lot of expertise to start mining. In fact, it is so easy to set up a mining rig alongwith this cryptocurrency that mining can begin within half an hour.

6 When you want to know how to mine Zcash you have to first understand that here mining is different from mining the Bitcoin. This is because you can get ASICs to mine the Bitcoin.

“ But, in case of Zcash which uses Equihash algorithm, this is not possible as users cannot use the ASIC for mining ZEC. This is why for Zcash mining, the GPU is highly recommend. Like the Zcash, there are many cryptocurrencies which can be mined using GPUs. But unlike the Ethereum which is mined better with AMD GPUs, Zcash mining is better with Nvidia.

When you want to know how to mine Zcash, you have to also understand that before you start mining it, you will need to set up a digital wallet. These wallets will have an address as well as a private key.how to mine Zcash This address is similar to a bank account number while the key must stay with you; it is the password that you use for logging into your account. Besides the wallet, you will also need the mining software and the EWBF is perhaps the best in this respect. 8

For miners who do not wish to mine independently, there is an alternative to join mining pools. Here, you get to share mining resources with other miners.

Place your screenshot here When rewards come through, you will be given a share proportionate to amount of hash power you have contributed. You can check for mining pool fees and compare the structure of payouts for various mining pools before choosing one. Finally, for miners who do not wish to be bothered about maintaining a mining rig, signing up for cloud mining contracts is an excellent idea. However, here also, you should check for the credibility of the provider because there are many scams and Ponzi schemes.

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