How to Mine Zcash | Is Zcash (ZEC) mining profitable?

ZCash Mining is a dynamic industry with consistent updates to the hardware, software, pools, price, difficulty and profitability, making it harder to always make money mining with an ASIC miner.
Mining can be a great investment, especially if you have a cheap power source., but aside from Bitcoin, what is profitable to mine in 2020?. You'll definitely want to check out ZCash mining for an alternative mining option to diversify your portfolio.

What Is Zcash?
Zcash is a publicly encrypted blockchain and scientific breakthrough in cryptography with its use of zero-knowledge cryptography known as zk-SNARKS. This framework allows the user to leverage two addresses: one fully private and one transparent (similar to Bitcoin). The two customizable modes, shielded and transparent, allow your transaction to be completely anonymous or publicly viewable.

Many cryptocurrencies will retain value somewhere in the world, even if only on the collector market or for an intermediary platform to exchange value. Many believe Zcash will be one of those cryptos and they have a strong case backing them.

Zcash provides the option of transactional anonymity using cryptographical keys for the best mathematical security possible.

#1. The U.S. and other global governments routinely spy on people’s data, including financial data. Law enforcement does not like Zcash for that reason.

#2. Privacy is a hot-button issue around the globe, and control over our own anonymity is defended by several civil rights groups, including the ACLU, EFF, and Anonymous.

#3. Apple, Facebook, Google, Amazon, and Lavabit all had very different reactions to government requests for information.

#4. Zcash is a pure altcoin that’s like Bitcoin in structure and maintains sustainable pricing.

#5.Bitmain has released an ASIC dedicated to the Equihash algorithm, that can mine Zcash faster. 

History of Zcash
The origins of Zcash can be traced to 2013. A project known as Zerocoin was created to address the privacy problem of Bitcoin. The project was led by Matthew Green, Ian Miers, Christina Garman, and Aviel D. Rubin, who were at John Hopkins University.

This evolved into a collaboration with MIT, The Technion, and Tel Aviv University in 2014. Initially, the project was designed to be an ‘add-on’ to Bitcoin, but with the new advancement, it became a cryptocurrency of its own known as Zerocash.

The transition of Zerocash to Zcash started building up when the Zerocash team began collaborations with Zooko Wilcox and his team from Least Authority. The collaboration was publicly expressed for the first time in 2015, and in October 2016 the Zcash blockchain was ready to be launched.

Zcash was launched on October 28, 2018, by the company known as Zerocoin Electric Coin Company. The company does not claim to control the cryptocurrency; instead, all users are viewed as contributors to the decentralization of the network.

Zcash also has the Zcash Foundation which is different and independent from the company. The purpose of the foundation is to provide internet payment and privacy infrastructure for the public.

Mining Basics: How Does It Work?
Zcash is a cryptocurrency that generates new coins through the mining process. Each time a block is added to the Zcash blockchain, a new ZEC is created. In fact, new blocks are created about every 2.5 minutes.

Zcash launched with a "slow-start mechanism," which is different from many cryptocurrencies. The number of coins released into the system was much smaller in the early days of mining to mitigate the risk of the protocol having a major bug or security issue. If a problem was uncovered, the slow-start mechanism would reduce the impact. This approach impacted the first 20,000 blocks that were mined over the first month.

A "proof of work" algorithm is used, and Zcash uses the "Equihash" algorithm, which is not compatible with application-specific integrated circuit chips mining. This is a plus for new miners because cryptocurrencies that are compatible with ASIC mining make it difficult to mine using CPU or GPU hardware. The ASIC units are so powerful, it’s nearly impossible to compete with these expensive units and turn a decent profit.

Also, because the ASIC units aren’t currently used for Zcash cloud mining, you can get started relatively quickly and without a large upfront investment. Potential miners could use their existing CPUs, join a mining group, and start earning relatively soon. But let’s back up. What exactly do you need to get started mining Zcash?

Setting Up a Zcash Wallet Address
Once you start earning ZEC coins, it’s critical to have a safe place to store your funds. This is basically a Zcash wallet address, and there are a few different options available, including:

Internet wallets. Internet wallets have apps that you can download to your smartphone to view and manage your wallet. Here is a guide to help you compare before selecting an option.
Hardware wallets. According to Zcash, a hardware wallet is the safest method for storing your Zcash. The drawback is that they currently support only Zcash transparent addresses, and those costs ranges from $40 to $99.
Exchange wallets. The exchange wallets are among the easiest options to set up. You simply need to create an account with an exchange that supports Zcash. However, check out the security of the exchange when considering this option.
The decision of which wallet to select is key when storing your funds because with cryptocurrency, you’re essentially acting as your own bank. Yet, unlike a bank, your money isn’t backed with insurance and if the location where it’s stored gets hacked or the coins get stolen - you’re out of luck. Once they’re stolen, you can’t get the coins back. Check out all options and ensure that the wallet you select provides maximum security.

Zcash Coin Pricing and Value
Zcash cryptocurrency has a total supply of 22,000,000 ZEC, which will be fully mined by approximately 2032.

While Zcash ZEC did follow the market trends of the rest of the cryptocurrency industry, it only ever had one initial spike at launch and experienced (relatively) modest 10x gains during the cryptoboom of 2017.

This makes Zcash a popular investment in crypto circles, as its especially built for investors and hodlers who love checking price charts daily. While cryptos like Ethereum or NEO are more focused on app development using their blockchains than anything, Zcash is a pure altcoin meant only for use as a digital currency. The Zcash network tech is less relevant, aside from privacy and security features.

Approximately $200 million worth of ZEC is traded on a daily basis, with trading pairs including BTC, ETH, and USDT. Cryptocurrency exchanges that supports ZEC include LBank, CoinMex, LocalTrade, HitBTC, Binance, and Huobi Global.

Commonly Asked Questions.

#1. How to start mining Zcash?
Get a ZEC wallet and generate the address. Download the mining software. Then edit the bat file and run it.

#2. How to mine Zcash on a Mac Pro?
There is no way to do it. Sell your Mac, use the money and buy a decent mining.

#3. Is Zcash (ZEC) mining profitable?
Yes, it is. Every 2.5 minutes miners get 10 ZEC or $2,900. So an hour of Zcash mining brings to rig owners $69,600. Not bad at all!

Also Read

* How to mine Ethereum.

* How to mine Dogecoin.