Zcash is a Bitcoin-based privacy coin that uses an advanced cryptographic framework called zk-SNARKS, short for Zero-Knowledge Succinct Non-interactive Arguments of Knowledge. The main benefit of this framework is that it allows users to leverage two addresses: a transparent one (just like Bitcoin), and a fully private one.
There’s a lot to be discussed when it comes to Zcash, as it’s one of the most interesting privacy-focused cryptocurrencies. Unlike many other cryptos, Zcash users can completely shield all their transactions.
Having the support of both, shielded and public (perfectly transparent) addresses, allows Zcash coin owners to send either public payments or private ones. Privacy is not the only top priority of Zcash, as the project also aims to solve various issues regarding fungibility, as well as the high electrical consumption usually associated with crypto mining.
At the time of this writing, the altcoin is ranked on the 20th position on CoinMarketCap. Despite its success, Zcash is still far away from the giants, such as Bitcoin and Ethereum. From an investor’s point of view, it may seem unattractive, but that is exactly why mining Zcash is still very profitable.
Why mine Zcash?
Currently, Zcash is one of the most profitable cryptocurrencies to mine, with estimated returns far higher than other PoW-based coins, such as Bitcoin and Ethereum. Another reason why mining Zcash is profitable is that there are still no exaggeratedly large Zcash mining operations.
As a general rule, Zcash mining appears to be four times more profitable than Bitcoin, and two times more profitable than Ethereum.
A few words about Zcash mining calculators
In short, if you agree with Zcash’s philosophy and its mission of addressing the most common privacy issues in the sphere, then investing in Zcash is a good idea. Besides buying Zcash via a typical crypto exchange, mining is another method that worths your time. If that’s the case, you will most definitely find our list of the best Zcash mining calculators to be quite useful.
Calculating exactly how much money you can make by mining Zcash is quite difficult. Most of the Zcash mining calculators are web apps and are designed to allow you to work with home mining rigs, as well as with other cloud mining services.
The estimated cryptocurrency earnings are based on a statistical calculation, using a plethora of values, and do not account for difficulty and exchange rate fluctuations. One of the main advantages of mining Zcash is the fact that you can use anything from your computer’s CPU to GPUs and ASICS devices.
Best Zcash mining calculator websites
Fortunately, there are various very good Zcash mining profit calculators out there. Some of the most popular options include CryptoCompare, WhatToMine, 99Bitcoins, MyCryptoBuddy, Coinwarz, and MineTheCoin.
How to use a Zcash mining calculator
We have created a step-by-step guide on how to use 99Bitcoin’s Zcash mining calculator. Even though there are some differences, most other Zcash mining calculators work the same and have a pretty similar interface.
To get started, enter the hash rate of your Zcash miner and click on “Calculate Mining Revenue.” Even though the process is fairly straightforward, it’s worth looking at the rest of the values, such as exchange rate, or block reward (they are usually auto-filled by the app with up to date information).
If you’re a beginner, please note that the difficulty factor is used to measure how hard it is to mine one block of Zcash at the current moment. The hash rate determines how powerful your Zcash miner is. As expected, the higher the hash rate, the higher the mining rewards will be. The block rewards refer to how many ZEC tokens are distributed each time a successful block is mined. Finally, the power cost refers to how much are you paying for a KiloWatt per hour of electricity (usually expressed in USD).
By far, the strongest argument for investing in Zcash is represented by the platform’s Zk-SNARKS. In a world where privacy is becoming more and more important with each passing day, it’s projects like Zcash that promise to hold up and evolve in the future.
Zcash is currently a highly undervalued coin, one that promises to benefit from enhanced future adoption. For now, it’s definitely one of the most profitable coins to mine. Zcash mining calculators play a big role in deciding what route to take. You can either opt for a mining pool, for cloud mining, or solo mining from home.