Zcash, a cryptocurrency launched in 2016, has been specifically developed to create an environment which protects the privacy of the users and their transactions. Where traditional cryptocurrencies show all the transaction details to the public, zCash uses zero-edge cryptography to keep the transactions of the parties involved private.
zCash was developed on the same basic software as Bitcoin and so, in the same way as all Bitcoin transactions need to be solved, all zcash transactions need to be authenticated and as with Bitcoins, rewards are given for this work – known as mining.
If you are new to this topic, you may want to consider taking a crypto currency course to get up to speed quickly.
Many miners choose to join a mining pool, rather than working solo, where their processing power is combined to identify and solve transactions faster and by default generate rewards quicker. However there are many possibilities when it comes to choosing a mining pool and ensuring you have the right information to choose a pool that suits your requirements and expectations is critical for success.
ZCash Mining Pools
Currently the most popular mining pools for zCash are:
- Nanopool – one of the biggest mining pools in existence, Nanopool is a multi-currency pool that offers zCash as one of the mining currency options. The Zcash pool on Nanopool has more than 15 000 active miners and 30 000 workers. Payouts happen a intervals during the day, calculated on a PPLNS payout method and the transaction fee is 1% (https://zec.nanopool.org)
- Slushpool, the first Bitcoin mining pool, is another multi-currency pool that offers zCash as an alternative to Bitcoin mining. Accessible at www.slushpool.com, with more than 20 000 active miners and 200 000 workers, Slushpool is a stable long standing mining pool. Rewards are calculate don a Scoring hash rate and the pool fee is 2%.
- Dwarfpool (https://dwarfpool.com) offers miners four different currencies to choose from of which zcash is one. Payments are based on the RBPPS method and payments happen every hour. Dwarfpool guarantees 100% uptime and allows anonymous mining. The pool fee is 1.5% (previously 2%) and miners pay a set amount on a transaction, which is re-calculated weekly, and the difference refunded or deducted. Zcash is new to dwarfpool and currently there are only 270 workers.
- Coinotron is also a multi-currency pool that offers a choice of 16 different currencies and calculates the payouts using a combination of the different payout calculations.
Zcash is considered to be the 17th most popular Cryptocurrency available at the moment with a market capitalisation of $500 million. As zCAsh is not as popular as Bitcoin or ethereum, it is more profitable to mine than many of the other Cryptocurrencies.
Although we have discussed some the mining pools that offer zCash as an option, there are many more pools available. Miners are advised to investigate the options and reputations of the pools before making decision to ensure they are not disappointed. Happy Mining.