When we talk about cryptocurrency, we often list anonymity as one of the defining characteristics of cryptocurrency. However, this is just a misconception. Popular cryptocurrencies like Bitcoin, Ethereum, Litecoin cannot provide full anonymity when transacting. Wallet addresses you own can be linked to your real-world identity. If you signup to an exchange or wallet service, chances are, you’ve provided personal details. These details can be easily linked to your wallet address and to all transactions you’ve done so far.
This is where a privacy coin like Zcoin really shines. Zcoin (XZC) is a cryptocurrency that focuses on anonymity and privacy. It enforces zero-knowledge proof to send and receive transactions. It is a way of proving you are the owner of coins without disclosing information.
Zcoin adds an additional layer of anonymity through its process of burning and minting. This process ensures that any past transactions of the coin are erased. Users are required to burn Zcoin to get Zerocoins. When you want to spend coins, Zerocoins are converted back to Zcoins. These newly minted Zcoins have no past transition behind them, ensuring anonymity.
What is interesting about Zcoin is it uses MTP (Merkle Tree Proof) algorithm. This algorithm is designed to be very hard on memory, preventing the development of ASICs. This is good news for GPU miners. Zcoin is one of the best coins to mine with a GPU right now. Below are some of the best GPUs to mine Zcoin:
|Graphics Card||Hash Power (MTP)||Power Consumption||Efficiency||Price||Profit|
|RTX 2080 Ti||4.3 MH/s||220 W||51 W/MH||Check Price||Check|
|RTX 2080||3.5 MH/s||190 W||54 W/MH||Check Price||Check|
|RTX 2070||2.6 MH/s||150 W||58 W/MH||Check Price||Check|
|RTX 2060||2.1 MH/s||130 W||62 W/MH||Check Price||Check|
|GTX 1660 Ti||1.85 MH/s||100 W||54 W/MH||Check Price||Check|
|GTX 1660||1.95 MH/s||100 W||51 W/MH||Check Price||Check|
|GTX 1080 Ti||1.9 MH/s||190 W||100 W/MH||Check Price||Check|
|GTX 1080||2.1 MH/s||150 W||71 W/MH||Check Price||Check|
|GTX 1070 Ti||2.1 MH/s||130 W||62 W/MH||Check Price||Check|
|GTX 1070||1.8 MH/s||130 W||72 W/MH||Check Price||Check|
|GTX 1060||1.1 MH/s||90 W||82 W/MH||Check Price||Check|
|RX 580||0.6 MH/s||120 W||200 W/MH||Check Price||Check|
|RX 480||0.6 MH/s||130 W||217 W/MH||Check Price||Check|
Hash rate and power consumption stats given above are under stock settings. If you tweak your mining rig, you can get very different results. For example, overclocking can significantly increase the hash rate. It is not always safe, but if you know how to do it safely, it will increase your profit.
It is also important to consider the type of mining software you use. Some miners are optimized for mining Zcoin. These are some of the best Zcoin miners available:
- ccminer (official Zcoin miner for Nvidia GPUs)
- sgminer (official Zcoin miner for AMD GPUs)
- TTminer (Non-official miner for Nvidia GPUs)
If you want to mine Zcoin profitably, it is important to select the best Zcoin mining pool. The easiest way to select a pool is by looking at the market share. The largest pool is usually the most efficient and profitable, but that is not always true. However, selecting the largest pool can offer you the best stability, frequent payments, and low payout thresholds.
How Much Can I Earn Mining Zcoin (XZC)?
To estimate how much profit you are going to make mining Zcoin, you can use a Zcoin Mining Calculator. Before you calculate, you must know the total power consumption of your mining rig, the hash rate of graphics card/s, pool fee, and the Cost per kWh ($). You can simply enter these details and hit calculate. You will see a breakdown of estimated mining rewards.
Mining profitability changes with the fluctuations in the cryptocurrency market. When the price of Zcoin increase, it does not necessarily mean you are going to earn more. When the price of a cryptocurrency increase, there will be more miners joining the network to profit from the opportunity. This will result in an increase in mining difficulty. With increasing difficulty, you will earn lower and lower payouts. The best case scenario is a price increase with unchanging difficulty.