Nov 30, 2017 • 14:42
Now Genesis Mining has rolled out their new Zcash cloud mining contracts. They had a pre-order round and the contracts were sold out fast. However, Genesis Mining will release new Zcash cloud mining contracts but they will not release the exact time.
The slow mining start spans over approximately 34 days, in which the block reward rises gradually from 0 to 12.5 ZEC until it reaches the 20,000th block. This means that on day one, there will be only about 104 ZEC distributed in the global Zcash network.
You are now able to provide your Zcash address in the Genesis Mining user-dashboard to receive payouts. Please make sure to use “t-addr” (transparent Zcash address), not the “z-addr” (zero-knowledge addresses). If you can’t, or don’t want to provide an address in the dashboard yet, we will credit your ZEC balance until you do so. You can check the balance in the “orders” section in your dashboard.
Zcash is a new coin and is comparable to https, if Bitcoin is http. It means it offers a decentralized network with confidentiality on a public blockchain. The transactions can be anonymous, unlike Bitcoin. Zcash transactions do not depend on the cooperation of other parties. Zcash encrypts the contents of shielded transactions. Since the payment information is encrypted, the protocol uses a novel cryptographic method to verify their validity.
Read our Genesis Mining Review.
The exchanges that will be trading Zcash are Bitfinex, Poloniex, Kraken, Bittrex, Bitmex and others.
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