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What does it take to mine ZEC (How to mine ZEC)

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What does it take to mine ZEC? ZEC mining is achieved through the use of zero-kn

What does it take to mine ZEC (How to mine ZEC)

What does it take to mine ZEC? ZEC mining is achieved through the use of zero-knowledge proofs, ensuring transaction confirmation, decentralization, and privacy without changing the consensus algorithm. To address the above issues, a dual signature scheme can be used to ensure the security and tamper-proof nature of the chain.

Firstly, users need to provide their own funds to pay for miner fees. Secondly, there are mining machine manufacturers who possess their own proprietary chips (ASIC) and corresponding hardware (CPU). Both of these work on the same principles, but with some differences. On one hand, due to the different operating modes of mining machines, mining companies must pay customers in exchange for device resources. Additionally, mining pools can recover part of the costs for users through their own business systems, or choose to allocate some of the income to exchanges or stakers as guarantees, ensuring that the platform is not taken over or destroyed by hackers.

How to mine ZEC

Original article author: @crypto_whale

This article is from the Chinese Zcash community and is authorized for reprint by Planet Daily.

ZEC has always been a hot topic since its launch. However, due to the high entry barriers for domestic miners, drastic price drops, and excessively low transaction fees, many people who mine ZEC are dissatisfied with the process. Therefore, many people believe that mining ZEC should be done in a zero-cost way to increase their capital utilization rate and reduce risks. Interestingly, in today’s article, we introduce how to use zkSnarks and other encryption methods to avoid the loss of value due to stalled transactions in wallets.

1. What is ZEC mining (referred to as “zs”)? The official explanation says: “Users can obtain block rewards by sending their Bitcoins to an address.”

2. How to obtain block subsidies from a node? One thing to note is that there is a small caveat here, which means that if you hold a large amount of BTC and do not sell it, then you can buy these tokens with a small amount of ETH and USDT. Additionally, you can transfer your Bitcoins to another account and convert them to new ZEC. “This statement is a bit exaggerated.” Below, I list a few options for everyone to consider:

1) Choose an exchange or wallet. If you want to transfer to a certain type of wallet, you must first register with an exchange and then click on the wallet, making it easier to store tokens on the exchange. For example, you can use Coinbase now.

2) Choose another wallet (such as Metamask), connect to the wallet first before completing the transfer.

3) Click on the contract.

4) After opening MetaMask, click on the wallet and click confirm. After entering the password, the recipient’s digital signature will be displayed. Once verification is successful, a new ID0 with the corresponding amount will be generated. When this letter is set to a valid value, the transaction will be processed in the original sequence.

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