Archive for the ‘Cloud Mining’ Category

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Zcash (ZEC) is a new decentralized and open-source crypto currency that is being advertised as an anonymous solution that offers privacy and selective transparency of transactions. Zcash payments are still going to be published on a public blockchain like other crypto coins, but the sender, recipient, and amount of a transaction will remain private. Zcash relies on zero-knowledge proofs in order to guarantee the validity of transactions on the network, but without actually having to reveal any additional information about them. This makes it possible to conceal values and other identifying information from the public blockchain and users simply prove that the values balance out and that they are not double-spending the amount they want to send.

Zcash is currently in beta and running on a testnet only, the official launch and genesis block on the mainnet is scheduled for October 28th or in about 21 days from now. This is when the first Zcash monetary units will come into existence, based on securely generated zkSNARK parameters, and when the mining of Zcash will actually launch. Currently Zcash is running a contest for an open-source Zcash miner until October 27th (the day before the official launch) a prize fund of $30,000 for the winner(s) of the challenge. Do note that the winning CPU miner entry will receive a $10,000 prize, the winning GPU miner entry will receive a $10,000 prize and the other $10,000 of prizes will be distributed to the Runners Up.

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Zcash is using the so called Equihash algorithm for the production of new coins. Initially the Zcash interface will be a command-line tool on Linux, and will not include a graphical user interface, nor run on Windows or Mac OS at launch time. Zcash’s monetary base will be the same as Bitcoin’s – 21 million Zcash currency units (ZEC) will be mined over time. 10% of that reward will be distributed to the stakeholders in the Zcash Company — founders, investors, employees, and advisors, this is the so called “Founders Reward”. At first, 50 ZEC will be created every ten minutes and 80% of the newly created ZEC will go to the miners, and 20% ZEC to the founders. Every four years, the rate of ZEC being created will halve. After the first four years the ZEC created per ten minutes will drop to 25 ZEC, but after the first four years, 100% of it goes to the miners. The end result is that there will ultimately be 21 million Zcash, and 10% of it, or 2.1 million ZEC, will have been initially distributed to the founders. With this approach, the founders are incentivized to support Zcash for the long haul (at least for four years), and they have limited ability to pump-and-dump.

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Since initial public mining for Zcash (ZEC) will most likely be limited to CPU mining on Lunux only, there is already an interesting alternative available from Genesis Mining as they have started taking pre-orders for cloud mining of Zcash. The company is offering three different basic cloud mining plans that are with a 1 year term and no additional maintenance fees applied, so the price you pay for the hashrate is the final one. Currently you can get 0.1 H/s for $29 USD, 1 H/s for $280 USD and 10 H/s for $2600 USD. Do note that these are pre-order prices and there is no guarantee what will happen with Zcash once it launches even with the already big interest in it from users. You can also use our special discount code during checkout to get 3% off the regular prices for Zcash mining hashrate, just enter CryptoMiningBlog5 as promo code during checkout to take advantage of the lower price.

For more information about the Zcash cloud mining pre-order from Genesis Mining…

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Ethereum is one of the fastest growing cryptocurrencies next to Bitcoin. Just a few months ago, the price was $1, then it shot up to $13 and today it has settled at just under $10. This rapid growth excited investors who were eager not to miss out on another hyper-growth investment opportunity.

While some choose to invest in Ethereum directly, many are turning to Cloud Mining to enter the market. Genesis Mining, the world’s largest cloud mining provider and first Ethereum cloud miner, announced today a significant decrease in their price to mine Ether.

Starting today, the price will be $37 per MH/s, reduced from the current rate of $44 per MH/s. Discussing this price change, Genesis Mining co-founder and CEO Marco Streng stated, “Every day, we are working to reduce operational costs to mine on behalf of our 200,000 customers and every time we have the opportunity to provide greater ROI potential and value to our customers, we are honored”.

Following the price reduction announcement, Genesis Mining released footage of their Ether cloud mining farm, Enigma, which is the largest Ether cloud mining farm in the world. You can view the newly released footage here. CTO of Genesis Mining, Stefan Schindler stated “The reason we are able to continue reducing the price for our customers is due to heavy optimization of the Enigma farm and economy of scale. We are proud of bringing Ether Mining mass deployments to a next dimension with Enigma.”

Like all cryptocurrencies, the future of Ether remains uncertain, but the tone of the conversation surrounding Ether is different than almost any other cryptocurrency. Discussing the excitement, Streng stated, “We believe it is headed to the moon and we are building a rocketship to make sure our customers do not miss out”.

Should you decide to purchase some Ethereum cloud mining hashrate you can get an extra discount from the already lowered regular price by using our special promotional coupon code CryptoMiningBlog5 during the checkout.

To purchase Ether cloud mining contracts at the new discounted rate from Genesis Mining…

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Hashflare is the second cloud mining service provider to start offering Ethereum. After a long period of pre-orders being accepted this Monday (March 21st) the first batch of Ethereum cloud mining hashrate went online and now the company is now taking pre-orders for the second batch that is expected to start mining sometime between April 4th and 11th, so if you purchase now you will have to wait some time before you start earning anything. Unlike the SHA-256 and SCrypt cloud mining hashrate that the service offers where it pays in Bitcoin only, with Ethereum cloud mining you are getting payments in Ethereum coins

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The minimum you can purchase is 100 KHS with a regular price of $4.25 USD per 100 KHS or $42.50 USD for 1 MHS hashrate. The mining contracts are with 1 year duration and everything is included in the price of the hashrate, so there are no extra fees that you need to pay. It is not very clear however what will happen if Ethereum switches to POS phase before the end of your 1 year contract. There is a promotional code available that can help you get 25% discount from the regular price for purchases of 10 MHS or more, just enter the following discount code when checking out HF16ETHASH25M. If you don’t want to pre-order cloud mining hashrate and wait for the mining to start, then you can always go to Genesis Mining that has been offering users ETH hashrate for quite some time and after you purchase it will start mining for you right now.

To check out the new HashFlare Ethereum (ETH) cloud mining hashrate available for pre-order…


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