Obviously any slight change could drastically alter these assumptions, but let’s take a look at the different scenarios.
ZCASH HASH CALCULATOR UPDATE
I do not account for any significant changes to the underlying algorithm, such as the “Casper” Ethereum update (see ‘THE DIFFICULTY BOMB’ below).I do not run any scenarios of converting a currency into another currency.I assume we hold all coins until the end of the contract, and assign a value to the portfolio based on $USD.I attempt to cover the shortfall in network hash rate with two different scenarios (shown below).This assumption I am the least confident about, as network hash has been shown to deviate at certain times The base network hashrate follows along very closely with the movements in price.
ZCASH HASH CALCULATOR FULL
I covered the full methodology in a prior blog post
Note: Do not take any of the words in this post as financial advice or recommendations. Įach cryptocurrency has three contracts, and I will formulate 4 different scenarios to try and capture a profitability “range”. Each of these cryptocurrencies is currently available on the website as of. What I will attempt to do in this exercise, is build a profitability calculator for Ethereum, Monero, and Zcash. Where the network hashrate (aka, the mining power of the entire network) will fluctuate over timeīoth of these inputs are extremely volatile, and have a huge degree of uncertainty in the near and distant future.Where the price of the currency will fluctuate over time.The problem exists, because of two major uncertainties surrounding cryptocurrencies: While the user is able to see the upfront cost, they are unable to get an idea of how many coins they will receive by the end of the contract. “How profitable is contract?” - Everybody, ever While Genesis Mining has done a great job breaking down a complex problem into an easy-to-understand business model, users consistently have one big question: In turn, they receive daily payouts of whatever specific cryptocurrency they purchased the contract for. Users who are able to successfully verify the transactions receive fees and rewards in the form of brand new coins.Īnd Genesis Mining stands as the largest cryptocurrency cloud mining company in the world.Ī user can rent “hashing power” in the form of a two-year contract from Genesis for a one-time, upfront fee. Cryptocurrency mining refers to coins created as a reward in which the users of the network verify and record transactions on this very blockchain.Cryptocurrency transactions are verified by a network of nodes, then recorded in a publicly distributed ledger known as a “blockchain”, which authenticates the coins as monetary units of measurement - or money.The very nature of cryptocurrencies requires transactions to be verified by miners. From here we can see how much we can mine every day/month.BitPay is on pace to process over $1B annually in bitcoin payment acceptance and payouts, and has already grown their payments dollar volume 328% year-over-year, according to a recent blog post on the BitPay website. So on avarage, every miner_blocktime second we earn 10 ZEC. Now that we know how much time we need to discover a block, based on our hashrate, we know that each time that happens we are rewarded with the block_reward amount. Miner_block_time = block_time * network_hashrate / miner_hashrate If the whole network needs the network block time to mine a block, we can assume our miner needs the block timer multiplied by the slowness factor of our miner: We can see that the network is (network_hashrate / miner_hashrate) faster than our miner. Considering those factors, we can estimate how many seconds we need in order to find a block. We also know our miner hashrate for which we want to calculate the profitability. This is why zcash mining calculator is based on ethereum mining calculator and most of parameters are the same.įor the begining we need to know the network blocktime and the network hashrate. Regardless the proof of work algorithm, most of the crypto currencies mining work practically in the same way. The formula to calculate zcash profitability is not so different from other cryptocoins based on proof of work implementation, especially the ones using the same algorithm, Equihash.
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