Fintech News | Fintech Zoom

MinerGate removing fees for mining ZCash.

MinerGate announces zero cost charges for mining ZCash (ZEC). From now on MinerGate
users will be able to keep the 1% of mined ZEC that had previously been charged as a
commission. ZEC is one of 11 cryptocurrencies available for mining at MinerGate, along with
Bitcoin, Ethereum, Monero, and others.

ZCash is a decentralized cryptocurrency based on open-source code. All payments in Zcash
are visible on the public blockchain, although the sender, receiver and the amount of money
transfered remain confidential. This ensures the privacy and selective transparency of
transactions.

ZEC’s level of anonymity was been noted by WikiLeaks, which has started accepting donations
in the currency; NSA whistleblower Edward Snowden, who called ZCash the ‘most interesting
Bitcoin alternative’; and Europol, which has struggled to keep up with the currency’s privacy
measures.

As 19th largest currency in terms of market capitalization ($385M), ZCash has an emission
capacity of 21 million coins. New blocks, weighing 2 Mb each, are created every 2.5 minutes.
The reward for a found block now comes out to 12.5 ZEC, but this figure will be reduced by half
in October 2020.

About MinerGate
MinerGate is an established mining multi-pool with more than 3.5 million miners worldwide,
supporting 11 major coins including BTC, ETH, XMR and others. MinerGate provides miners
with a high quality service with 99.99% uptime, withdrawal amounts starting from 0.01 coins,
and smart mining features. They have recently launched a brand new BTC mining pool , its
first public SHA-256-based pool, opening new frontiers for listing SHA-256-based PoW
cryptocurrencies.

Oliver Smith

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