Share this article
Demand for Zcash Mining Grows as Blockchain Launch Approaches
With less than a month to go before its launch, momentum is continuing to build around the anonymous cryptocurrency Zcash.
Updated Sep 11, 2021, 12:32 p.m. Published Oct 5, 2016, 8:18 p.m.
With less than a month to go before its launch, momentum is continuing to build around Zcash.
The much anticipated anonymous cryptocurrency project gained a big ally today in hosted mining company, Genesis Mining, which announced that users would soon be able to mine for the digital currency. With the news, customers can now buy miners operated by Genesis, which offers similar services for bitcoin and ethereum.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
But while the genesis block for the Zcash blockchain won't launch until 28th October, the product offering can be seen as evidence that interest in the technology, first announced in 2014, is continuing to grow.
Marco Streng, CEO of Genesis Mining, explained that his interest lies in how the Zcash could complement other blockchain projects. For a cryptocurrency to be viable, he argued, it needs to be fungible (ie one bitcoin has to be indistinguishable from any other) and if there is no privacy, there is no fungibility.
Zcash attempts to solve this problem, as despite what some believe, public blockchains like bitcoin are surprisingly not that anonymous. By simply auditing the blockchain, users can gain insight into whether their coins were ever used for illegal activities, such as on Silk Road.
By using what's known as a zero-knowledge proof construction, a cryptographic proof that allows the sender to prove to the receiver that value has been transferred without sharing any data or interacting, the ledger is able to secure all balances without identities and amounts being shared. Only those that have the correct key can see the actual value of the transaction.
Those interested in mining Zcash should note that the reward follows a similar path to bitcoin's, though with a twist planned around the time of its launch. During the first 34 days, the block reward will gradually increase from 0 ZEC to 12.5 ZEC.
Further, unlike many other altcoins that followed bitcoin's use of the SHA256 algorithm for proof-of-work, Zcash relies on an algorithm called Equihash.
Disclaimer: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Zcash.
Dark keyboard image via Shutterstock
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
APT Gains 1.8% to $1.76 Despite Token Unlock Overhang
Trading volume spiked as institutional players position ahead of $19.8 million supply increase.
What to know:
- APT climbed 1.8% to $1.76.
- Volume surged 46% above monthly averages as traders repositioned.
- Dec. 12 token unlock event creates $19.3 million supply overhang.
Top Stories
