ZCash miners and developers earn $1 billion

Posted 06 November, 2019

Members of the ZCash (ZEC) ecosystem, miners and developers, have earned collectively $1 billion in revenue including founders’ rewards. This is evidenced by the data of the analytical service Coin Metrics.

"Congratulations to ZCash miners who have now collectively earned US $1bn in revenue (incl. founders rewards). Still interesting to see that only 5-7% of $ZEC is utilizing shielded pool(s)." - tweeted service. 

Meanwhile, the daily fees earned on the ZEC network saw a drastic drop from $367 to just $19. Its all-time low has been in February 2017 at nearly $4 while ATH has been at $10.000 during the bull rally in December 2017. For comparison, the amount of commissions mined by Bitcoin miners now is $400.000, while the historic maximum was fixed at around $21.4 million.

Coin Metrics data also indicates that in private transactions, the possibility of which ZCash provides, in the total amount of 5-7%. Not least of all, this is due to the fact that many cryptocurrency exchanges do not accept transactions from anonymous addresses.

It is worth noting that back in September, the Zcash development company reported losses. Meanwhile, they want to make Zcash compatible with Ethereum. And this is despite the fact that cryptocurrency has vulnerabilities.

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06 November, 2019 13:47

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06 November, 2019 10:31

Bitcoin mining still not banned in China →

Contrary to earlier reports, the Chinese government has decided not to eliminate the cryptocurrency mining industry from the country in a new final plan. The National Development and Reform Commission (NDRC) of China, has published a final "Industrial Structure Adjustment Guidance List".

Bitcoin mining still not banned in China
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