Zilliqa is a comparatively new project based out of South Korea that has the potential to be one of the widely-used, dominant cryptocurrencies. Its blockchain boasts of high throughput capabilities via a process known as Sharding. This method is pretty efficient, as around 2800 transactions per second can be processed, which is much more than Bitcoin or Ethereum. Zilliqa mining is done through the Proof of Work (PoW) Consensus mechanism along with Practical Byzantine Fault Tolerant (pBFT) protocol. This process can fetch greater rewards as performing one PoW can write multiple blocks to the chain.
In the past, the development team opened up public mining on the testnet as the Zilliqa setup is different from others involving PoW, pBFT, and sharding; hence that the miners have sufficient time and opportunity to test the mining process. So, to help identify the improvements needed for the security and stability of the mainnet, this was done much before the mainnet was released.
As we have already discussed, Zilliqa is one of the potential coins, but along with that, it is energy-efficient as well when compared to other PoW based blockchains. Around 12 hours of PoW is required every month, and for some time, the graphics card is involved, rest of the time it stays idle. This particular kind of mining is more environment-friendly as compared to the others and even reduces power consumption.
The mining network is segmented into many Consensus groups where each one of them will be able to process the transactions simultaneously. Sharding enables the cost to be maintained with a steady value as the network grows. On the other hand, with conventional blockchains like Bitcoin and Ethereum, the cost per transaction becomes high. The miners usually give precedence to the transactions with higher fees because of limited throughput. ( Zilliqa mining profitability)
The best part is that Zilliqa’s model incentivizes the number of transactions processed, which enables individual transaction fees to be reduced but still providing great compensation to the miners through aggregated fees. (Zilliqa mining calculator)
Zil Farm is an increasingly popular Zilliqa mining pool that boasts of an extensive feature set that most of the miners appreciate. Some of the notable features of the Zilliqa pool are anonymous mining, accurate hash rate reporting, high powered servers, and exceptional customer support.
Zil Farm’s current rate is 30 ZIL per share, which might increase in the near future as the team is working on that. Just remember, although ZIL uses Ethash algorithm, it’s comparatively difficult as it’s mined every 2-3 hours for exactly 1 minute as it uses Practical Byzantine Fault Tolerance (PBFT) for their consensus. The rest of the time, it remains idle.
You can go for “dual mining”, where you can mine other tokens until the epoch time comes around. ZilMiner is a Zilliqa mining software, which supports Zilliqa mining for windows.
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2019-02-07 13:14:10.491656 | 2 min
2019-12-06 08:08:28.712387 | 2 min