Reward having is one of the common elements of most of the cryptocurrencies. It affects the coin supply, mining difficulty and price. In fact, it helps a cryptocurrency to live longer. The Zcash upcoming halving may help to decrease its annual inflation rate and the coin will become more profitable for miners. In this article, we are going to talk about how to remain profitable after Zcash halving.
The halving mechanism is designed in order to decrease the generation of new coins and inflation as well. As we mentioned above, it helps a cryptocurrency to live longer in the market.
Bitcoin experienced its third halving back in May and the block reward reduced to 6.25 BTC. Now, Zcash is going to experience its first halving sometime in November. In fact, the Zcash halving happens when the block number 1,046,400 is mined.
Here we are going to take a deeper look at how to stay profitable after Zcash halving.
How to remain profitable after Zcash halving; maximize post-halving profits
The first Zcash halving will increase the network difficulty. Consequently, it requires more powerful hardware in order to stay profitable on the network.
There are two ways, which could help miners in order to stay profitable on the network. The first is to upgrade the mining hardware. The other could be find a more cost-effective miner hosting strategy.
Most of the current miners are using Bitmain’s Antminer Z9 and Z11 as well as Innosilicon A9. In order to stay profitable, the miners require upgrading their hardware to Antminer Z15.
The Zcash miners could take a lesson from Bitcoin miners. The lesson is, they do not have to wait long until the halving takes place. It’s better to upgrade the mining hardware earlier than halving. In fact, choosing a reliable hosting provider and upgrading the hardware as soon as possible are the two strategic solutions in order to stay profitable this November and beyond.