One of the most promising cryptocurrency systems available is called Firo, which at one point competed directly with Ethereum in terms of profitability. Significant modifications to the platform took place about a year ago. In particular, they influenced the consensus method, which became much more complicated. This affected the mining of Zcoin, the token of the Firo platform. This article talks about how the mining of the coin developed, how these changes affected the technological side, and how effective and important the mining of this cryptocurrency is now.
Before delving into the process itself and all its subtleties, it is important to understand the features of this cryptocurrency and how it works.
Firo, sometimes referred to as Zcoin, is a completely private coin. This cryptocurrency was the first to use the Zerocoin consensus mechanism, the key characteristic of which is the complete anonymity of the owner of the coin. Anonymity is achieved by creating a secret number and a specific numeric value, which are then combined to form a cryptographic code.
In order for the data to be usable, the code itself is used to create a block on the blockchain. While anyone can identify and access the cryptographic code, it is not possible to contact the owner using it. They are destroyed before use, so it is difficult to determine the number of tokens in the user’s account, which is another characteristic of the coin that provides even greater secrecy.
Information about Firo.
The Firo coin ranks 488th among cryptocurrencies in the world. The coin is expected to be worth $2.09, with RUB 1,766,001,228 being the value set to indicate the total value of all coins. About $3 million is the daily total turnover of Zcoin. The price of this cryptocurrency has stood at $139 for the past five years, which is its all-time high. It can be said that the value of the cryptocurrency is currently constant because there have been no sudden drops or rises.
The new Merkle Tree Proof consensus algorithm has improved security performance against, for example, hacking and ASICs (although it obviously does not protect against a 51% computational advantage), but has also made it much more difficult to mine this cryptocurrency due to the fact that the blockchain is complex. But even under more challenging conditions, bitcoin mining is still relatively possible.
Since AMD graphics cards are still not very suitable for Zcoin mining, and the profitability on these computing devices will be somewhat lower, it is currently more profitable to mine Zcoin on Nvidia graphics cards. Zcoin mining requires graphics cards with at least 6 GB of internal RAM as a basic requirement. In addition, you will need a decent amount of RAM, starting at 4 gigabytes. It will be extremely important to expand the swap file by 16 gigabytes if mining will be done on the Windows operating system; otherwise, there is a high probability that the miner will freeze and numerous problems will arise.
Installing multi-core processors on a Zcoin mining farm is advisable, and the number of cores should correspond to the number of video cards installed in the rack. This was done due to the lack of processors for standard consumer PCs when mining cryptocurrencies with one video card, which completely utilizes one processor core.
Video cards for mining Firo.
The RTX 2060 is the graphics card on which Zcoin mining brings the most profit. Mining this crypto has become more energy intensive as a result of the algorithm modification, so you should use more powerful cards that also consume more energy, such as 2070 Ti or 3080, which are unprofitable to use.
For mining Firo, video cards with the following hashrates are suitable:
1) Video card Nvidia GTX 1060 6 GB, 6 Mhash/s
2) 1Mhash/s and 2.65Mhash/s for Nvidia GTX 1070 and 1070ti.
3) 3 Mhash/s Nvidia GTX 1080.
4) Nvidia RTX 2060 and above in this series with a clock speed of 1 to 4.3 Mhash/s.
5) Nvidia RTX 3060 and higher on line, 6 to 6.4 mega hashes per second.
The hashrate when mining on AMD cards will not exceed 3.4 megahash per second. It is also possible to use video cards from the manufacturer AMD, although in this case the profit will be significantly less than when using video cards from Nvidia.
Video card settings.
Due to the greater security required for the Merkle Tree Proof consensus process, as discussed earlier, the computing hardware will be extremely heavily loaded and require a significant amount of power. As a result, for overclocking it is necessary to increase the voltage, power consumption and frequency of the core. The balance must be maintained; Otherwise, the video card will simply burn out.
If at all possible, the frequency and minimum OP time should also be increased, as these will have a beneficial effect on the expected efficiency of the mining farm. DDR-4 at 3200 MHz can help here.
The cooling system must be repaired immediately so that the failure does not require replacement of computer hardware.
Firo mining income.
The most accurate way to determine potential profitability when considering the technical aspects of the equipment and calculating the approximate energy costs is to use bitcoin calculators.
The efficiency of mining this cryptocurrency is usually questioned due to the high requirements for computing equipment and the high level of power consumption. Also, Firo’s unimpressive exchange rate on the market may put some miners off. However, with the right strategy and reasonable investments, mining this cryptocurrency can be very profitable. for a decent, stable salary.
Advantages and disadvantages.
1) Relatively simple requirements. Zcoin can be mined using fairly cheap equipment.
2) Complete secrecy. The Firo blockchain infrastructure uses specialized technologies and protocols that allow the coin to fully protect the anonymity of its owner.
3) Video card mining. Zcoin can still be mined with GPUs, unlike top cryptocurrencies whose blockchain structure is so complex that ASIC hardware is used exclusively for mining.
4) Safety and justice. The transition to a new cryptocurrency algorithm protected the system, preventing hackers from trying, and also equalized the chances of distributing coins between miners.
1) Low financial success. The price of the Firo token is quite low right now, but there is a lot of room for future growth.
2) The complexity of the algorithm. Since, due to the complexity of the algorithm, the operation of energy devices consumes more energy, mining has become more difficult.
Algorithm adjustments allowed Firo to be much more successfully protected from hackers, and the token gave rise to the same circumstances for the creation of Zcoin. However, this ultimately led to an increase in the high cost of mining. Despite all this, this coin is still one of the most intriguing alternatives to Ethereum as Firo can be mined with a GPU, unlike Ether which is increasingly switching to using ASIC miners.
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