If you have some knowledge about ZCash/ blockchain, I believe you are no stranger to mining pool. As the competition of mining becoming more and more intensive, it is almost impossible to get a mine with a single person’s effort. Join the mining pool and become a member of the miner, and you will be allocated with certain proportion if a mine is dug. The mining pool gives everyone the opportunity to contribute their computing power, which is eventually allocated among all miners in proportion to their contribution.
The mining pool makes it easier for mining, allowing everyone to participate in the Zcash mining and achieving the ideal model of blockchain economy. The blockchain economy emphasizes transparency and openness, without fear of being disturbed by hackers or other forces. However, when the huge computing power concentrated in one mining pool, there may be a monopoly of resources. To participate in the operation of the mining pool, one must buy the hardware and install mining software and bear the risks of wearing out of equipment. After evaluating the potential profit and loss, the most important thing is to choose the mining pool with good credit, and this is the first step to the road of mining.
Cloud mining is to collect encrypted currency mainly through the mining center. The virtual currency mining equipment, mining sites, electricity and etc. are provided by the cloud mining companies, while the computing power contracts are signed with the terms of a year. In this way, users can participate in virtual currency mining quite easily.
The contract is the online version of the physical computing power provided by mining machines. Having complicated steps such as mining site choosing, electricity, hardware implementation and maintenance emitted, users can participate in the encrypted currency/ virtual currency mining easily just by buying a contract.
Mining is a process of supplying encrypted currency. Besides, mining can also guarantee the safety of the blockchain system and protect it against fraudulent transactions. Miners can receive two types of incentives in virtual currency mining: new coins for creating new blocks, and transaction fees for the transactions contained in blocks.
ZPool is the world's largest ZCash mining pool, located in Idaho, USA, with its predecessor of the Megabigpower bitcoin mining pool. ZPool is a professional mining pool of ZCash. It started in September 2017 and currently has more than 10% of ZCash's computing power.