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Zcash Hashrate Suddenly Explodes, Taking Its Toll on Mining Profitability

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Thu, 04/25/2019 - 12:00
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According to the most recent Diar report, the hashrate of privacy-centered coin ZCash has exploded this month. On Apr. 22, it reached its brand-new peak of 4 GigaHash/s, which is a huge increase compared to the 2.7 GigaHash/s recorded on Apr. 1.

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Record-breaking numbers

Overall, the hash power of the popular privacy coin has risen by more than 42 percent since the beginning of 2019. ZEC has recorded a gargantuan 950 percent increase since 2018 after it became the darling of cryptocurrency miners. Back in July 2018, Zcash mining was 400 percent more profitable than Bitcoin.

The increase in hashrate becomes even more unprecedented if one considers the fact that the number of transactions has been at the same level for seven months.

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Looking forward to Zcash’s halving

The gargantuan hashrate is certainly not a cause of celebration since it negatively impacts the profitability of mining. At the end of March, the profitability sharply increased, which ostensibly made many brush the dust off their miners.

Zcash is on the verge of its halving, which is expected to take place in 2020. The coin’s high inflation rate might shoo away some Bitcoin investors. However, its low supply of 21 mln might eventually give a significant push to the ZEC price if there is mainstream adoption.

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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Gamblers Are Driving Force Behind dApps Growth: 2019 H1 DappReview Report         

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Sun, 07/14/2019 - 15:00
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  • It appears that many cryptocurrency enthusiasts are willing to roll the dice

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Contents

The recently published report by DappReview encompasses everything related to the growth of decentralized applications (dApps) in the first half of 2019. When it comes to the most popular category of dApps, gambling ones appear to be in the lead by a big margin.

Upping the ante

The “Casino” category has the biggest chunk of the pie with 606 newly created dApps. For comparison, there are only 398 gaming dApps, which occupy second spot. “High-risk” dApps are trailing behind the gaming ones with 358 newly created apps.  

DappReview explains that the main reason behind their popularity is that they are relatively cheap and easy to create, but, nonetheless, they generate great returns for their developers. 

On top of that, there doesn’t seem to be a shortage of risk-loving crypto enthusiasts. 

dApps are doing just fine

Overall, the report points out that rapid growth has become a new trend in the dApps department. More than 1,114 dApps have been already created this year. Tron boasts the biggest amount of newly created dApps while Ethereum and EOS come in second and third places respectively.

Notably, only one percent of users tried more than ten dApps, but they are responsible for the lion’s share of the total transactions on each of the aforementioned networks.

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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