Mining Specifics

Zcash Trading Ticker Symbol : ZEC

Amount of Coins: Zcash is going to follow a model like Bitcoin in that there will be a total of 21 Million coins issued. It is impossible to know how long it will take to mine all 21M coins due to future advances in computer technology and algorithmic difficulty adjustments that will be made by the Zcash team.

Block Rewards: The Block Rewards will issue a total of 50 Zcash (ZEC) every 10 mins. The block spacing is 2.5 mins. It is important to note that the 50 ZEC/10mins Total Reward will not be available from Day 1 (1.0 Genesis Block) see “mining slow start” below.

Block Reward Halving: Every 4 years the Block Reward will be subject to Halving just like Bitcoin.

Founders Reward: The Zcash team has implemented a Founders reward for the people who built Zcash and to a non-profit organization in the form of ZEC issued back to the team. This means that for the first 4 years the Block Rewards will be issued as 80% to the Miners and 20% to the Zcash team. After the first 4 years 100% of the rewards will go to the miners. It should also be noted that Miners will always keep 100% of the transaction fees.

Mining Slow Start : Zcash will be subject to a “Mining Slow Start” meaning that for the first 20,000 blocks there will be a maximum of 12.5 ZEC issued per block in a 2.5 increment. The ZEC issuance curve will ramp up over the 20,000 blocks to the full 12.5 ZEC and the difficulty algorithm will be adjusted as needed. This Slow Start is to prevent “insta-mining” and “fastmining” in the early days of the 1.0 launch and to allow the Zcash team to adjust the ZEC/time algorithm.

Proof of Work: The Proof of Work (POW) algorithm for Zcash is Equihash. Equihash is a memory hard algorithm based off of the Generalized Birthday Problem. The Zcash team is not opposed to adjusting or even completely changing this POW depending on how the network is operating.

Transaction fees: TBD after 1.0 launch depending on wallet implementation.

Credit for much of this information being easy to find is the work of user: notsofast on the Zcash Forums

Page last updated 8/24/16 

RememberZcash is currently still under development and will continue to change throughout the 1.0 public launch in October 2016. I will keep this page updated as often as possible to maintain accuracy but keep in mind all numbers are subject to change by the Zcash team at any time.