Zcoin, or now it is called FIRO, is a coin running on the Zerocoin protocol, and by the way, it was the first time the mentioned protocol was implemented. This protocol was initially an extension of Bitcoin and its aim was to make transactions in the Bitcoin network anonymous.
However, it has never happened, and as a result, in 2016, Zcoin was introduced. Now, you can buy FIRO on Letsexchange.io – instant crypto exchange and a number of other instant exchanges.
Some Words about FIRO
FIRO is focused on anonymity. It allows one party to perform a transaction without knowing the data of the other party. It is too complicated though and deserves a special article, and here, we are going to talk more about how to mine FIRO.
FIRO Mining and Its Specific
As you could have expected, FIRO is ASIC resistant. Therefore, there is no use in investing in an ASIC miner to mine this coin – you won’t earn anything. However, it is mined efficiently with a GPU or even a CPU – it makes the mining accessible to a wider variety of people by lowering the entry-level. It is possible thanks to the utilization of the Merkle Tree Proof consensus algorithm. Therefore, even though the coin is mined with cheaper devices, it doesn’t sacrifice fast transaction validations.
Now, some more words about FIRO mining.
- First, you need to prepare the required hardware.
- Download the software required for the selected miner.
- Install the software and set it up if needed (you will see the instructions).
There are some details worth mentioning about FIRO mining. The Merkle Tree Proof protocol makes the process pretty difficult, so many miners have quit the activity. But we shall tell you that if you choose the software and hardware that complies with the minimum requirements, your mining activities can be pretty successful. If you choose the hardware and software correctly, you can start mining FIRO successfully from your computer. Make sure though that at least 8 GB RAM is available on your device.
What Software to Choose?
Among a huge variety of GPU cards, you need to select the best ones because otherwise, FIRO mining will not deliver the expected results. Here, we have selected some options for you to choose from:
- NVidia miner for Zcoin.
- CPUMiner for Zcoin, to mine on CPU.
- AMD Miner for Zcoin, to mine FIRO with AMD cards.
Is FIRO Mining Profitable?
If you check the statistics, you will see that the coin is prone to immense price fluctuations. It means that sometimes, you might have also lows, not only highs. However, if you choose the software and hardware properly, and set it up as required, you can count on positive results.
Even though the coin value fluctuates drastically, it is common to all cryptocurrencies, except for stablecoins, of course. Therefore, you can analyze the project utility to find out whether the coin price is going to increase in the long run.
When it comes to FIRO, we cannot deny that the coin is trying to bring something unique to the crypto world. But judging from the price changes, investing in it might be too risky. While you can try mining – you are not risking too much with it.
The historical maximum of FIRO was 132 USD. However, recently, the coin price has been fluctuating around 3-7 USD, with rare surges to up to 20 USD which differs from the peak significantly. All in all, FIRO has some utility, and its price still might be growing.
Therefore, you can try mining it. In the long run, you might end up with some profit. Though, to tell the truth, we do not think its value is going ever to come close to the value of leading coins and therefore, you can hardly count on becoming a millionaire from FIRO mining.