How to Mine Zephyr ZEPH: Settings and Profitability of Mining a Privacy-Focused Cryptocurrency

May 16, 2024

In February, the cryptocurrency exchange Binance delisted the Monero XMR cryptocurrency. The news was not pleasant, but given the trading platform’s issues with the U.S. Department of Justice and the prison sentence for Changpeng Zhao, this was expected. Fortunately, there are plenty of new projects focused on privacy, and some of them use technologies from Monero. One of these projects is Zephyr (ZEPH).

Contents

What is Zephyr ZEPH Cryptocurrency
Zephyr ZEPH Exchange Rate
Where to Buy Zephyr ZEPH Cryptocurrency
The Best Wallets for Zephyr Cryptocurrency
Profitability of ZEPH Cryptocurrency Mining
Setting Up Zephyr ZEPH Mining
- Solo Mining Zephyr ZEPH
- Setting Up Zephyr ZEPH Mining on Miningrigrentals and Nicehash

What is Zephyr ZEPH Cryptocurrency

As noted on the official website, Zephyr is an overcollateralized stablecoin project that is also untraceable. According to the developers, it is the first confidential stablecoin system with appropriate reserves to guarantee the stability of the corresponding token’s rate.

The project's foundation is a combination of the Djed stablecoin protocol from developers Emurgo, IOHK, and Ergo Foundation, and privacy features from the Monero network. These include hiding the recipient's address and transaction amount. As noted by the developers, this makes the evolution towards true "digital cash" much more tangible.

The aforementioned Djed stablecoin protocol uses three tokens — base coins, stablecoins, and reserve coins. Here is their detailed description:

Zephyr (ZEPH) — the cryptocurrency at the core of the Zephyr protocol, functioning as the base coin and reserve asset of the decentralized protocol based on Djed;
Zephyr Stable Dollar (ZSD) — an overcollateralized confidential stablecoin of the Zephyr protocol. Its rate is pegged to the dollar, while the stability of its value is ensured by ZEPH reserves;
Zephyr Reserve Share (ZRS) — a share in the protocol’s reserves, representing a stake in the financial health and future success of the entire project.

Reserve providers contribute their ZEPH to the project’s reserves and receive ZRS in return, reflecting the corresponding share in the overall capital. The emission of the ZSD stablecoin occurs when users contribute an equivalent amount of ZEPH to the reserves while maintaining a minimum reserve ratio, usually at 400 percent.

In practice, this ratio often exceeds 700 percent. This means that the stablecoin should maintain its stability and dollar peg even under conditions of extreme market volatility and trader sales.

Here are the statistics for ZEPH coins in reserves and ZSD and ZRS tokens in circulation.

Zephyr ZEPH Exchange Rate

Today, ZEPH is valued at $7.24, with a project market capitalization of $28 million.

The peak value of the asset at $52.31 was reached on November 23, 2023. Accordingly, compared to that mark, the current rate is 86 percent behind.

However, again, the project is relatively new and has not yet gone through a full bull run. Therefore, making assumptions about the further behavior of ZEPH is simply too early.

Where to Buy Zephyr ZEPH Cryptocurrency

Zephyr ZEPH is traded on several popular cryptocurrency exchanges. These are our familiar MEXC, XT-com, CoinEx, Xeggex, TradeOgre, and Nonkyc. Here is the distribution of platforms by trading volume.

Note that some trading platforms have not only low volumes but also poor market depth. The latter indicates the size of the deal that will change the base asset's price by 2 percent in either direction. For example, buying ZEPH for 11 USDT on the XT-com platform will increase the coin's rate on the exchange by 2 percent, while a similar decrease on Nonkyc will occur after selling cryptocurrency for $23. Considering this, it is better to conduct transactions with your coins — whether it is buying crypto as a long-term investment or selling mining rewards — on platforms with strong liquidity. In this case, it is the MEXC exchange, which will allow you to conduct transactions on better terms and without sharp rate changes.

The project’s website shows various indicators of its health. As can be seen, over the past three months, the number of ZEPH in reserves has been regularly increasing.

This means that the stability of the ZSD stablecoin is also improving.

The Best Wallets for Zephyr Cryptocurrency

The Zephyr developers suggest using the web wallet at this link. To set it up, you need to create a wallet name, enter a password, and save the wallet file.

Then, write down the seed phrase and confirm it in full. After completing these steps, the wallet interface will open — it is simple and easy to use.

You can also use the official wallet at this link on Github.

Traditionally, for accumulating ZEPH and receiving mining rewards, cryptocurrency exchanges are suitable. However, on lesser-known platforms, it is better not to store large amounts for additional security.

Profitability of ZEPH Cryptocurrency Mining

The Zephyr network uses the RandomX mining algorithm, which is also used in Monero. Moreover, the Zephyr hashrate is quite comparable to that of Monero. This means that although ZEPH is a relatively unknown cryptocurrency, it is mined on par with XMR, which remains one of the pioneers in the digital asset industry.

You can mine ZEPH using processors and graphics cards, and you can track the situation with blocks and transactions on the blockchain explorer.

ZEPH is in the second half of the profitability of cryptocurrencies presented in the 2CryptoCalc calculator. For example, here is the situation with eight Nvidia GeForce RTX 4070 graphics cards.

This is logical since Zephyr is primarily intended for CPU mining. So to calculate the current profitability, enter your hashrate on this page.

Do not forget that the 2CryptoCalc calculator does not take into account electricity costs, the rates for which are different for everyone. Therefore, when calculating profitability, this must be considered.

Setting Up Zephyr ZEPH Mining

To mine Zephyr ZEPH on CPUs and GPUs, you should use the XMRig miner. It is available for download in this archive, and the password to run it — 2miners — with no spaces, capital letters, or periods.