Dual mining is the simultaneous mining of two coins. Dual mining became especially profitable in 2017 when getting coins in this way started bringing very high profits. Not all coins can be mined simultaneously. For example, you can do dual mining of, say, Ethereum and Zilliqa.
Before we move to dual mining though, let us have what these coins are. Of course, you have heard about Ethereum. It is one of the most popular coins. Ethereum is not only a coin but also an infrastructure, a network that allows developers to build their own projects on top of the ETH infrastructure and supports Smart Contracts and DeFi.
Zilliqa is a blockchain project launched by the National University of Singapore. Zilliqa creators say the project is smooth, speedy, and cost-effective. Now, you can swap ETH to ZIL on some exchanges. If you believe that looking for a reliable service with the best exchange conditions is too time-demanding, use Alligat0r. The aggregator chooses the best deals among multiple exchanges and offers a user a list with the deals to choose from. With this service, you can forget about crypto exchange rankings. It looks for available deals, compares and calculates the rates and conditions, and provides you with ready data arranged in a list.
Dual Mining – Dual Profit?
Well, not exactly. It would be too easy if it were like this. Let us check how it all works to find out whether mining Ethereum and Zilliqa is more profitable than producing just Ethereum or if it is just a smart marketing move from the side of the Zilliqa team.
Zilliqa is known as an eco-friendly coin. Only one minute from approximately 1.5 hours of time is needed to mine Zilliqa. When dual mining is performed, the rig mines Ethereum. Just for one minute every 1.5 hours, it switches to ZIL. Once ZIL is mined, the rig switches again to ETH.
It seems that such an approach shall be more profitable. And indeed, why not earning additional ZIL coins while getting ETH?
Don’t hurry to make conclusions, however. Do you remember about the one minute spent every 1.5 hours on ZIL coin instead of ETH? If we had spent this minute on ETH instead, we will mine more ETH coins.
An experiment performed by miners has proved that without switching to ZIL, a rig is able to mine 0.013 ETH more during one day than when it switches to ZIL every hour and a half. While only 39 ZIL coins are mined during one day of ZIL dual mining. Considering that ZIL is cheap indeed, its price hasn’t reached even one dollar, and ETH is considerably more valuable (more than 3,000 USD), you can calculate without any major issues that dual mining doesn’t mean double profit. On the contrary, it doesn’t mean any profit at all but instead, you lose more than you earn.
As you can see, ZIL double mining is rather a smart marketing strategy rather than a way to gain more profitg. However, when ZIL will grow in value, there is an option that dual mining will start bringing profit rather than losses. Whether Zilliqa is going to grow to the extent to make dual mining profitable, is a completely different question though.