ZeusHash CEO Terry Li: ‘It’s a Start For What’s Coming’
ZeusMiner recently launched its own cloud hashing service, ZeusHash, and within a week of going live the company had already signed up thousands of users, according to CryptoCoinsNews.
We had a chance to speak with Zeus Integrated System’s CEO Terry Li about his company’s new cloud mining platform.
Cointelegraph: Tell us about some of the unique features of ZeusHash.
Terry Li: First of all, let's start with the boring and usual stuff. All of ZeusHash customers receive real mining output related to our pool. Because we have decent pool size and no pool fees, the coins generated should be 5–15% more than using your own physical miner in public pools.
We are developing something really cool, and all of our customers will be able to take part in within several weeks. A little hint is that we treat hashrate as your asset, and you should be able to use it to exchange for something enjoyable (note: not a good old boring trading platform).
CT: What were some of the challenges of getting ZeusHash ready for launch?
TL: I think we all agree that ever since the start of the crypto industry, the market is mixed with the good, bad and ugly. Unlike buying traditional products and services which fulfill a certain need or provide mental enjoyment, in crypto customers pay for something that can easily and only be quantified in terms of ROI.
No matter what you are performing under the hood, most would value the service based on only one metric — time to ROI. Therefore, running a deceptive or even Ponzi scheme might be able to attract most eyeballs based on that metric.
Although we faced doubts and criticisms for not giving payouts better than some platforms, luckily for us Zeus already has an established name that we can be trusted. We are seeing overwhelming signup rates since we got out of beta.
CT: You're also accepting pre-orders for the Volcano. Does the launch of a cloud-mining service offer customers conflicting incentives if they were thinking of ordering a Volcano?
TL: These are two different market segments. Due to setup difficulty, cost of electricity, noise or space constraints, most people have trouble running decent amount of miners at home. They are better off using ZeusHash service, which we lift all the heavy stuffs off their shoulders.
For the hardcore miners, which some might have access to super-low electricity costs, sophisticated in day trading alt-coins, or love to push the hardware potential, this crowd would want a physical miner delivered to them.
CT: How do you feel about how ZeusHash stacks up against other offerings such as GAWMiner's Hashlets?
TL: I believe there are a lot of reviews already being done. Aside from basic service like mining crypto, a lot of fun stuff is coming your way which would make us stand out of the whole cloud hashing crowd. Stay tuned.
CT: How does ZeusHash fit into the company's overall business goals? What do you expect to achieve by diversifying your offerings this way?
TL: ZeusHash is the next level in user experience improvement for mining and other crypto applications. Moving to the cloud is natural for most miner manufacturers/distributors, as it's much simpler to set up and higher yield for most end customers. It's a start for what is coming.
CT: Do you have plans to allow for mining coins other than BTC and LTC in the future?
TL: As you know, being an ASIC designer and Scrypt ASIC miner manufacturer, it is easy for us to implement alt-coin mining especially when it is Scrypt based (obviously). But first we want to establish a solid groundwork before offering diversified services.
To work with what we have planned coming in several weeks, we will stick with mining BTC/LTC for now, as the two are the most commonly accepted currencies.