We use ours for a different reason than most people. Our harbor has a large stream dumping into the bay right next to the west harbor entrance and a river (Nooksak) entering the bay a couple of miles away. The circulation of water in the bay means the harbor has a layer of fresh or nearly fresh water on the surface pretty much year round. On boats like ours, the transom zincs are only a few inches under the surface. This renders them much less effective in our harbor than if the surface layer of water was more conductive. Which means the zincs that are doing the hard work are the shaft zincs that are below the layer of fresher water (as are the through hulls, props, rudders, etc.). The shaft zincs are much smaller and disappear much faster than the license plate zincs.
The solution is to hang a zinc down into the much more conductive salt water under the layer of fresh or brackish water. Thus the eight foot cable.
Many of the boats in our harbor do this, and it extends the life of deeper water zincs like shaft zincs by quite a bit. If we were in a harbor with "full strength" salt water from the surface down we wouldn't use a hanging zinc at all.
Obviously we need to remember to pull the hanging zinc up before we move the boat, so my wife made a big red fabric stop sign that says "Zinc" on it that we hang on the shift levers when the zinc is down and remove when the zinc is up.
A nice benefit of the hanging zinc is that since we can simply pull it up, we have an ongoing check of how conditions are in the harbor. If the hanging zinc starts going away at a faster rate than normal then we know there might be somehting going on, either with our boat, a neighboring boat, or the harbor's power system. So far in 17 years we've not had any abnormal dissolve rate on the hanging zinc or the boat's zincs which we have checked by a dive shop every six months.
The hanging zinc goes away at a faster rate than the two license plate zincs because the hanging zinc is in a much more conductive environment than the zincs on the transom. Our harbor is rather "hot" and the standard Martyr Diver's Dream license plate zinc needs to be replaced every six months or so. From what I've been told by other boaters and the dive shop we use, this is about average for the boats in our basin. I don't know what the conditions are in the other basin. I can replace the license plate zincs myself but we obvously need a diver for the shaft zincs (we have two on each shaft).