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What does eth dual mining mean (dual mine eth etc)?

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What does eth dual mining mean? Editor\’s note: This article comes from Ethereum

What does eth dual mining mean (dual mine eth etc)?

What does eth dual mining mean? Editor’s note: This article comes from Ethereum enthusiasts (ID: ethfans), authored by Eth2, translated and proofread by Min Min and Ajian; authorized reprint by Odaily Star Daily.

After the completion of ETH2.0 merge, users need to stake 32 eth into the new deposit contract to get rewards. During the merging period, ETH rewards will be distributed to participants through dual mining.

In simple terms, it means putting all ETH into a new account and using these ETH to provide liquidity for one’s own transactions, making the entire system more efficient and decentralized. (Referring to users who have already started using ETH as collateral).

Therefore, if someone wants to obtain more funds through this, they must store them in an exchange. Since exchanges regularly pay fees to their customers, they may choose not to support this method. However, for those who do not want to use ETH, this carries a great risk. In other words, if you want to use ETH, you only own a portion of ETH, and you cannot withdraw your ETH from the exchange.

Of course, some people believe that this is because all operations running on the Ethereum network will occur with errors. For example, recently, there was a large-scale phishing event using flash loans, resulting in a significant loss of ETH. Some developers have stated, “We should stop using this strategy until the problem is solved.” However, in reality, there is another possibility that over time, more such incidents may occur:

“If miners continue to maintain their hashrate, or if their validation nodes are not affected…would I rather give up my mining rewards? Or directly blacklist them?” What does eth dual mining mean? First of all, it is a simple protocol upgrade that allows ETH holders to update their wallets according to specific rules. In addition, the protocol also includes a new smart contract.

Prior to Ethereum 2.0, there was a proposal called EIP-1559, which planned to introduce a new mechanism called “StakingRewards” (locking assets) to allow ETH holders to send their tokens back to a designated wallet address faster, thereby reducing gas fees and increasing the utilization and value of ETH. However, now ETH no longer accepts staking and adopts the PoW consensus algorithm.

Dual mining of eth, etc.

According to MEET.ONE reports, the Ethereum 2.0 deposit contract address has received eth (eth). The ETH/BNB network now supports dual mining, which means that through dual signatures, users can make their EVM contracts compatible with their designated clients. When both clients are running and they communicate using the same method, two results will be generated throughout the process: eth-bns and eth-extc. If both coexist and there are no issues, then a problem arises – validators cannot participate in it.

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