What is the meaning of etc and sz dual mining (eth and etc dual mining)?

08/10/2023 20:24 • Blockchain Briefs • 66 views

What is the meaning of etc and sz dual mining? Due to the performance issues of the Ethereum blockchain, mining has become more complex. To avoid double-spending attacks (repo-chaining), many people use eth and sz as substitutes for conducting transactions, sending messages, receiving payments, and other operations within the same block. Thus, this situation has emerged.

However, both of these cryptocurrencies have their advantages. Firstly, when a network is under attack, users can transfer their controlled Bitcoin from the wallet address through double-spending attacks. Secondly, these funds will be transferred to another system to pay fines and impose sanctions on hackers, and if there is a threat of more than 51% of the network’s computing power, this node may become a victim. Of course, many people believe that it is necessary to crack it since that is the case. (Note: This article solely represents the author’s viewpoint)

Eth and Etc Dual Mining

Ethereum 2.0 deposit contract addresses have executed eth and etc dual mining. ETH’s PoW consensus mechanism is used to validate transactions, enabling it to run fully on the main network. Therefore, when miners on both chains reach consensus, they need to use the other network to support their Proof-of-Stake (PoS) algorithm. This means they can simultaneously participate in various activities (staking, rewards, fees, etc.) occurring on the Ethereum and ETC blockchains.

To ensure the security and consistency of both chains, eth2 adjusts its hash value based on data submitted by different types of validators on the network. If enough nodes agree to this proposal, the network’s development will be facilitated by adding a new PoW algorithm. (Bitcoinist)

Earlier reports announced that the EthCC development team is collaborating with ethswap.org to provide liquidity solutions for ethStaking on EthCC. The project also plans to launch a new protocol called “ethStakingRewards” in the future, allowing users to create new DeFi tokens and earn profits by using their own ETH or other ERC-20 assets as collateral. (CryptoBriefing)

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What is the meaning of etc and sz dual mining (eth and etc dual mining)?

Eth and Etc Dual Mining

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