What can ETH be mined with (What can be mined with ETH)?

What can ETH be mined with? Why can ETH be dual mined on the ETH mainnet?

There are many people in the Ethereum community who believe that dual mining is an important means to realize the Ethereum ecosystem. However, this statement is not accurate: the concept of “fork” is used in eth2 to split the network (fundamentally) and decentralize it to generate new digital assets. In other words, eth1 and eth2 can interoperate and replace each other, and the purpose of doing this is to involve more people in the network.

So what is dual mining exactly? Let’s take a look. Dual mining refers to miners staking certain coins to obtain a certain amount of ETH, and then using these tokens to vote on that Token. If the result is not ideal, it means that you cannot use this part of the income as a bet, because your Token will always be in a loss state and will not be recovered by the market. Therefore, when a PoW project appears, it is basically just a speculative tool without real value support. At the same time, due to problems with some nodes resulting in insufficient computing power and slower block generation speed, many transactions require a large amount of electricity cost to complete, which increases the user’s Gas cost. Therefore, a dual reward scheme can also solve the above problems: assuming ETH 1.0’s inflation rate is 5%, about 10 trillion US dollars per year, but now it has exceeded 50% and more. This means that as long as only 2% of the supply is available for people holding ETH to participate in mining every day, the ETH price will be stable! And currently ETH 2.0 has not yet been launched, and there are many developers working to increase its deflation mechanism.

Of course, in addition to ETH 2.0, there are many other ways to improve consensus efficiency, such as the communication protocol between eth1 and eth2, and the staking service in eth3, etc. In addition, the contract address on eth3 can also be verified if it is successful through http://etherscan.io.

What can be mined with ETH?

According to ethgasstation.io, the current Gas price of Ethereum is 5 Gwei, which has increased by 200% in the past 24 hours. In addition to using ETH and ERC-20 standards, the technologies that support the ETH and other digital asset networks include: Sushiswap, Uniswap, and Curve. In addition, a new feature is a protocol that can be integrated into the Ethereum ecosystem—SushiswapLP token.

In essence, Sushiswap is a decentralized exchange (DEX) that allows users to trade cryptocurrencies through smart contracts, without relying on third-party service providers or intermediaries like traditional exchanges. Unlike other projects, Sushiswap adopts an “order book” structure, which does not require any intermediaries. As long as you have the ability to provide liquidity, you can get rewards, which reduces slippage problems and lowers costs. On the contrary, if they want to make more profits, they need to pay a premium to market makers to increase prices, which can achieve arbitrage opportunities. Therefore, we recommend using ETH for SushiSwap mining.