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Ethereum, the second-largest cryptocurrency by market cap, revolutionized blockchain with smart contracts. This article delves into Ethereum mining, explaining its unique mechanisms compared to Bitcoin.
- Ethereum uses an account-based blockchain and EVM for smart contracts, unlike Bitcoin's UTXO model.
- Gas, priced in Wei, is essential for transaction processing, with limits set by users to manage computational costs.
- The GHOST protocol mitigates orphan block issues by rewarding miners of uncle blocks, enhancing network security.
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