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What Coins Can L3 Mine (New L3 Mining)

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What coins can L3 mine? According to official sources, the mining profits of L3

What Coins Can L3 Mine (New L3 Mining)

What coins can L3 mine? According to official sources, the mining profits of L3 mainly come from the interaction between L2 and L1 (swap), transaction fees on L2, liquidity provider incentives, and more.

Specifically, users can generate income by depositing ETH or BTC on L2 to earn L3 rewards. They can also earn fees by providing liquidity to the L3 liquidity pool. Additionally, L3 supports multiple smart contract languages and tools as a blockchain protocol based on Ethereum Virtual Machine.

New L3 Mining

Editor’s note: This article is from Xiaozha Xiantan (ID: xiaonazha88) and authorized by Odaily Planet Daily for reposting.

In the wave of DeFi, new L3 mining has become a norm – a way to increase asset value and transfer value through new algorithms.

The new type of Bitcoin mining, based on the Ethereum blockchain, is a new form of mining, with the cryptocurrency trading platform represented by the coin circle rising.

According to the latest data, the growth rate of “third-generation mining” computing power far exceeds other mainstream “second-generation” cryptocurrency mining projects. However, with the emergence of network congestion, price surges, and rising fees, these old mining devices will face being phased out or exiting the market. After December 15, 2020, the new L3 mining machines began official sales and started operations in mid-November, and are now available for purchase. Currently, they have the following characteristics: 1. Under the new L3 mining mechanism, yield cultivation is possible. 2. In the new L2 mining model, the mining farm needs to choose mining hardware with different ASIC chips and hard disk configurations. 3. With the new mining scheme, more mining players can enjoy the benefits of new technology. 1. The overall network computing power continues to grow. Currently, the total network computing power is about 10 Gwei, an increase of over 400% compared to the peak in 2017. 2. The speed of on-chain for a single machine is fast, making mining more convenient and secure. For many investors, participating in new L3 mining is like buying a computer. However, due to the lack of specialized professionals who have mastered mining software, it is difficult to obtain high income. For ordinary retail investors, direct investment costs can generate higher returns. In addition, the new L3 mining adopts a dynamically adjusted mining system. When a user runs a node, if the node is offline and cannot operate normally, it will lose its revenue space. 2. Upgrading to new technologies. Under the new consensus rules, all nodes need to update their codes to adapt to the new Proof-of-Work (POW) mechanism, thereby eliminating resource consumption issues limited to a single GPU. At the same time, each operation will go through certain modifications, so the performance improvement of the new L3 mining machines will greatly increase the efficiency of miners and reduce losses caused by instability. The new L3 is an iteration of smart contracts. Similar to traditional centralized computing service providers, smart contracts deploy the underlying protocols to the cloud and are built by developers themselves. 5. Optimized sector design. In addition to optimizing the existing block generation algorithms, the new L3 will also add some functionalities, such as supporting the creation of different wallet addresses for multiple accounts and then combining them with the hash values of the same set of numbers. There are also some innovative smart contract modules. 6. Expanded application logic. More Dapps may appear in the future. 7. Adding liquidity and transaction pools. 8. Introducing a new Staking reward mechanism. 9. Adding a locked token reward system.

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