Explain the Concept of a Multi-Algorithm Mining System ▴ Learn

Explain the Concept of a Multi-Algorithm Mining System.

A multi-algorithm mining system requires miners to use different hashing algorithms for different parts of the block production process or across different epochs. For example, a coin might require two or more distinct algorithms (like SHA-256 and Scrypt) to mine a block.

This forces an attacker to acquire majority hashrate for multiple, often incompatible, types of mining hardware (e.g. ASICs for one, GPUs for another).

This diversification significantly increases the capital expenditure and logistical complexity required to mount a 51% attack, thus enhancing security.

Are There Any Cryptocurrencies That Have Successfully Transitioned to a New, More Secure Hashing Algorithm, and What Was the Impact on Their Valuation?

Do Cryptocurrencies That Use Different Hashing Algorithms, like Scrypt or Ethash, Exhibit Different Volatility Patterns in Their Derivatives Markets?

Compare the Capital Cost of a PoS Attack to the Energy Cost of a PoW Attack

What Are the Two Main Types of Interest Rate Swaps?