Explain the Concept of ‘Merged Mining’ and Its Security Benefits for Altcoins.
Merged mining allows two different cryptocurrencies, based on the same PoW algorithm, to be mined simultaneously using the same computational work. The altcoin (secondary chain) benefits by leveraging the massive hashrate of the primary chain (e.g.
Bitcoin), making it significantly more secure against a 51% attack. The miners earn rewards on both chains, providing an economic incentive to secure the secondary chain.
