Navcoder Keygenguru. The difficulty drop consensus rule creates an interesting scenario as follows: Consider the following simple scenario: • Miners wait for difficulty to down significantly low (they can mine BTC meanwhile) • They mine 2016 blocks very fast. • Back to step 1 With a stable hash rate (stable referring to amount of hash power such that 2016 blocks are mined in 2 weeks), miners can wait for some periods of 12 hours and then mine. Assuming stable hash rate, some basic calculations I did showed that it is possible mine 2016 blocks in 6.3 days while maintaining the same difficulty across periods. I think the problem is even worse because the potential hash power(BTC + BCH) which can mine bitcoin cash is atleast 5 times higher than stable hash power.

I think such a faster rate of coin generation is problematic as it would lead to faster halving(less than 2 years), which leads to faster rise of transaction fees. This leads to the very problem for which bitcoin cash was created to solve. Furthermore, faster generation of coins will also lead faster into unexplored lands of comparable transaction fees overcome block reward incentive.

This is a big problem because if 95% hash power can meetup at a place, it is quite easy to collude for this profit as it fits perfectly in the consensus rules for Bitcoin Cash. Miners are also not necessarily bound to Bitcoin Cash, since they have main bitcoin to fall back on. A simple solution would be remove the rule by adding a Soft Fork. Download Tamil Karaoke Video Songs Free. I am sure that that the scenario has been considered before designing REQ-7 of UAHF spec, but I feel these consequences do not justify the rationale.

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I intended this for a mailing list discussion, but I can't seem to references to it in bitcoinabc.org or bitcoincash.org. To add to this, Miners can easily manipulate timestamps in history to produce fake difficulty drops while continously mining blocks.

As an example, • They create blocks 2016 blocks with timestamps at t+1 sec. T +2016 secs. • Difficulty bumps up 4 times. (difficulty can bump up maximum 4 times) • Miners mine blocks at t + 2016 sec + 2 *k hours(k=1,2,3,4,5,6.) till the difficulty goes significantly low again. They have gained this time in 'real world' by manipulating timestamps in 'blockchain time'. Fast Mining is also highlighted by the last period of 2016 blocks which should have lasted 2 weeks but was very short(3 days?). Miners follow the profit and the profitability depends on the price and difficulty.

The price can change very quickly (global crypto-market attracts big money as we know:) ). In order to balance the profitability quickly the difficulty has to ajust quickly as well. The solution has to include the reduction of a target interwal to a small amount of blocks (down from 2016). Small block target number means stable system. I am new to GitHub and have only registered to participate in your discussion. How will the decision be made whether to make the appropriate adjustment or not?

I think the adjustment system should reflect the old as much as possible, so it retains as many of the same properties as (pre-fullblock era) bitcoin as possible. But it should be updated. The 2016-block average has seemed to work well as a basis to set target, and minimized opportunities to game the system, however it is a little too coarse.

A better way to do it, while keeping the same properties, would be retain the 2016 block average, but adjust the target on a more regular basis, perhaps every 144 blocks. This would make the network a little more responsive to changes in hashpower, while retaining as many of the good properties of the original difficulty adjustment as possible. (This would be post-HF to remove EDA, once the price/hashpower disequilibrium quiets down.). Uint32_t GetNextWorkRequired( const CBlockIndex *pindexPrev, In summary: diff = old_diff * (2 weeks) / (interval) but old diff is the difficulty after EDA.