Author: Peter Todd 2016-03-02 18:20:28
Published on: 2016-03-02T18:20:28+00:00
On March 2, 2016, Luke Dashjr proposed a hardfork to Bitcoin's difficulty adjustment algorithm in order to mitigate the risk of a significant drop in mining rate. BtcDrak claimed to have tested code for this in his altcoin, which may be ready in time to be deployed alongside SegWit before the upcoming subsidy halving. However, changing the difficulty adjustment algorithm could significantly alter the security of the system and allow attackers to create fake chains with less hashing power. Therefore, Peter Todd suggested that a simple fixed difficulty adjustment would be more appropriate, as rising transaction fees would make this issue a one-time problem. Todd also warned against introducing new algorithms with controversial security trade-offs.
Updated on: 2023-06-11T04:18:38.843589+00:00