Author: David A. Harding 2016-03-02 19:34:33
Published on: 2016-03-02T19:34:33+00:00
In a forum post, Gregory Maxwell responded to a proposal that would dynamically adjust the difficulty of Bitcoin mining. He argued that the proposal was unnecessary because the current hash rate indicates that it is unlikely for there to be a significant difficulty drop. Maxwell also provided a list of recent difficulties, stating that a pre-programmed ramp and drop has the potential to under-set the difficulty, leading to advanced inflation and unintentional selfish mining. On the other hand, exacerbating unintentional selfish mining is a much more significant concern, especially given the current high levels of centralization and validationless mining on the network today. Maxwell believes that having a difficulty step patch ready to go in the unlikely case the network is stalled is a good idea, and a one-time change in nBits sounds like a good and simple way to go about it.
Updated on: 2023-06-11T04:16:31.791707+00:00