Author: Corey Haddad 2016-03-03 18:27:35
Published on: 2016-03-03T18:27:35+00:00
Luke Dashjr, a Bitcoin developer, has suggested an adjustment to the reward schedule in order to alleviate concerns about the upcoming subsidy halving in July. He suggests that instead of a large supply shock every four years, the reward could drop every 52,500 blocks (yearly), or even at each difficulty adjustment, in such a way that the inflation curve is smoothed out. Dashjr believes this could increase confidence in the system if the community is able to demonstrate a good process for making such decisions and show that they can separate meaningful underlying principles from implementation details. Dashjr is concerned that miners could drop off the network during the upcoming subsidy halving, resulting in longer block intervals and potentially hitting the block size limit sooner than expected. To alleviate this risk, he proposes a hardfork to the difficulty adjustment algorithm so it can adapt quicker to such a significant drop in mining rate. BtcDrak reportedly has well-tested code for this in his altcoin, which may be ready in time to be deployed alongside SegWit to take effect in time for the upcoming subsidy halving. Dashjr is unaware of any reason why this would be controversial and welcomes other ideas or concerns.
Updated on: 2023-06-11T04:18:48.830287+00:00