Author: Scott Roberts 2017-10-09 22:57:32
Published on: 2017-10-09T22:57:32+00:00
The email discusses the bitcoin difficulty algorithm and its possible negative effects on miners, users, and nodes in case of a fork. The email proposes a solution to hard fork and implement a new difficulty algorithm that uses a simple rolling average with a much smaller window, as many small coins have done this to stop big miners from leaving and leaving constant miners stuck with a high difficulty. Additionally, the reward would be adjusted based on recent solvetimes to motivate more mining or less if the solvetimes are too fast. The proposed algorithm is the Zawy v6 difficulty algorithm, modified for Bitcoin, which keeps negative solvetimes to correct bad timestamps and sets constants until the next hard fork. The algorithm goes through the N most recent blocks and calculates the average solvetime and difficulty. If the average solvetime is greater than T*limit, it is set to T*limit, and if it is less than T/limit, it is set to T/limit. The email recommends implementing this algorithm since it is faster, simpler, and better than any other difficulty algorithm known to the author.
Updated on: 2023-06-12T21:35:13.215786+00:00