Author: Mark Friedenbach 2017-10-10 02:19:11
Published on: 2017-10-10T02:19:11+00:00
The email thread posted on the Bitcoin development mailing list discusses a proposed solution to the problem of non-vulnerable difficulty adjustment algorithms. The proposal suggests implementing a new difficulty algorithm that uses a simple rolling average with a much smaller window and adjusting the reward based on recent solvetimes to motivate more mining if solvetimes are too slow or too fast. The author recommends the following algorithm for Bitcoin, which is modified from the Zawy v6 algorithm used in other altcoins: set constants until the next hard fork (T=600, N=30, X=5), limit rise and fall in case of timestamp manipulation, and keep average solvetime on track. The algorithm calculates the next difficulty level based on the rolling average of the most recent thirty blocks, and adjusts the reward based on the actual time it took to solve the block. However, there are concerns raised about the proposal's technical merits and the stated goal of implementing it through a rushed, poorly reviewed hard fork. Hard forks should not be rushed and should receive more than the usual level of expert and community review. It is suggested that this proposal be reframed as a hardfork wishlist research problem for the next properly planned hard fork, if one occurs. The author also points out that doing an even more rushed hard fork on an even newer idea with even less review would be hypocritical at best. The hardfork research group is suggested as a more accommodating venue for further discussion.
Updated on: 2023-06-12T21:34:00.223309+00:00