Author: Tom Harding 2015-09-09 19:53:10
Published on: 2015-09-09T19:53:10+00:00
The discussion revolves around the effect of difficulty on block size, subsidy, and money issuance. If everyone uses difficulty to purchase big blocks during retarget interval 0, blocks and money issuance become slower. Retargeting subsequently causes it to be faster during interval 1, with the subsidy shifted from the calendar period corresponding to interval 0 to interval 1. Changing the reward can reduce the time-frame of the effect to a single block interval, but there is still an impact. However, these schemes do not eliminate the need for a hard cap, and there are new rules for the allowed adjustment size, adding more complexity than other blocksize schemes under consideration. A question was raised on whether changing the schedule affects the next difficulty retarget readjustment to an average of 10 minutes again. Nevertheless, any change to difficulty that responds to anything except observed block production rate inevitably modifies the money supply schedule, even if the reward changes, altering the timing if not the average rate.
Updated on: 2023-06-10T19:28:23.376251+00:00