[Bitcoin-development] Addressing rapid changes in mining power

Jorge Timón timon.elviejo at gmail.com
Wed Nov 23 11:51:00 UTC 2011

With the current system, the timestamp can also be cheated, but miners
have no direct incentive to do it. With your system, they increase
their probability of mining a block by putting a false timestamp.
Also, where's the network clock you're talking about? Isn't it the
timestamps in the blockchain?

2011/11/23, Andy Parkins <andyparkins at gmail.com>:
> On 2011 November 23 Wednesday, Jorge Timón wrote:
>> 2011/11/23, Andy Parkins <andyparkins at gmail.com>:
>> > Let's abandon the idea of a target difficulty.  Instead, every node just
>> >
>>  > generates the most difficulty block it can.  Simultaneously, every node
>>  > is listening for "the most difficult block generated before time T";
>>  > with T being
>>  > picked to be the block generation rate (10 minutes).
>> A miner could try to obtain more difficulty out of time and cheat its
>> reported datetime (T).
> Just as with the current system.
> The defence is that on receipt of a block, its timestamp is checked against
> the node's own clock and averaged network clock.  Blocks out of that band
> are
> rejected.
> Andy
> --
> Dr Andy Parkins
> andyparkins at gmail.com

Jorge Timón

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