[bitcoin-dev] Hardfork to fix difficulty drop algorithm
pete at petertodd.org
Wed Mar 2 18:20:28 UTC 2016
On Wed, Mar 02, 2016 at 02:56:14PM +0000, Luke Dashjr via bitcoin-dev wrote:
> To alleviate this risk, it seems reasonable to propose a hardfork to the
> difficulty adjustment algorithm so it can adapt quicker to such a significant
> drop in mining rate. BtcDrak tells me he has well-tested code for this in his
> altcoin, which has seen some roller-coaster hashrates, so it may even be
> possible to have such a proposal ready in time to be deployed alongside SegWit
> to take effect in time for the upcoming subsidy halving. If this slips, I
> think it may be reasonable to push for at least code-readiness before July,
> and possibly roll it into any other hardfork proposed before or around that
> I am unaware of any reason this would be controversial, so if anyone has a
> problem with such a change, please speak up sooner rather than later. Other
> ideas or concerns are of course welcome as well.
Changing the difficulty adjustment algorithm significantly changes the
security of the whole system, as it lets attackers create fake chains
with a lot less hashing power.
Given as tx fees rise this problem will hopefully be a one-time issue, a
simple fixed difficulty adjustment probably makes sense. No need to
bring in new algorithms here with controversial new security tradeoffs.
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