Peter Todd [ARCHIVE] on Nostr: 📅 Original date posted:2016-03-02 📝 Original message:On Wed, Mar 02, 2016 at ...

📅 Original date posted:2016-03-02
📝 Original message: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
> time.
>
> 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.

--
https://petertodd.org 'peter'[:-1]@petertodd.org
0000000000000000045a03e0e551c4e674f301e0a8eeb217a31ad13580446626
-------------- next part --------------
A non-text attachment was scrubbed...
Name: signature.asc
Type: application/pgp-signature
Size: 650 bytes
Desc: Digital signature
URL: <http://lists.linuxfoundation.org/pipermail/bitcoin-dev/attachments/20160302/fc9c261c/attachment.sig>;