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Date: Wed, 2 Mar 2016 13:20:28 -0500
From: Peter Todd <pete@petertodd.org>
To: Luke Dashjr <luke@dashjr.org>
Message-ID: <20160302182028.GA7783@savin.petertodd.org>
References: <201603021456.15820.luke@dashjr.org>
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Subject: Re: [bitcoin-dev] Hardfork to fix difficulty drop algorithm
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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=
=20
> difficulty adjustment algorithm so it can adapt quicker to such a signifi=
cant=20
> drop in mining rate. BtcDrak tells me he has well-tested code for this in=
his=20
> altcoin, which has seen some roller-coaster hashrates, so it may even be=
=20
> possible to have such a proposal ready in time to be deployed alongside S=
egWit=20
> to take effect in time for the upcoming subsidy halving. If this slips, I=
=20
> think it may be reasonable to push for at least code-readiness before Jul=
y,=20
> and possibly roll it into any other hardfork proposed before or around th=
at=20
> time.
>=20
> I am unaware of any reason this would be controversial, so if anyone has =
a=20
> problem with such a change, please speak up sooner rather than later. Oth=
er=20
> 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.
--=20
https://petertodd.org 'peter'[:-1]@petertodd.org
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