Home Crypto Dev Digest CRYPTO DEV DIGEST: Bitcoin Cash Mining Difficulty Adjustment Algorithm Gamed

CRYPTO DEV DIGEST: Bitcoin Cash Mining Difficulty Adjustment Algorithm Gamed

TL;DR: Crypto Dev Digest (CDD) documents cryptocurrency development, highlighting the projects and persons working under the hood. The Bitcoin Cash (BCH) network’s fast Difficulty Adjustment Algorithm (DAA) appears as if it’s being gamed by unknown miners. BCH dev meeting #15 is in the books. CashScript heads to browsers. Lightning Network misery continues. Bitcoin Mining Parliament gets a constitution of sorts. Coin mixing architectures compared. Crescent Cash wallet for Android updated, and check out this super cool watch! 

Bitcoin Cash Mining Difficulty Adjustment Algorithm Gamed: Seeing the Face of Jesus in Your Morning Toast

As the November BCH upgrade approaches, inevitably harder looks are taken at the project, and especially by those who find it objectionable for whatever reason. The latest bout has to do with unknown miners gaming the chain’s comparatively fast DAA, potentially causing miners to point their hash where it’s most profitable, so-called switching.

Those already predisposed to find fault with Bitcoin Cash have taken to various social media and the usual crypto news outlets, proclaiming, yet again, sure disaster for BCH. Monero dev Fireice UK put the fear, uncertainty, and doubt into perspective as “the 3-hour gap was most likely caused by a large (around 10% of the total hashrate) miner leaving the network. In the period after that we had 149 blocks in 22 hours, which works out to 6.7 per hour with a target of 6. This is pretty normal, a change in the difficulty of this magnitude is bound to cause oscillations of over and under adjustments,” the dev concluded.

“As I’m writing this,” Fireice UK continued, “the hashrate is rising again by about 10%, this can easily be explained by people switching on their miners in response to those events.” In the final analysis, the Monero dev believes there “is nothing in the current data that even remotely resembles a 50% attack. The hashrate rose barely by 10%. In the same way that people are looking into their morning toast and seeing the face of Jesus (https://en.wikipedia.org/wiki/Pareidolia), others are trying to divine an attack from those semi-random numbers.”

At the time of publication, the BCH network and market price both seemed to be humming along without incident. CoinSpice is monitoring the situation and will provide updates as they happen.

  • Bitcoin Cash Developers Meeting #15 in the Can

  • CashScript Goes Browser, Sans Nodejs

  • Lightning Network Mess: In Case You Missed It

  • Bitcoin Mining Parliament Gets Flesh, Rules

  • Comparing Coin Mixing Architectures

  • Crescent Cash Wallet for Android Update Released

  • Now That is a Smart Watch!

Difficulty Adjustment Algorithm

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DISCLOSURE: The author holds cryptocurrency as part of his financial portfolio, including BCH.