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.
What I think is happening in the BCH network attack is some miners are gaming their fast Difficulty Adjustment Algorithm: Becuase there is little hashrate in the network, the attackers turn off their machines (save energy) and when a block is found they turn them back on. 1/3
— zender 🛡 (@zndtoshi) October 27, 2019
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
— Rosco Kalis (@RoscoKalis) October 23, 2019
Lightning Network Mess: In Case You Missed It
What's that phenomenon called when developers spend excessive time/resources being sidetracked on irrelevant product features, rather than the more important ones?
Oh yeah…it's called the Lightning Network.https://t.co/6QAOaf5ROX
— Omar Bham (Crypt0) (@crypt0snews) October 23, 2019
Bitcoin Mining Parliament Gets Flesh, Rules
Bitcoin Miners Ruleshttps://t.co/ejVMmboRmT
It is the first proposal-draft of Legal Corpus, Doctrines or Rules that Bitcoin Miners can follow to establish a hashcracy-based empowerment and execute the whitepaper with precision, in order to avoid repeating past failures.
— Javier González González (@JavierGonzalez) October 22, 2019
Comparing Coin Mixing Architectures
Samourai vs Wasabi Mixing Architecture https://t.co/2G45AgtyPx
— nopara73 (@nopara73) October 25, 2019
Crescent Cash Wallet for Android Update Released
Crescent Cash v1.8.6 for Android has been released.
– Double send with automatic sending bug fixed
– “Received funds” screen shows up when payment is received
– Quick-action buttons on home screen for sending and receiving BCH
– Scan QR code icon changes
— Crescent Cash (@crescentcash) October 27, 2019
Now That is a Smart Watch!
Avg tx fee
Total tx count waiting in mempool
— Maplesyrupsucker (@maplesyrupsuckr) October 26, 2019
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DYOR: CoinSpice is your home for just spicy crypto things. We’re not affiliated with any cryptocurrency project or token. Each published piece is intended for information purposes only, not investment advice and not in the hope of impacting speculative markets. There are plenty of trading sites and coin-specific advocacy journals out there, we’re neither. CoinSpice strives for rigorous accuracy in our reporting. Information presented here is contingent usually on a host of factors, and the ecosystem moves fast — prices change, projects change, and at warp speed. Do your own research.
DISCLOSURE: The author holds cryptocurrency as part of his financial portfolio, including BCH.