Bitcoin Mining Difficulty - What is it And How Does it ...
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Can someone explain the Bitcoin Cash Difficulty Algorithm to me?
I understand that in Bitcoin (Core) it works as follows: difficulty = new_difficulty_target / difficulty this new number is usually estimated by clients and it changes every 2016 blocks as to aim for 10 minutes between each block. I know not much about the fork(s), other than the differing size blocks. I remember reading about a different algorithm that BCH used as to not cripple the forked chain when waiting for difficulty retargets because it was (correctly) anticipated to have a lower hashrate. Since it had a lower hashrate, it could have been possible for the chain to be stuck attempting to mine a block too high in difficulty for the current hashrate, effectively stopping the fork. Can anyone help explain this algorithm to me and is it still implemented or did the codebase change back to the 2016-block retarget? Thanks EDIT 1: As of 2017: Bitcoin Cash uses 'Median Time Past' to determine if the difficulty will be readjusted. It looks at the current block and the 'MTP' of the past 6 blocks, and if the time difference is greater than 12 hours, the difficulty will become easier. I believe it is a 20% adjustment. Median Time Past is the median of the last 11 blocks. EDIT 2: Thank to u/jonald_fyookball I was pointed to the Electron Cash implementation [here](https://github.com/Electron-Cash/Electron-Cash/blob/mastelib/blockchain.py) I'm still working through this as I'm not much of a programmer, but I think this here is the relevant code:
def get_median_time_past(self, height, chunk=None): if height < 0: return 0 times = [ self.read_header(h, chunk)['timestamp'] for h in range(max(0, height - 10), height + 1) ] return sorted(times)[len(times) // 2] # # ... other code ... # not sure how to format as it is in the middle of a function # bitcoin cash EDA # Can't go below minimum, so early bail if bits == MAX_BITS: return bits mtp_6blocks = self.get_median_time_past(height - 1, chunk) - self.get_median_time_past(height - 7, chunk) if mtp_6blocks < 12 * 3600: return bits # If it took over 12hrs to produce the last 6 blocks, increase the # target by 25% (reducing difficulty by 20%). target = bits_to_target(bits) target += target >> 2 return target_to_bits(target)
I am interested to see the implementation of this and learn more about it so I will (probably) be adding more to this post as time goes on as a reference for myself and anyone else who wants to know.
Can someone explain please when less people mine bitcoin this means difficulty decreases? Means coins can be mined much quicker means bitcoin price drops eventually? Sorry if it’s a silly easy question 🤦🏻♂️
Bitcoin Cash - new difficulty adjustment algorithm explained
Hello, I struggle to understand some of the details regarding the new difficulty adjustment algorithm and I was hoping someone here might get it ///https://www.bitcoinabc.org/november A couple of things: 1) To compute the difficulty, we begin with the three topmost blocks, and choose the one with the median timestamp of the three. Next, the process is repeated with blocks 144, 145, and 146 (blocks of 144-146 height less than the current) and a median timestamp block is again chosen from those 3. a. If you take the 3 topmost blocks,they are already in chronological order so the median timestamp will be the middle of the 3 topmost blocks…what am I missing here? 2) From these 2 blocks roughly 144 blocks apart, we define W as the amount of work done between the blocks, and T as the elapsed time between the blocks. A high-low filter is applied so that T has maximum value of 2 days and a minimum value of .5 days. This prevents difficulty from changing too abruptly. (Normally 144 blocks takes approximately 1 day). a. How is W calculated? Can anyone provide an example…is it the average hashpower between the 2 timestamps calculated above ? If yes, how are those calculated as I thought that hashpower is not observed. 3) This is our difficulty target. Lastly, a final filter is applied to enforce a maximal target. a. How is this applied to the formula? Not sure I understand what is meant here?
Difficulty is a value used to show how hard is it to find a hash that will be lower than target defined by system.. The Bitcoin network has a global block difficulty. Valid blocks must have a hash below this target. Mining pools also have a pool-specific share difficulty setting a lower limit for shares. This new difficulty record shows that bitcoin mining activity remains attractive . The “ death spiral ” expected by some has therefore not taken place. This is partly explained by the drastic drop in electricity costs in certain regions of China, but also by the constant progress of the manufacturers of mining equipment (the famous ASIC). The Bitcoin network difficulty is the measure of how difficult it is to find a new block compared to the easiest it can ever be. It is recalculated every 2016 blocks to a value such that the previous 2016 blocks would have been generated in exactly two weeks had everyone been mining at this difficulty. The Bitcoin network varies its difficulty levels after the discovery of every 2016 blocks to ensure a constant output. If the network hash rate is high and the time taken to discover a new block is less than 10 minutes, then the network will increase the difficulty level proportionately to increase the block discovery time. Difficulty is a parameter that bitcoin and other cryptocurrencies use to keep the average time between blocks steady as the network's hash power changes. Cryptocurrency Difficulty Explained
Bitcoin mining difficulty example. THIS IS CRAZY!!
Explanation of Bitcoin Mining & Difficulty for lay people. Canadian billionaire predicts end of US Dollar as world's reserve currency - Ned Goodman lecture - Duration: 7:23. Cambridge House ... Bitcoin mining difficulty example. THIS IS CRAZY!! This is a great example of how fast the bitcoin community is upgrading their hardware and leaving my micro rig in the past. Watch in 360 the inside of a nuclear reactor from the size of an atom with virtual reality - Duration: 3:42. EDF in the UK Recommended for you. 360° Cryptocurrency mining difficulty explained When will the bitcoin difficulty increase - Start making your own internet bussines today, bitcoin mining, block erupter, Butterfly Labs, difficulty, how ... Mining Bitcoin or Ethereum is a hard task for your computer. But why? And what does the difficulty have to do with the security of blockchains? Learn all abo...