Re: [ANN] [PPC] PPCoin Released! - First Long-Term Energy-Efficient Crypto-Currency

Quote from: Sunny King on October 08, 2012, 01:56:18 PM

Quote from: cunicula on October 08, 2012, 08:00:08 AM

Question: Is the proof-of-work mint rate path dependent (i.e. does it depend on both current and past difficulty?); (or does it only depend on current difficulty?)

Question: Assuming the mint rate is path dependent, if someone was to take huge hashing power online and offline repeatedly (say one week online; one week offline; repeat), would this process progressively drive down the mint rate?

No memory involved, only current proof-of-work difficulty determines mint: mint = 9999 / (difficulty ** 0.25)

But the difficulty is a running average, correct? IMHO, that may explain the large oscillations we've seen: Someone with huge hashing power hashes for 3-4 days and waits for a few days, for the difficulty to cool down, rinse and repeat. It's rational: In the beginning the huge hashing power is more effective since the difficulty weighting takes into account prior times for lower diff. These leads to a situation where the baseline of miners effectively pays for the efficiency gain in mining of the large entity miner... Sad