Re: UNIFY [UNIFY] - A UNIFYING CRYPTOCURRENCY! [1% PREMINE] [4 POOLS] [NOVAEXCHANGE]
Since Unify is getting stuck on blocks once again - I am starting to think about hard forking Unify.
That would kill the value of old coins
Hardfork has nothing to do with switching chains, it will continue on the same chain but with new rules.
Therefore the nodes running with old wallet software, and blocks mined by them after the fork are not valid on the new chain.
Here is a picture for the reference, for you to have a better understanding:
Edit: by switching chains i mean starting a completely new chain from the scratch, and therefore old coins disappearing which does not happen with hardfork, since the old blocks will still remain.
Why not create a new coin with similar algo & stats but new code & then exchange Unify to new one with 1:1 ratio....
When the difficulty is low someone often mines on a pool with a too large rented hash power where they get the whole block reward for themselves. When the blocks have come too fast relative the target timespan of 10 minutes leading to the difficulty getting too high most hashpower leave the network.
We need a better difficulty adjustment algorithm.
For example:
"DigiShield
Activated in February of 2014[7] this hard fork allowed for the DigiByte blockchain to protect against multi-pools that mine large numbers of DigiByte at a low difficulty. It achieves this by recalculating block difficulty between each block, allowing for a faster correction when a multi-pool begins or ceases contributing to DigiByte, rather than recalculating once every fortnight as is the case with Bitcoin. Since then DigiShield has been added into a number of other cryptocurrency blockchains such as Dogecoin, Startcoin, Nautiluscoin, and Zcash, with the help of the DigiByte team. [8]"
https://en.wikipedia.org/wiki/DigiByte
Nautilus coin is a scrypt coin with digishield difficulty retargeting.
https://bitcointalk.org/index.php?topic=591114.0
https://github.com/nautiluscoin/nautiluscoin