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Board Announcements (Altcoins)
Re: GoldCoin™ (GLD) Thread - The Gold Standard of Digital Currency [OFFICIAL THREAD]
by
akumaburn
on 04/11/2013, 02:48:05 UTC
After 0.7.1.3 upgrade I deleted my local files (my wallet was empty anyway) and redownloaded the blockchain so everything is clean. I assume I am on the right chain now. I still got the block my CPU miner has found, 328 confirmations, transaction ID: 714f5b1d58f99cdf65b7a319150613b26024accae594e10a1060000eb0c02365

Still cgminer is giving nothing but rejects. From what I read here I am not the only one with that problem. Anyone who got cgminer to mine properly and tells us the settings?
Maybe the new protection is somehow triggered on the higher hashrate the GPU miner produces?

You can always verify whether you're on the correct blockchain by referring to the block explorer: http://gld.cryptocoinexplorer.com/

In regards to mining, the window for mining blocks is small, in that sense its more of a lottery system now than who's got the largest hash-power. We are still monitoring the network for irregularities but have been unable to confirm any definitive problems at this time.

Please stayed tuned as the developers will be reporting after they've had the opportunity to analyze and discuss their findings.

How does your network remain secure without a large group of stable miners?  Why would a miner want to mine a coin without knowledge of the profitability of said currency?  Maybe you could reveal some more details into how the new 51% attack protection is actually a good implementation for the coin.  What is this new factor besides describing it as a lottery?

Please refer to the 51% defense documentation in reference to your first question: http://gldcoin.com/documents/GoldCoin_0.7_51percent_defense_october_11_2013.pdf

Please note that the actual implementation is far more complex than the example (and covers even multipeer attacks). I may write more about it later(time allowing), after all these issues have been resolved.

With regards to your second question: Our new difficulty code will address the issue of inaccurate profitability/hashrate calculation so these problems should be addressed in the next update.

This new factor is not easily quantifiable hence making it difficult to explain except that the client will not permit more than 6 blocks in less than 10 minutes, regardless of what 6 blocks they are..
We go into a little more depth in the documentation mentioned above.