2) Age is the number of confirmations on the coins used for mining. The target is proportional to coin-age. So it is difficulty/ ((number of coins)(confirmations on coins))
A fix for the issue is to change the target to difficulty/(number of coins).
Anyways, if you don't understand than just simulate it. It is easy to do in excel, matlab, or whatever.
Target is
not proportional to coin-age.
BCNext wrote:
After thinking about the mining algorithm I came to conclusion that original proof-of-stake used by PPC and NVC is a bit flawed. Bob could accumulate small amounts on different accounts during a long period of time and then attempt a 51% attack. Artificial limits like max 90 days don't seem to work as intended. Nxt will use a different proof-of-stake approach, I need time to nail some details and then I'll post them here.
After that he devised such an algo:
1. Target = BaseTarget * Balance * Time_since_last_block
2. Hit = First 64 bits of SHA256(Sign
Curve25519(PreviousBlockHash))
3. If Hit <= Target then a block can be generated
Thus
Time_when_next_block_can_be_generated = First 64 bits of SHA256(Sign
Curve25519(PreviousBlockHash)) / (BaseTarget * Balance)
PreviousBlockHash and BaseTarget are the same for all miners. Balance is fixed. There is no age here.
A fix for the issue is to change this to
target=difficulty/(number of coins).
We
already have this!