Post
Topic
Board Announcements (Altcoins)
Re: [ANN - NEW COIN LAUNCH] *PXL COIN* Use coins to upload your image to our site!
by
Spam_vt
on 22/01/2014, 17:30:54 UTC
You're going to need to do a hard fork if you want to make this coin usable again.  Block times are averaging 30 minutes each, and it's going to take 40+ days at the current hash rate to make it to the retarget.  You need to make the difficulty retarget much more quickly (e.g. with a 36-block rolling average).  Also, you should reduce the confirmation time of newly mined blocks.

The default settings from the Litecoin code are really terrible for launching a new altcoin (2016-block retarget and minimum starting difficulty) .  You end up with a huge supply of coins from the launch period (instamining) which deflates the value of the coins.  Then when the difficulty finally catches up with the hash rate, the hashers leave because it is not profitable.  And finally you get stuck at a high difficulty with long block times and a very long time until retarget.