Re: [ANN][VTC] Vertcoin - Adaptive N-factor in Scrypt - No more ASICs
And also price is recovering
Also true.
Additional idea, why not just change the difficulty retarget time until the KGW is put in place? Isn't that something that could be implemented today? That way, we don't have to suffer though such an unnecessarily high difficulty while waiting on the KGW switch.
Anyone miners or pools using the old wallet would end up forked on an separate chain and wasting their time/losing coins. People have to be given a reasonable amount of time to upgrade.
So, would just changing the difficulty retarget time to something like 3 hours require a different wallet? I'm not talking about making the KGW switch sooner as that obviously needs a new wallet to work.
Full disclosure: I have never developed a coin, so I don't know all of the specifics of what goes into programming one. So, I apologize if my suggestion is simply not possible.
I don't know where everyone is getting this idea that we're at high difficulty compared to hashrate! I think probably, a miscalculation or gremlin somewhere in the reported nethash is at fault, and rumours spread from there!
Here's the actual data:
Last 500 blocks in 24 hours: http://explorer.vertcoin.org/chain/Vertcoin?count=500&hi=24681
Which is an average of 2.88 minutes vs. a target of 2.5 minutes, so only about 15% off.
Last 100 blocks in 4 hours: http://explorer.vertcoin.org/chain/Vertcoin?count=100&hi=24681
Which is an average of 2.4 minutes, so _faster_ than target blocktime, albeit only slightly.
I was not aware of that. In that case, my idea not being possible wouldn't be nearly as bad.