We mentioned last week that GameCoin was going to change the world once again...
Proof of Participation (PoP) will bring that about.
PoW rewards those with the greatest hash power.
PoS rewards those with the largest wallets.
PoP will reward anyone running a client.
The PoW scheme is not sustainable as the amount of hash power required to find a block goes up daily. How many times have you heard that crypto mining is using more electricity than what's required to light a city? It's the dirty little secret about crypt.
As Apple did with the iPod; They weren't the first, but they had a vision and took the status quo and made it better. They innovated.
Welcome to the innovation of crypto!
GameCoin
"Think Gaming... Then think EVERYTHING else"
Is there a reason that the difficulty adjusts after 12 blocks and not every block, why not implement KGW?
I just read up a bit on KGW. Interesting algo. This client was rebased from 0.8.2 to 0.13. In that process, Advanced Checkpointing was added to protect against a low hash. With block times of 2.5 min, it's only about 30 min before a adjustment would occur. Could be something to look into in the future. Thanks for that comment.
Yes, 30 minutes, except for when the difficulty rises well above the hashrate. This time is only present when the hash rate is equal to the difficulty. Yesterday it took nearly 3 hours to solve the 12 blocks.
Advanced checkpointing protects against 51% attacks not so much low hash rate. KGW implements a design against miners that only mine when profitable and then move on to another more profitable currency, when they do this the coin left behind has an insurmountable difficulty.
Though I have not found the exact block time frame for my initial statement, here is an example of too long between difficulty adjustments.
342540 1789.9645 844 1.71 1b249cca 1412901572 17th Nov 2018 08:58:23
342551 1789.9645 833 0.50 1b249cca 1525128595 17th Nov 2018 10:55:29
Great, concise explanation of KGW. I will definitely run this by the community, if they haven't already seen it. Thanks again.