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Author Topic: What happen if big whale hash owner left the ecosystem?  (Read 88 times)
wsxdrfv
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February 27, 2018, 10:59:54 PM
 #1

Let's say there is new starting coin, there are few normal user's desktop running and mining that coin.

Suddenly big hash power (like 1000 or over 10000 ASIC machine) owner(big whale) comes in to mine that coin.


Here are questions.

1.
Then he maybe will monopoly all the blocks after, and he can mine more faster than the time developer's set like 10 seconds? Like super-fast even mine 1 block in just 0.001 second because whale has enormous hash power?


2.
If difficulty retarget period is set like 2 hours instead of 2 weeks which Bitcoin adopt, then it means after 2 hour, big whale also suffer rised difficulty maybe?
Then, what happen he left at that time?
Now difficulty is so rised, but there are none of that big whale, there is just weak few cpus exist, those maybe can't mine at all for 2 hours?

Then again, after 2 hours, difficulty retargeting again to lower to fit their weak cpu power?


If all these are true, why not shorten difficulty retarget time as short as possible? Isn't it more good way?

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February 27, 2018, 11:32:52 PM
Merited by achow101 (2)
 #2

That time is the target to change the difficulty, it works based on the number of blocks mined instead of real time passing.

So for example, with Bitcoin blocks are expected every 10 minutes. If the network's hashrate magically doubled, we would be seeing new blocks on average every 5 minutes. This means that the next difficulty adjustment would come twice as fast. If then after this difficulty adjustment, all this new hashpower left the system, we would be seeing blocks on average every 20 minutes. This is because the difficulty readjusted to compensate for the new hashpower, but then it left the system. This new change would mean that the next difficulty adjustment would come twice as slow, meaning that the network would have 20 minute blocks for a much longer time, and the network throughput would struggle because of this.
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February 28, 2018, 02:49:10 AM
Merited by achow101 (2), Foxpup (1)
 #3

RGBkey has answered your first 2 questions so I'll answer the last one:
Quote
If all these are true, why not shorten difficulty retarget time as short as possible? Isn't it more good way?
Bitcoin uses a fairly long difficulty retarget time to prevent miners gaming the system like what happened in Bcash last year
As you noted, if you have short difficulty retarget time, a miner with large hashpower could mine blocks quickly to reap rewards, wait for difficulty to adjust, then repeat.
With Bitcoin the miner would have to sustain the attack for about 2 weeks which is prohibitively expensive.

Also block generation time is like a lottery where it's possible to find many blocks within the expected block generation time or not find any within that time, so if this happens you do not even need a miner with large hashpower to destabilise your network, just bad luck.

However there are altcoins that have a difficulty retatget time with a different algorithm, such as Kimoto Gravity
wsxdrfv
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February 28, 2018, 03:06:46 AM
 #4

RGBkey has answered your first 2 questions so I'll answer the last one:
Quote
If all these are true, why not shorten difficulty retarget time as short as possible? Isn't it more good way?
Bitcoin uses a fairly long difficulty retarget time to prevent miners gaming the system like what happened in Bcash last year
As you noted, if you have short difficulty retarget time, a miner with large hashpower could mine blocks quickly to reap rewards, wait for difficulty to adjust, then repeat.
With Bitcoin the miner would have to sustain the attack for about 2 weeks which is prohibitively expensive.

Also block generation time is like a lottery where it's possible to find many blocks within the expected block generation time or not find any within that time, so if this happens you do not even need a miner with large hashpower to destabilise your network, just bad luck.

However there are altcoins that have a difficulty retatget time with a different algorithm, such as Kimoto Gravity
Then, what is best adoption for newly started coin? Just shorten difficult retarget parameter to shorten like 1 hour? or Kimoto? How to adopt it?
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February 28, 2018, 12:04:01 PM
 #5

Let's say there is new starting coin, there are few normal user's desktop running and mining that coin.
Suddenly big hash power (like 1000 or over 10000 ASIC machine) owner(big whale) comes in to mine that coin.

Thats mostly the reason why you shouldn't just copy&paste 'fork' a coin without changing parameters.
ASIC stands for Application-specific integrated circuit. They are built for 'established' coins and/or widely hashing algorithms.



1.
Then he maybe will monopoly all the blocks after, and he can mine more faster than the time developer's set like 10 seconds? Like super-fast even mine 1 block in just 0.001 second because whale has enormous hash power?

Yes, this is absolutely possible.
If its interesting for miners (regarding financial aspects) its even highly probable.



2.
If difficulty retarget period is set like 2 hours instead of 2 weeks which Bitcoin adopt, then it means after 2 hour, big whale also suffer rised difficulty maybe?
Then, what happen he left at that time?

Usually those periods aren't directly measured in hours or weeks but in the amount of blocks.
For BTC the network difficulty adjusts every 2016 blocks (which corresponds to 2 weeks with 10 minutes per block).

If the difficulty adjusts after a specific amount of blocks the network would kind of be 'screwed' in such a case.



Now difficulty is so rised, but there are none of that big whale, there is just weak few cpus exist, those maybe can't mine at all for 2 hours?
Then again, after 2 hours, difficulty retargeting again to lower to fit their weak cpu power?

If network difficulty adjusts in a time unit, then yes.
If the difficulty adjusts after X blocks, then no. In that case it would take the time it needs to get the X blocks mined until the difficulty adjusts again.

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February 28, 2018, 01:10:25 PM
 #6


If network difficulty adjusts in a time unit, then yes.
If the difficulty adjusts after X blocks, then no. In that case it would take the time it needs to get the X blocks mined until the difficulty adjusts again.
Actually I want to adopt Sha256 or Scrypt because actually I want to lure those whales.

So for your last sentence, I think it is important, how to implement like that? If I cloning litecoin (or bitcoin) then is it enough to change just [ consensus.nPowTargetTimespan ] as short as possible like 1 hour?
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February 28, 2018, 01:40:31 PM
 #7

And how to block whale mine block even at 0.00001 second? How to set minimum required block generation time?
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