[ANN] DGC V1 Overhaul and Network Adjustments + GIVEAWAY

[baritus]

Hello,

After much discussion and a public vote, the community decided there is a need to lower the inflation rate. I've spent the last few days testing different candidates that can accomplish this effectively while also addressing other current issues. This candidate will not be released for at least one week after V0.2 takes effect.

Intended Changes
Block rewards: Block rewards will be dropping from 20 to 15 per block. The per block value is too high and the removal of the downward pressure will help DGC longterm.

Block times: Over 50% of current DGC blocks contain no transactions and therefore are unnecessary. Block times have gone from 20 seconds to 40 seconds. This will help combat the inflation while at the same time increasing efficiency by lowering orphans. The additional 20 seconds don't make much of a difference as one confirmation in 40 seconds is just as secure as 2 confirmations in 40 seconds.

Blocks to retarget: Blocks to retarget will be lowered from 1080 to 108. The upcoming difficulty padding should limit any extreme variance from severely affecting the difficulty. This also makes DGC more robust and more resistant to profit hopping.

These changes should stop the downwards trajectory and allow DGC to appreciate in value with its services and community.

Thank you,
Baritus

Cross-posted: http://digitalcoin.co/forums/index.php/topic,178


P.S. There is currently a 25 DGC per person giveaway ongoing at the DGC forums.
http://digitalcoin.co/forums/index.php/topic,182

[meta.p02]

So... changing from 20 per 20s to 15 per 40s? hm

The diff retarget is a good fix, but at this point changing the block reward could be seen as a suspicious move.

[jdebunt]

i'm looking forward to these changes, awesome job

http://majesti.co/cryptonerd/digitalcoin-v1-update-announced/

[r32godzilla]

Cheers Baritus. Good move to keep dgc on the improve. Nothing suspicious about it all. It has been talked about at length and was not a decision taken lightly. Appropriate response to the changing crypto coin landscape for reasons already listed above.

[cyberstef]

Nice!

[samson]

So... changing from 20 per 20s to 15 per 40s? hm

The diff retarget is a good fix, but at this point changing the block reward could be seen as a suspicious move.

I would hardly class it as suspicious.

Without these changes the project would continue to be mined and auto-dumped into oblivion.

I guess if you were auto dumping on cryptsy then it's a case of hard luck. It won't be as easy to get them back as it was to dump them.

[lemons]

Nice 

[disclaimer201]

At which block will the latest updates be active again?

[SimonTower]

At which block will the latest updates be active again?

It will be at block 523,800. In my opinion the date is about nov 5-7.