Hi everyone!
The problem seem to haven been solved for a few hours now.
Great work everyone (especially pool operators)!
Difficulty is now in the 300 range and block time as designed.
Some explanation of the situation (how I see it):
1) No coins were lost or stolen
2) The number of coins we generated during last couple of days was 86% more than designed
3) These extra coins were
evenly distributed across miners and investors who were buying GRS
4) Extra flow of coins has decreased the price of GRS at exchanges
What happens now:
* The price of GRS will rise, since it is now hard to mine them
* If you were plannnig to buy GRS now is a good time
* We will fork in a few days to DGWv3 to avoid this happening in future (more on this below)
Has it harmed Groestlcoin?
A little bit in the short term.
But in the long term - I think it was actually a plus. The community didn't panic too much, pool operators have shown their support, we came up with a plan of fixing this and succeeded.
I have discussed this issue with DGW author and he is recommending that we fork into DGW v3, see below:
Evan Duffield
2:50 AM (5 hours ago)
to me
DGW v1 is exploitable via timewarp. I would update ASAP to v3. It's
also the case that you'll have to hard fork to do that.
-Evan
On Sun, May 11, 2014 at 7:35 AM, src xxx <
srcxxx@gmail.com> wrote:
> Hi Evan!
>
> I'm the developer of GroestlCoin and we are using your DGW formula.
>
> Unfortunately, a few days ago the difficulty started to get much lower than
> necessary anf instead of 1 block per 60 seconds we have 1 block in approx 15
> seconds.
>
> Could you please take a look? Perhaps you had similar problems?
>
> Major pool sometimes have time forward or back in the blocks that it finds.
> Dwarfpool, it has about 45% of total hashrate.
> We are thinking of forking to dgw v2 or v3 asap. Would it fix the problem?
>
> Summary with screenshots here:
>
>
https://bitcointalk.org/index.php?topic=525926.msg6667069#msg6667069>
> Many thanks in advance!
> srcxxx
Keep on Groestling!
And please start moving to the new
official forum. This thread is planned for retirement.
PS: Some images from dwarfpool (notice the raise of difficulty and decrease in the number of found blocks):