Doge Coin changing code + Hard Fork to combat Multi-pool High Spontaneous High Hash-rate Issues
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Hey guys just a heads up… Doge coin is changing their code to combat this multicoin pools that are terrorizing the difficulty rates. I know this is affecting feathercoin and I mentioned it a few weeks back. Might be something we want to look at / use to our advantage since they are doing a HARD FORK soon on their block chain.
http://www.reddit.com/r/dogecoin/comments/207hfb/ann_dogecoin16_its_ready_all_you_need_to_know/
Now, onto the juicy part; what did we change?
Firstly, for those of you not already aware - Dogecoin has been gamed by Multipools. Multipools were cherry-picking large blocks (which were found to be provably pre-calculable), and hammering our networks hashrate - making mining for the solo doges incredibly difficult, while dampening their payouts massively. The end result was Multipool’s having twice as much doge as the average consumer; allowing them to dump our prices down with ease.
This ends with v1.6.
Changes implemented;
1) No longer a random block reward - we now only have static blocks. The current reward will be 250,000 Doge per block, with the halvening dropping us to 125,000 Doge per block, etc etc. This will prevent block cherry-picking; as we’re seeing at the moment, with our community pools only seeing 100-200k blocks, while the multi’s gaming the system are enjoying 300-500k blocks. From the 1.6 update, all blocks will be completely even.
2) The DigiShield difficulty algorithm: again, developed and contributed by the very clever folks at /r/DigiByte , this allows for rapid block retarget times, and rapid recovery from multipools suddenly hitting the network; meaning that our miners will no longer suffer from extremely long block times if a Multipool does decide to jump on board. This new algorithm will retarget our block times MUCH faster - ensuring the hard-mining shibe is not left holding the bag after the multipool ransack.
tl,dr: Multipools cannot selectively pick nice blocks anymore - nor can they do long lasting damage to our hashrates.
Now, importantly - what does this mean for your wallets?
We have implemented this code so that the new block rewards, and difficulty algorithms kick in at block 145K. Up until then, it’ll be standard, same-old business; beyond this, the new and improved dogecoin will kick in to action. This is in around 5 days - and we’ll be posting the new wallet link on here as soon as possible. You MUST update your wallet, to remain on the correct fork!
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Our Dev team is currently addressing this issue :)
Nice one for the heads up
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Wow… u have to wait 4 hrs now before u can spend coins that are mined… thats really bad…not to mention they went from 1,000,000 block reward just a month ago down to 250,000 block reward today… I think this might hurt Doge coin in the long run!!!
Note: This is a mandatory update as it involves a hard fork of the network. Please make sure you are running 1.6 to ensure that you’re on the correct blockchain and not at risk of losing your DOGE
As per block 145k, the network will hardfork to adopt a new difficulty retargeting algorithm.
Update highlights:
- No longer a random block reward - we now only have static blocks. The current reward will be 250,000 Doge per block, with the halvening dropping us to 125,000 Doge per block, etc etc. This will prevent block cherry-picking; as we’re seeing at the moment, with our community pools only seeing 100-200k blocks, while the multi’s gaming the system are enjoying 300-500k blocks. From the 1.6 update, all blocks will be completely even.
The DigiShield difficulty algorithm: again, developed and contributed by the very clever folks at reddit.com/r/DigiByte , this allows for rapid block retarget times, and rapid recovery from multipools suddenly hitting the network; meaning that our miners will no longer suffer from extremely long block times if a Multipool does decide to jump on board. This new algorithm will retarget our block times much faster - ensuring the hard-mining shibe is not left holding the bag after the multipool ransack.
3.
_Coins mined must mature for 4 hours (previously 30 minutes) before being spent. _This is a precautionary measure, to give everyone more time to communicate following any future fork of the network. -
Doge will raise a lot by the end of this year. I wish Feathercoins community was just half as big as Dogecoins :) I still have faith in this coin though!
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Here is some thoughts about Dogecoin :
1. Developers is useless as they never fixing problem them self! Always some outsider or pool owner has to step in to fix they code.
2. Most of the wallet updates is broken, ending up with lost transactions, missing coins and so on …
3. 240 minutes coin maturity time will not help, this is another “great” idea from brainless dev’s - it’s like that will stop Multipools from dumping :D
4. Doge had REAL BIG MONEY invested , that’s how you can explain random “anonymous” commercial adds appearing in news papers around the world
5. Doge Reddit community holds 10%-15% of total coins and is a perfect free advertisements minions and have NO REAL influence on coins value as such.
6. Golden age of Doge is over - Big money is leaving the game and you will only see it going down, Price will settle at 50-70 satoshi.
All this coming from person that was mining Doge from almost very beginning and thanks to it I got my investment for 4 rigs back in 7 weeks. But due all stated above - I pulled my self from that coin about 6 weeks ago, by selling last coins at 255 satoshi mark :)
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A coin can ride on a hype for a short time only. I’ve never considered them a real long term Top10 coin. Their market capitalisation is inflated. In addition, they have mined 63% of the total coin supply already. Feathercoin is much older and has generated only 11% of the total coin supply.
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wow 63% and its a very new coin. I guess boom and bust really is the order of the day in the doge camp.
