Ethereum difficulty changes

This is a mismatch and has interested me for some time. Recently, returning to the problem and after learning they are represented best by a Poisson Point Process I have a theory you can use this fact to build a different, simpler, algorithm that also better fits the probability distribution. Hopefully this means better responsiveness and less unnecessary adjustments. I am unsure, but I am at the point where I could use help simulating different cases. Anyone interested in helping me out on this? A deeper explanation of the discovery and possible solutions below.

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Content:

• (ETH) Ethereum devs looking to delay difficulty time bomb, what could this mean?
• Ethereum Upgrade Delays 'Difficulty Bomb'
• The Ultimate Guide to the Ethereum Berlin Hard Fork and London Hard Fork
• Difficulty
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• Ethereum Difficulty historical chart
• Can You Still Earn Money Mining Ethereum?
• Claymore's Dual Ethereum AMD+NVIDIA GPU Miner
• Ethereum Runs into a Difficulty Spike, Bitcoin Dev Smells Disaster in January Hark Fork
• The Coercion Of Ethereum's Difficulty Bomb

WATCH RELATED VIDEO: Ethereum 2.0 Delayed! Ethereum Difficulty Bomb Delayed

(ETH) Ethereum devs looking to delay difficulty time bomb, what could this mean?

Can open-source blockchains be coercive? It's basically like physical violence or the threat of physical violence, or theft or breach of contract. Those categories of things I call coercive. What's not coercive is if you're part of an open-source software project and the majority in that project wants to do something and you don't.

And so the project goes in a direction that you didn't want it to go in. That's not coercion. That's called market forces. People I think often will ascribe the word coercion to just things that are inconvenient or unpleasant or that or that feel like they harm them or that lost them money.

I reserve that for more intense interventions… I don't think anything that happens in open blockchains is coercive, period, unless there's some kind of fraud going on… I think open-source software protocols can't be coercive. In , in response to disagreements in preferred protocol upgrade mechanisms, Vitalik Buterin even attempted to claim that soft forks are more coercive than hard forks.

Buterin argued that hard forks are opt-in, whereas soft forks are not. However, Buterin misses the point that anyone who runs a Bitcoin node can continue to run outdated clients and expect that their coins will still work with the same rules they signed up for. The Ethereum Foundation perpetually hits the snooze button and resets its time bomb on the updated chain it helps release.

This acts as a looming threat, in order to force compliance. Its next detonation is currently planned for June , at which point it will likely be reset, yet again, for another future detonation date.

Continually modifying the detonation date is a regular occurrence in Ethereum. One can even see the effects of accidental detonations in historical block time data. Source: Etherscan. The difficulty bomb forces miners and users into accepting developer hard forks to a proposed Ethereum upgrade known as an Ethereum Improvement Proposal EIP.

Any reasonable person can see this is intended to be coercive. The forked chain, which reversed the hack, was proposed by the trademark-owning Ethereum Foundation and was supported by its powerful marketing presence and official social media accounts. The dissenters who opposed this fork, and lacked the official marketing arsenal, had no choice but to create a new project under a different name — now known as Ethereum Classic.

Because of the difficulty bomb, the members of the Ethereum community who opposed The DAO fork were left stranded on a dying chain that was destined to freeze. Saying these users kept on with the same rules is like claiming people are free to keep driving a car that has no oil.

The new Ethereum Classic developers also added in some of their own improvements, including adjusting technical parameters to increase the cost of certain spam attacks.

Such an outcome is only possible if the dissenting users can find a willing team of core developers and miners who are willing to go along with the dissent, maintain the new project, create market forces and defuse the bomb.

Conversely, Bitcoin soft forks are all backwards compatible, meaning that obsolete versions of the client software are always supported. In theory, a user could fall into an extended coma and, upon waking, find that their Bitcoin wallet and full node would still be usable decades later.

The same cannot be said for Ethereum. Voorhees is correct that the coercion is classically defined as a physical persuasion that ordinarily cannot exist in transparent, open-source code.

However, when that code is able to exponentially increase the output of physical proof-of-work mining, to the point of mining rigs becoming unusable , the code crosses a line from the virtual realm into the physical world and allows manipulation through new developer hard fork EIPs.

This in turn persuades both miners and users to comply with the developer roadmap. This is particularly concerning when you consider that the largest ether holders can easily influence the developers who work for the Ethereum Foundation. In a recent interview with Peter McCormack, Ethereum Core Developer Lane Rettig recounted that he was often lobbied by large whales to accommodate their requests.

It is interesting to note that when or if Ethereum moves to proof of stake, the difficulty bomb is expected to be retired. While there are those in the Ethereum community who are aware of this coercion , there are also those who are unphased by this apparent ethical oversight. After all, the difficulty bomb and the move to proof of stake is part of the public roadmap and a was disclosed to all parties involved.

Nevertheless, this past roadmap transparency does not make brand new EIPs, that can contain new and unexpected rules, any less coercive when they are forced by the impending threat of difficulty bombs. One might point out that Bitcoin halvings encourage miners to work harder for less reward every four years. However, this argument is dubious. Bitcoin is different. By having a fully-released project and a culture of soft forks, your bitcoin full node assures you the strongest user rights and guarantees your accessibility over time with backwards compatibility.

Whales cannot pressure Bitcoin devs to forcefully change the rules on you with soft forks — you can simply dissent and keep using Bitcoin. Your user rights as an individual user of bitcoin are yours and yours alone to uphold, by running your own full node, with relatively inexpensive hardware.

Bitcoin users and miners are not beholden to developers. The consensus needed to move the protocol forward is reached in a conservative manner — through users and miners signaling their acceptance of each update. Ethereum plutocrats can have their difficulty bombs, aggresive deflation at the expense of lower classes and coercion.

Bitcoin is freedom from that tyranny. Bitcoin elevates users above developers and miners. It empowers users to choose the protocol rules they want and levels the monetary system playing field for the first time in human history.

Bitcoin is on a mission of hope, peace, abundance and prosperity. This is a guest post by Level Press Releases. By Shawn Amick. By Aaron van Wirdum. By Nic Carter and Lucas Nuzzi. By Mir Quadri. By Namcios. By Level By Dilution-proof. By Dylan LeClair. By Christian Keroles. See More.

Ethereum Upgrade Delays 'Difficulty Bomb'

Are you a techie who knows how to write? Then join our Team! English native speakers welcome! German-English-Translator - Details here English native speakers preferred. Climatic change is a major concern right now and we are seeing a big shift towards electrical cars and renewable sources of green energy. The London hard fork initiated back in August was supposed to begin a gradual rise in mining difficulty that would essentially reduce the control GPU miners have over the network and tangentially ease the pressure on the GPU demand. Unfortunately, the NFT craze prompted a huge boom in energy consumption on the mining side, even though the mining rewards are already declining.

The Ultimate Guide to the Ethereum Berlin Hard Fork and London Hard Fork

Ethereum Classic is an open source , blockchain -based distributed computing platform featuring smart contract scripting functionality. Ethereum Classic maintains the original, unaltered history of the Ethereum network. However, due to a hack of a third-party project, the Ethereum Foundation created a new version of the Ethereum mainnet on 20 July with an irregular state change implemented that erased The DAO theft from the Ethereum blockchain history. Ethereum Classic's native Ether token is a cryptocurrency traded on digital currency exchanges under the currency code ETC. Implemented on 11 December , the current ETC monetary policy seeks the same goals as bitcoin of being mechanical, algorithmic, and capped. ETC can be exchanged for network transaction fees or other assets, commodities, currencies, products, and services. Ethereum Classic provides a decentralized Turing-complete virtual machine , the Ethereum Virtual Machine EVM , which can execute scripts using an international network of public nodes. The virtual machine's instruction set is Turing-complete in contrast to others like bitcoin script. Gas, an internal transaction pricing mechanism, is used to mitigate spam and allocate resources on the network.

Difficulty

Can open-source blockchains be coercive? It's basically like physical violence or the threat of physical violence, or theft or breach of contract. Those categories of things I call coercive. What's not coercive is if you're part of an open-source software project and the majority in that project wants to do something and you don't. And so the project goes in a direction that you didn't want it to go in.

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When writing solidity contracts that use the difficulty and random field it would make it easier to audit when code may depend on the semantics of one over the other. Existing smart contracts will be able to use the EVM instruction with the same number as a source of randomness outputs disregarding the Merge has happened or not. This improvement seems like it will lead developers down a disingenuous path. Imagine someone being able to hack every single randomness-based application on ETH, lotteries, raffles, etc in a single go. Like a defi protocal hack times infinity. We are talking billions of dollars here.

Ethereum Difficulty historical chart

In the first week of August , Ethereum developers are releasing a new set of upgrades to the platform. Ethereum 2. However, these upgrades will affect the amount of rewards earned by miners, and will force many users to stake their ETH and decrease their liquidity. Since the announcement of releasing the first phase of Ethereum 2. Before proceeding, please read our disclaimer on investment related articles.

Can You Still Earn Money Mining Ethereum?

What is an EIP? What is EIP? The London hard fork is a network upgrade of the Ethereum protocol that introduces two EIPs aimed to adjust its transaction fee model and set a difficulty bomb for miners, respectively. The difficulty bomb is a mechanism that would prepare network validators to switch from the current proof-of-work PoW to a proof-of-stake PoS consensus model in anticipation of the shift towards Ethereum 2.

Claymore's Dual Ethereum AMD+NVIDIA GPU Miner

RELATED VIDEO: Ethereum Difficulty Bomb Is Activated?

It is expected to explode during the winter. As the name suggests, it dramatically hinders ETH mining exponentially, increasing the time it takes to mine each block. Interestingly, the bomb was purposely planted in The goal was to force developers to implement Ethereum 2. In this scenario, developers calculated how long it would take in blocks to postpone the bomb until December.

Ethereum Runs into a Difficulty Spike, Bitcoin Dev Smells Disaster in January Hark Fork

The Ethereum network is set to implement an upgrade called Arrow Glacier on Dec. A key impact of this upgrade is that it will delay the onset of a so-called " difficulty bomb "—which would hamper or halt further mining of its Ether ETH cryptocurrency —to June More specifically, Ethereum's developers are working toward the creation of Ethereum 2. Under the current proof of work model utilized by Ethereum, miners must solve complex mathematical problems or puzzles to validate transactions. A key critique of this model centers on its negative environmental impact, since it results in heavy use of computer power and thus of electricity.

The Coercion Of Ethereum's Difficulty Bomb

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