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How Often Does Ethereum Difficulty Change

How Often Does The Ethereum Difficulty Level Recalculate? : Ethereum

How Often Does The Ethereum Difficulty Level Recalculate? : Ethereum

Welcome to r/Ethereum , the front page of the Web 3. No inappropriate behavior. This includes, but is not limited to: personal attacks, threats of violence, gossip, slurs of any kind, posting people's private information. Keep price discussion and market talk, memes & exchanges to subreddits such as /r/ethtrader Keep plain ICO advertisements to subreddits such as r/ethinvestor . Keep mining discussion to subreddits such as /r/EtherMining . No creating multiple accounts to get around Reddit rules. English language only. Please provide accurate translations where appropriate. Posts and comments must be made from an account at least 10 days old with a minimum of 20 comment karma. Exceptions may be made on a discretionary basis. Continue reading >>

Ethereum 'difficulty Bomb' May Not Happen For Another Year Or Two - Bitsonline

Ethereum 'difficulty Bomb' May Not Happen For Another Year Or Two - Bitsonline

Ethereum Difficulty Bomb May Not Happen for Another Year or Two There will be another delay for Ethereum minings difficulty bomb and switch to a proof-of-stake (POS) network, developers say. The decision could affect miners economic decisions in the near future, such as how much to invest in equipment and how much hashing power to devote to ETH. Also read: Shanghai Authorities Halt Blockchain Event, but No Fears of Wider Crackdown Increased Difficulty Means Leaner Times for ETH Miners There will likely be a squeeze on Ethereum blocks and block rewards from now until a new update arrives in late September. Reports from an Ethereum developers conference call last week said the long-proposed POS implementation, called Casper, will still not be ready soon. Originally planned for late 2017, the roadmap could push Casper back to the end of 2018 or later. Moving to POS has long been part of Ethereums roadmap, though the exact timing is unknown. It would fundamentally change the network, removing all ETH mining activity as it currently exists. Ethereum currently mines using proof-of-work (POW) like Bitcoin, where powerful machines race to solve a complex math problem and receive block rewards. Ethereum blocks are mined roughly every 12 seconds (depending on difficulty) and the block reward is 5 ETH. The rapid rise in ETH value from around $8 USD at the start of 2017 to around $400 in June has seen a rush to mine the token . It has also created a worldwide shortage of GPU cards. Under a POS model, Ethereum would require no GPUs at all. The difficulty bomb is code inserted into Ethereum that increases POW mining difficulty exponentially in preparation for POS introduction. The period where it gets too difficult to mine at all is called the Ice Age and its already beginning. The Continue reading >>

When Will Ethereum Mining End?

When Will Ethereum Mining End?

In August of this year (2017), Vitalik Buterin, creator of Ethereum , released the implementation guide for the first version of Casper. As a hybrid proof-of-stake (PoS)/proof-of-work (PoW) algorithm, Casper v1 is going to decrease (and eventually end) the profitability for Ethereum miners . The release date is estimated to be sometime in 2018 as part of the Constantinople hard fork and theres a lot to learn before this happens: Casper is a PoS algorithm thats projected to be released on the Ethereum network sometime in 2018. Beginning as a hybrid with the current PoW algorithm, the first version of Casper will only use a PoS consensus to validate every 100th block, called checkpoints. Once a checkpoint is validated, theres no way to go back and use a chain without it. Even if 99% of miners support a chain that doesnt include a checkpoint block, all clients in the network will still continue to use the one with the checkpoints. This removes a lot of the power that miners currently have. The Ethereum community hypothesizes that the switch to PoS will help with the scaling issues that the network is currently facing. The algorithm should enable new blocks to be created more quickly while allowing the network to scale more efficiently through sharding. Sharding is a horizontal partitioning of a large database into smaller and more easily managed parts. Beyond that, PoS algorithms also use less energy to run the network, reduce centralization, and make 51% attacks more difficult. With the upcoming hard fork, there could potentially be three forks of Ethereum: And, if youre a miner, you may be thinking, No big deal, Ill just continue to mine and give support to the Ethereum PoW fork. The Ethereum developers have stated that theyll be releasing what they call the difficulty Continue reading >>

Ethereum Is Entering The Ice Age

Ethereum Is Entering The Ice Age

The difficulty-bomb is starting to expand. Miners need more and more time to find new blocks. This process shall help to improve Ethereum by switching to Proof of Stake ! The difficulty bomb isn't really noticable yet. Since the beginning of this year the price of ETH increased dramatically. Naturally Ethereum's hashrate and thus it's mining difficulty are following this growth. But if you look into the historical charts you can see that difficulty and hashrate are slowly starting to drift apart. Naturally they should be delayed synchronized (more hashrate -> increasing difficulty) But in this case the Difficulty is running away and starts with it's programmed increase. It is normal and important for the Difficulty of the cryptographic task for the miners to increase with the hashrate. This can guarantee a specified blocktime even if the involved computing power is increasing. This is used to fix parameters like coin inflation, transaction speed, etc. But Ethereum is loosing it's balance of diffifulty and hashrate. The Difficulty is increasing faster than the Hashrate. Previously the Ethereum Blockchain handled a Blocktime of 14 seconds. Now it already takes 15 seconds to generate new blocks. This doesn't seem to be that much, but this should be understand as a significant indication ! Simultaneously the number of new created Ether is starting to decrease. In January and February Miners produced around 30.000 new ETH per day. Today there are only ~ 27.000 new ETH created. So far the effects of the difficulty bomb are harmless. They are noticable while looking into the numbers, but tey aren't effecting But the effects will dramatically increase within this year. The Difficulty Bomb is growing exponential ! It is expected for the blocktime to reach 30 seconds per block t Continue reading >>

Ethereum's Difficulty Bomb: All Smoke, No Fire? - Coindesk

Ethereum's Difficulty Bomb: All Smoke, No Fire? - Coindesk

Ethereum's Difficulty Bomb: All Smoke, No Fire? Sometimeinthe future(we can't be certain when), ethereum will likely switch from its proof-of-work consensus algorithm to Casper, a proof-of-stake system its developers are now in the throes of completing. While this may sound like a slight change to those who are unfamiliar, altering this one parameter will have an outsized effect.When the protocol change happens, the ethereum blockchain will hard fork, meaning that, for a short period of time, two networks the old and new will exist simultaneously. At that point, the goal for ethereum will be to persuade the majority of its users to upgrade to thenew proof-of-stake-powered blockchain. Otherwise, ethereum risks winding up creating another blockchain, as it did when a past technical update created ethereum classic . On the surface of things, getting the companies that use the ethereum network to switch should not be a problem. After all, proof of stake promises to be faster and more scalable, and to consume far less energy than proof of work. To most of the ethereum community, Casper sounds like a great deal. Unless, of course, you are a miner. That's because proof of stake doesnt rely on mining. Rather, it gives the job of creating the next block to those who own tokens on a blockchain a move that essentially puts miners out of a job . But, two things could go wrong with ethereum's big switch. One would be if Casper does not work as planned. In this case, ethereum could simply delay the switchover. The second is if miners continue mining the old chain. But ethereum has always had a plan for that something called the 'difficulty bomb'. Baked into ethereum shortly after the network launched, the difficulty bomb was created to make mining a block increasingly difficult over Continue reading >>

Ethereum Difficulty Historical Chart

Ethereum Difficulty Historical Chart

btc eth bch ltc dash btg xmr etc zec doge vtc ppc ftc nmc rdd blk aur nvc qrk mec bat btg bcc emc2 sc dgb nav sys pot vrc via kore wc dope cloak xwc icn unb ptc grc bela xst slr enrg efl trust btcd net rby uno btcs air sxc moon trc mint pxc bost grn hbn wdc cat super zet qtl utc plc xpy bits top cc nyan arg fire uro con hal Continue reading >>

Jump In Ethereum Difficulty (+20%)

Jump In Ethereum Difficulty (+20%)

Hashrate is the same, difficulty rise and reward of course down. 12+ exclusive games The Bitcoin Casino by Primedice Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here. FREE 1,000 mBTC daily for LuckyJack winners Quote from: adaseb on September 23, 2017, 08:54:05 AM We have been getting these jumps for a few months already and I am surprised there are many who have no idea what these are. Why bother with researching details and informing yourself about what you are mining when instead you can continue to buy rigs at 150% normal retail prices and hope for the moon! The Byzantium fork planned for the second week of October will roll back the ICE AGE difficulty ramp ups and return to the network difficulty predicated on the total hash rate along with a return to 15 second block times and a reward reduction to ~3 ETH. That should make the ETH mining payouts more than they have been in the last couple of months. Its the difficulty bomb, mining eth is sure going to be very unprofitable soon and looks like the prices aren't getting any better, hopefully we can mine other stuff, check out monero if you're on amd and vtc if nvidia Quote from: Jdope on September 23, 2017, 09:56:09 AM Its the difficulty bomb, mining eth is sure going to be very unprofitable soon and looks like the prices aren't getting any better, hopefully we can mine other stuff, check out monero if you're on amd and vtc if nvidia Right now the block reward is 5 ETH with 30 second block times, which is 10 ETH generated per minute at an artificially high difficulty from the ICE AGE ramp up's. After the Byzantium fork the block reward will be ~3 ETH every 15 seconds, or 12 ETH generated per minute and a return to a lower netwo Continue reading >>

How Is The Mining Difficulty Calculated On Ethereum?

How Is The Mining Difficulty Calculated On Ethereum?

Having read various pieces of documentation, it's still not completely clear to me what dictates the difficulty rise, and how Ethereum difficulty levels differ to Bitcoin. In the past week difficulty has jumped from around 11 to over 17, whilst GH/s has fluctuated between 800.00 - 1400.00 but with no clear correlation between the two. Has the "difficulty bomb" now been introduced? And if yes, is there any way for approximating or calculating how much difficulty will likely rise by in the next 6-12 months? Related: If Serenity / PoS is unlikely to be introduced until early next year, has there been any suggestion from the dev team that the effects of this "difficulty bomb" will be reduced in either the homestead or metropolis releases? From : Mining difficulty is calculated from the time difference between blocks. The exact formula will change in Homestead. The symbol // in the following denotes integer division. block_diff = parent_diff + parent_diff // 2048 * (1 if block_timestamp - parent_timestamp < 13 else -1) + int(2**((block.number // 100000) - 2)) block_diff = parent_diff + parent_diff // 2048 * max(1 - (block_timestamp - parent_timestamp) // 10, -99) + int(2**((block.number // 100000) - 2)) The problem with the frontier formula and the reason for the change was that the frontier version doesn't take into account how far off from 13 seconds the block time was. A block mined 1 second after the previous one has the same effect on the difficulty as one mined after 12 seconds. This causes block difficulty to adjust to a median block time rather than a mean. Again, check out the EIP for more details. Apologies that I lack the the knowledge but how exactly would I use this to calculate? Seeing the difference "< 13 else -1" vs "// 10, -99" it's not clear to me what the Continue reading >>

How Difficulty Adjustment Algorithm Works In Ethereum

How Difficulty Adjustment Algorithm Works In Ethereum

How Difficulty Adjustment Algorithm Works in Ethereum In order to explain the logic of difficulty adjustment, we will use the go implementation of Ethereum which is generally called Geth. Source code of Geth can be found here. Difficulty adjustment algorithm is coded inin block_validator.go file, which can be found here. By difficulty adjustment we mean the logic in Ethereum using which Ethereum tries to keep mining time of the blocks between 10 to 19 sec. If difference in mining time is between 0 to 9 sec. then Geth tries to increase the difficulty to mine the block and if difference is 20 sec. or more, then Geth tries to reduce the mining difficulty of the system. In block_validator.go file, function CalcDifficulty is called to adjust the difficulty of the system and it returns the difficulty of the next block when it will be created. This function, in return, calls calcDifficultyHomestead or calcDifficultyFrontier depending on the configuration parameters. Latest version of Ethereum uses calcDifficultyHomestead function, therefore we will be reviewing calcDifficultyHomestead function. In order to calculate the difficulty of the new block, this function needs following input parameters: time Proposed time of formation of new block parentTime Time of formation of parent Block parentNumber Parent block, block number. Below is step by step process how difficulty of new block gets created. 1. First, difference between time of formation of parent block and new block is calculated. 2. Output of step 1 is then divided by 10 and integer of it is stored. This is done to create ranges. If output of step 1 is between 1 9 then output of this step will be 0. If output of step 1 is between 10 19 then output of this step will be 1. If output of step 1 is between 20 29 then output o Continue reading >>

Mining Ethereum/wiki Wiki Github

Mining Ethereum/wiki Wiki Github

The word mining originates in the context of the gold analogy for crypto currencies. Gold or precious metals are scarce, so are digital tokens, and the only way to increase the total volume is through mining it. This is appropriate to the extent that in Ethereum too, the only mode of issuance post launch is via the mining. Unlike these examples however, mining is also the way to secure the network by creating, verifying, publishing and propagating blocks in the blockchain. Mining Ether = Securing the network = verify computation Ethereum Frontier like all blockchain technologies uses an incentive-driven model of security. Consensus is based on choosing the block with the highest total difficulty.Miners produce blocks which the others check for validity. Among other well-formedness criteria, a block is only valid if it contains proof of work (PoW) of a given difficulty.Note that in Ethereum 1.1, this is likely going to be replaced by a proof of stake model. The proof of work algorithm used is called Ethash (a modified version of Dagger-Hashimoto ) involves finding a nonce input to the algorithm so that the result is below a certain threshold depending on the difficulty. The point in PoW algorithms is that there is no better strategy to find such a nonce than enumerating the possibilities while verification of a solution is trivial and cheap. If outputs have a uniform distribution, then we can guarantee that on average the time needed to find a nonce depends on the difficulty threshold, making it possible to control the time of finding a new block just by manipulating difficulty. The difficulty dynamically adjusts so that on average one block is produced by the entire network every 12 seconds (ie., 12 s block time). This heartbeat basically punctuates the synchronisation Continue reading >>

Ethereum Mining Difficulty Increased Significantly

Ethereum Mining Difficulty Increased Significantly

Ethereum mining difficulty increased significantly What is the reason of Ethereum's abnormal difficultyincrease? Open-source blockchain-based distributed computing platform featuring smart contract functionality, which facilitates online contractual agreements For the last 24 hours, Ethereum mining difficulty increased by20%. ETC mining difficulty is now almost 1208234552666986.0, this is all-time record. This situation can be caused by so called "Difficulty bomb impact". Distributed databasethat is used to maintain a continuously growing list ofrecords, calledblocks. How this will affect the price of ETC in the medium and long term we cannot know. Today, 10 of July, Ethereum lost about 6% in last 24 hours. Now it's $229. The Ethereum Ice Age is a difficulty adjustment scheme that was put in place to ensure that everyone has an incentive to move to the new blockchain once the hard-fork is implemented. It was introduced on the 7th of September (2015-09-07), about 11 months ago and it's programmed to raise difficulty exponentially. It's impossible for miners to keep up with the increase of difficulty which would raise block time and it would make the blockchain freeze, hencethe name Ice Age. Continue reading >>

What Is The Ethereum Difficulty Bomb?

What Is The Ethereum Difficulty Bomb?

Over the past few months, there has been a lot of speculation regarding Ethereums mining difficulty. This problem is known as the Difficult Bomb, and it poses a significant threat to the ecosystem. Or that is what most people think will happen if things ever come to such a point. Switching to proof-of-stake should make this a non-issue, though. Now is a good time to look at Ethereums difficulty bomb and what it could potentially mean for the network if left unchallenged. The Ethereum Difficulty Bomb Makes Mining Impossible It is important to understand the problem of the Ethereum difficulty bomb first and foremost. When Ethereum was first created, the developers had to create a consensus algorithm. Similar to Bitcoin, this consensus is achieved through mining in a proof-of-work environment. However, with the mining difficult going up over time, it could potentially create a problematic scenario. After all, it does not appear there will be ASIC-like mining hardware for Ethereum anytime soon. However, the Ethereum developers have come up with a different plan. From the outset, the plan was to make Ethereum mining impossible at some point in the future. This change will be introduced through an arbitrarily difficult block to mine, which will effectively create the difficulty bomb in question. As this difficulty bomb is activated on the network, the mining difficulty will skyrocket and eventually make Ethereum mining unfeasible and extremely unprofitable. Some people would expect this to be the end of Ethereum, but there is no reason to panic just yet. The goal is to switch over to a proof-of-stake algorithm before the Ethereum difficulty bomb can even become a problem. Right now, that PoS algorithm is still in development, albeit its completion appears to be imminent. Do Continue reading >>

Mining Difficulty And Network Hashrate Explained | 2miners Blog

Mining Difficulty And Network Hashrate Explained | 2miners Blog

Mining Difficulty and Network Hashrate Explained Let's try to understand what network difficulty and hashrate are. I'm in Crypto World, literally, for three months. I'm still not going to claim that I have a super knowledge. It was challenging for me to understand the principles of the cryptocurrency networks, so I decided to share my perspective on them. There are a lot of chats out there on the subject of cryptocurrency mining and trading. A typical question for any newbie would be something like, "which ASIC to buy or which mining rig to build," and the response is: "Take a look at the growing difficulty of the network and don't even think about getting into this business!" Lets have a look at the hashrate and difficulty of a Musicoin blockchain (similar to Ethereum, same as a Dagger Hashimoto algorithm). The values are smaller than you think, so I hope it will be easier for you to understand the idea this way. Each cryptocurrency network has a block time parameter. In Musicoin the block time is 15 seconds. Lets assume that all miners around the world are solving a big puzzle. Each piece is called a block. A musicoin block is found every 15 seconds in an ideal world. But this is not the case, so sometimes it could be 1 second or even 1 minute. However, the average block time is 15 seconds. How is this parameter being held regardless of the number of miners that connect to the network? It is evident that if there are lots of miners, they should find blocks frequently (here is an example of an empty block at UBIQ ), and if there are only a few miners, the blocks will be rare, and the network transactions will take a very long time. Currently, a miner or Mining Pool (many miners working together) receive 309 Musicoin coins ($13) for one solved Musicoin block. In the Et Continue reading >>

Ethereum Price Analysis - The Network Marches On

Ethereum Price Analysis - The Network Marches On

Ethereum Price Analysis - The network marches on Josh Olszewicz , 17 Oct 2017 - Ethereum , Ethereum Price Analysis , Opinion Ethereum ( ETH ) now has a US$31 billion market capitalization , second only to Bitcoins US$93 billion. Over the past 24 hours, ETH was the second largest digital cryptocurrency or asset by trade volume, below Bitcoin .Despite a spike in price in the days preceding the Byzantium Fork , which is nowliveand running smoothly, price remains largely range bound.The Metropolis update will also include a second hard fork, Constantinople, expected in 2018. After any fork or protocol change event, its important to evaluate how the changes were perceived by the network and why, especially with a cryptocurrency with a US$31 billion market cap. The metrics include; transactions per day, difficulty, hash rate, block time, and total nodes. Transactions per day will continue to rise should the network demand continue unabated, just by the nature of these changes. One of the goals for Metropolis is to increase scalability through transaction capacity of the network. This can either be done by decreasing block time, thus allowing for more transactions per day, or, increasing block size. In this case, block times have dropped significantly. Difficulty has also dropped significantly, as scheduled . Block time and difficulty are directly related. Should hash rate remain the same, a decrease in difficulty means a decrease in block time. Hash rate has now hit a new ATH, with some miners likely attempting to cash in on the substantial decrease in difficulty. Although the difficulty bomb has been delayed by one year, scheduled difficulty increases will continue, again squeezing mining profitability. Block rewards have dropped from 5 ETH to 3 ETH to combat inflation as w Continue reading >>

7 Answers - Why Is Ethereum's Difficulty Rising When Ethereum Is Down 50%? - Quora

7 Answers - Why Is Ethereum's Difficulty Rising When Ethereum Is Down 50%? - Quora

Why is Ethereum's difficulty rising when Ethereum is down 50%? Over $20,000 in your IRA or 401k? Here's how to move to Bitcoin. Open a Bitcoin IRA now for massive growth potential on a tax-deferred basis. Get a free info guide now. The difficulty has no direct correlation with price. So, in this case, it means that even with the price down, at least the same amount of hashing power is in play to sustain the Ethereum Network. Why? We can only guess, but at least these miners see good reasons to continue to mine. The next month, the ETH value drops by 50% You can re sell all your rig for say $7000. You lose $3000. Or you can still mine and earn some ETH that might be worth much more in the future. Trading has a short term horizon. Mining has a long term horizon. You cannot buy and sell a rig as fast as buying and selling a bitcoin. Learn blockchain. Earn up to an average of $63,566 per year. Master the concepts like cryptography & cryptocurrency, blockchain networks, bitcoin mining & security. There's no correlation between the hash rate and the price. The hash rate is a function of total computational power on the network. New computers get added and older dogs get upgraded so it makes sense that the hash rate will continually increase over time. The price of ether is a function of trading volume and ultimately the supply and demand. It acts similarly to a traditional stock market in this sense with some interesting differences. If the price continues to call it means there is greater selling pressure than those looking to buy it. In the examples below about the price of the rig and the incentive to hold it lies the basic incentive for miners. While the price of ether is high enough, where you might break even, there is the potential to make a profit of the price increa Continue reading >>

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