[RFC-0019] PoW Block Spacing

1 Like

One per block in one hour is a very wee number of blocks. It is thought that as a result of this update, in the form in which it is now presented, the project may lose part of the community involved in POW mining. This is the negative side. It is wiser to completely separate the recalculation of difficulty for the ProofOfStake and ProofOfWork and establish different TargetSpacing.

Here is an example of how such a wallet works - https://chainz.cryptoid.info/cache/
POW - 15min.
POS - 10min.

In the wallet, I use my own aggressive algorithm for recalculating complexity. Therefore, the alternation of ProofOfStake and ProofOfWork is so orderly.

Best regards, Deff, Yuri.

The block spacing is currently approximately 60 minutes. This proposal does not change the average number of blocks, it makes it more dependable how they can be found. Going to 15 minutes, as you propose, would multiply the number of blocks found by 4, which would also cut the difficulty by 4x, and increase the inflation rate by more than 4x (because of both the increase in number of blocks and the decrease in difficulty). The result would be over 10% inflation, which would be devastating for Peercoin’s economics and completely unnecessary considering PoW isn’t responsible for Peercoin’s chain security.

We could manually decrease block rewards by 4x, but again PoW is not responsible for Peercoin’s security, so increasing the PoW block frequency is not the goal of this proposal at all. Besides, if we announced that we were decreasing the PoW reward by 75%, I think the mining community would be equally upset.

You can see here a graph of the block ratio PoS/PoW:
https://www.peercoinexplorer.net/charts/blockratio/5/linear/default

We do not want to change the average of 6 that this graph shows. We merely want to reduce the variance.

For PeerCoin, this number of blocks per hour is not necessary, I agree with you, they are indicated by me as an example. I believe that we need a more advanced algorithm to recalculate the difficulty. This is necessary to maintain a stable number of blocks per hour and for a stable ratio of blocks POS - POW.

Best regards, Deff, Yuri.