Blockchain Type: Public, Decentralized, UTXO based, Multi-Algorithm Proof-of-Work
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Difficulty Adujstment: custom DGWv3
Mining Difficulty is regulated by a custom Dark Gravity Wave v3, aided by hashrate “Surge Protector” and “Resurrector” functions. The Surge Protector comes into play if there is a string of 9 blocks in-a-row by the same algorithm. The Resurrector activates whenever an algorithm has not contributed blocks for over 160 minutes, something that is extremely unlikely to happen if the difficulty is well matched to hashrate.
Multiple Proof-of-Work Algorithms: 8 mPoW
Eight proof-of-work algorithms are able to contribute blocks to the Bitmark blockchain. The algorithms are:
Miners may mine Bitmark not only with Scrypt, but with all these algos, several of which are ASIC-resistant, thus democratizing the mininig and putting an end to the selfish-mining situations we have faced in the past.
Coin Emission Modulation: CEM v0.1
Bitmark v0.9.7.0 introduced Coin Emission Modulation, (CEM v0.1) which varies the block reward on 1/2 the nominal mining subsidy (block reward) by proportioning that half with the ratio of current hashrate to peak hashrate, which is the highest hashrate seen during the past year. The ratio, current_ht /peak_hr is called the subsidy scale factor (SSF).
In CEM v0.1, the Subsidy Scale Factor (SSF) applies to 50% of the block reward; on the proposed CEM v0.2: SSF affects up to 80% of the block reward.
The rationale behind Coin Emission Modulation is to reduce coin emission when demand is relatively low (as sensed by reduced hashrate) and only emit the epoch’s full reward when hashrate is at its peak.
Regardless of hashrate, 50% of the epoch’s full block subsidy (1/2 of 15 MARKS or 7.5 MARKS currently) is always given, to reward loyal miners supporting the Bitmark blockchain through low and high demand periods.
“Surge Supressor” triples difficulty if 9 blocks in-a-row occur from the same algo,
“Resurrector” slices difficulty by 1/3 if an algo has not contributed in over 160 min.