Gotcha. I thought you meant you developed a more accurate way to estimate the total network hashrate on Bitcoin, than simply deriving it from difficulty and block count per day/week/etc
Discussion
no, i was talking about a dynamic difficulty adjustment, which uses statistical analysis to derive an estimate of the current difficulty target
you got me thinking though... would be quite interesting to create a simple app that just follows the bitcoin chain and demonstrates what a better dificulty adjustment would give you at each block height versus the existing scheme
Yea that would be a cool study. But in practice, I think a more dynamic system like that would be easier for a large miner to game or cause havoc.
well, i have studied the subject pretty close, i think that if it's properly written it can be better
it's a hard job because it really needs to be as simple as possible
i'd love to do something like this though, just to demonstrate it... easy to capture the data, and you can have an app that derives the system's estimations and shows you the error divergence at each block due to the super simple adjustment scheme, and lets you see several alternative methodologies applied... i think it would be a great educational tool and maybe it would lead to an upgrade of this element of bitcoin protocol due to the clear advantage
it really isn't that complicated... current system is like a thermostat that adjusts every 2 weeks... advanced adjustment systems have been long settled in other fields of tech, like the segway/hoverboard things... that is exactly this math applied to motion, and it's extremely stable now, ridiculously stable, hell i remember 14 years ago it was being applied to military jets to improve their maneuverability