DEVTOME.COM HOSTING COSTS HAVE BEGUN TO EXCEED 115$ MONTHLY. THE ADMINISTRATION IS NO LONGER ABLE TO HANDLE THE COST WITHOUT ASSISTANCE DUE TO THE RISING COST. THIS HAS BEEN OCCURRING FOR ALMOST A YEAR, BUT WE HAVE BEEN HANDLING IT FROM OUR OWN POCKETS. HOWEVER, WITH LITERALLY NO DONATIONS FOR THE PAST 2+ YEARS IT HAS DEPLETED THE BUDGET IN SHORT ORDER WITH THE INCREASE IN ACTIVITY ON THE SITE IN THE PAST 6 MONTHS. OUR CPU USAGE HAS BECOME TOO HIGH TO REMAIN ON A REASONABLE COSTING PLAN THAT WE COULD MAINTAIN. IF YOU WOULD LIKE TO SUPPORT THE DEVTOME PROJECT AND KEEP THE SITE UP/ALIVE PLEASE DONATE (EVEN IF ITS A SATOSHI) TO OUR DEVCOIN 1M4PCuMXvpWX6LHPkBEf3LJ2z1boZv4EQa OR OUR BTC WALLET 16eqEcqfw4zHUh2znvMcmRzGVwCn7CJLxR TO ALLOW US TO AFFORD THE HOSTING.

THE DEVCOIN AND DEVTOME PROJECTS ARE BOTH VERY IMPORTANT TO THE COMMUNITY. PLEASE CONTRIBUTE TO ITS FURTHER SUCCESS FOR ANOTHER 5 OR MORE YEARS!

Dogecoin 1.6 Update and What it Means to You

www.cryptocoinsnews.com_wp-content_uploads_2014_02_doge-fork.jpg

Dogecoin is currently preparing to go through a fork that will keep mining pools from being able to exploit the way the block rewards work. The fork is set to happen at block number 145,000, which is just a few days from now, and after that point you will need to be using version 1.6 of the client in order to stay on the correct branch.

Exploited By Multi Pools

There are many sites that offer up mining of the most profitable coins so you can link up to the pool and allow it to handle the rest on its own. This has been an issue for a while, in that as soon as a coin becomes profitable it will see its difficulty shoot up (due to the massive influx of hash power), and shortly after it will die off again, sometimes leaving some difficulty problems left behind (in that you need to wait for the next adjustment before it will fix itself again, and usually when that happens all the hash rate returns). This ends up hurting the most loyal miners of these coins, and rewards the mining pools with higher earnings.

When it comes to Dogecoin, things were a bit more problematic. Instead of only dealing with the difficulty swings, there was another issue: randomized big block rewards. From time to time, a block would pop up that had higher than normal rewards, making it much more valuable than the others. The issue with this is that mining pools were able to guess which blocks this would happen with, and they would move their hash power over just for those blocks (in anticipation of the higher rewards). This meant that even if the profitability, as a whole, had not increased, they could see that the next block would be double the reward and could act accordingly. As you might guess, this meant that the little guys that are there to mine the coin to support it were once again left in the dust, while those that wanted to exploit the reward system were making all of the profit.

Taking a Stand

Dogecoin, with its 1.6 update, is fixing a couple of issues with how the coin works:

  • It is running something called the “DigiShield difficulty algorithm,” which is designed to allow pretty much instant difficulty adjustments. So if the mining pools jump on, the effect will take place sooner, and as soon as they get off it will jump back to normal again. This is a huge benefit in that it decreases their effect on the other miners and their difficulty when it comes to mining the coins
  • It is removing the randomized larger blocks and is instead going to just do 250,000 Dogecoin rewards for all blocks (except after it is halved, of course). This puts everyone on an equal mining field and helps figure out profitability a lot easier for everyone involved. It also cuts down on the exploits that can be run on it, ensuring that people know ahead of time what their rewards should be instead of just guessing

The Future of Dogecoin

Dogecoin has now gone through a couple of forks to fix problems with it, and I think this is a great sign that the coin has potential. I can not count how many other coins have problems that the developers are not fixing or do not know how to fix, and while I have always viewed Dogecoin as sort of a mock of Bitcoin, it is showing itself as a real competitor. I am definitely looking forward to seeing what comes out in the future with it, and I absolutely love the fact that the developers are constantly working to make the coin more efficient and fair to everyone. Great job, Dogecoin!

Cryptocurrency


QR Code
QR Code dogecoin_1-6_update_and_what_it_means_to_you (generated for current page)
 

Advertise with Anonymous Ads