Bitmark is a Proof-of-Work (PoW) coin, started as single Scrypt PoW when introduced in 2014, and now has eight PoW algos, a very succesful evolution to
8mPoW, governed by an effective difficulty algo, Dark Gravity Wave v3,
DGWv3 and, with an
emission control policy dubbed "Coin Emission Modulation", in its first version,
CEMv0.1 All algos have the Auxiliary chain Proof-of-Work submission (
AuxPoW) feature: they are "merge-mineable". Bitmark was probably the first coin to offer as many, 8 PoW algos and all merge-mineable.
But, there have been calls for some algos to go back to native-only, and for the distinction between the production cost of merge-mined blocks and native-mined blocks be taken into account in general.
@onelineproof coded most of our vision for the
current v0.9.7.2, and it is certainly a very solid, secure blockchain, flowing well, producing blocks regularly and promptly
That said, I thinks we can add some natural improvements. With the drive to keep building on our success, for example, CEM v0.1 which has been well received in general, can be improved. Let's give it authority over a larger part of the epoch base reward; it's warranted.
CEM v0.2 will act on 80% of the epoch base block reward, instead of on 50%. The lookback time window has been softened a bit: instead of "remembering" back a whole year, we only look back 3 months, because it seems rather harsh to punish loyal miners for hashrate peaks that happened more than 3 months ago. This will have the effect of restoring full emission that much quicker after a high hashrate event, while still deploying the "
CEM Effect" for a substantial amount of time.
For the Road Map: I propose an additional,
9th PoW algo, Groestl (or Grøstl)
as a native-only algo, and
also revert Argon2d and Yescrypt to native-mined only. This would make the individual algos' target block time 18 minutes (for a combined production of a block every 2 minutes) . Code for this is taking shape in the 0.9.9 branch of the project-bitmark github repo.
This would mean 2/3 of the algos are merge-mineable, and 1/3 are native-mined only. This will have the effect (that @onelineproof should like) of keeping to a larger emission and making it so that (I like this ...) it goes to miners who prize them a bit more, as they are the mainline, and not merely a bonus.
As I've argued in previous posts (and been pilloried by @one lineproof) I do believe that merge-mined blocks should be rewarded at a lower fraction than native mined blocks: currently Fork#2 v0.9.8.3, will map native CEM to the range 10% - > 20% for merge-mined block rewards. But I am open to reasoned arguments and discussions about what fraction of the CEM-modulated full epoch block reward merge-miners should receive and any other aspects.
All are welcome to comment, and now's the time.
We would like to hear all opinions and viewpoints,
expressed respectfully and bringing solutions & shedding light on issues.
Dev Time Frames : we will release 0.9.8.3 today. Bitmark v0.9.8.2 only has a small change, but it's an important and a
forking change affecting consensus rules. We have run testnet4 and are satisfied.
Our dev team is picking up the slack and continues advancing. The Bitmark project is getting code contributions and moving forward with development and the next version, v0.9.9 You can help by taking a look at the code, compiling and playing with it. Do have fun and give us some feedback !