Worldcoin has been released to the world for about 3 months. We designed WorldCoin to be fast enough for day to day transactions but still very secure. Full confirmations occur in about 60 seconds or less. However, it has come to our attention that there is an issue with orphans, and we would like to address this.
Today the v6.4.1 patch has been released to address this issue. Block times, reward, and confirmations have been modified.
NOTE: the amount of WDC created per day has stayed exactly the same.
1. Block time changed from 15 to 30 seconds.
2. Block reward changed from 32 to 64 coins (to maintain the same number of coins/hour).
3. Confirmation amount changed from 4 to 2 (to maintain current 1 minute confirmations).
There are a few other changes as well:
1. The current coin reward will not halve at a certain block any longer. Instead, the reward will gradually decrease 1% every week.
2. If the reward reaches 1 WDC, it will not decrease any longer, but will stay at 1 WDC/block for the life of the coin.
3. The difficulty will update a maximum of 10% either direction every 120 blocks or ~1 hr (vs the current 400% per ~8 hours).
SpecificationsBlock Time:
30 Sec.Confirmations:
2Difficulty Retarget:
About 1 hour (120 blocks)Block Reward:
64 coins, reduced 1% every week (20,160 blocks)Coins:
265,420,800A year after the patch, we estimate the reward to be be around 38 WDC/block, or about a 41% decrease during that time period. After 8 years, it is estimated that the reward will be at 1 WDC/block.
This patch will take effect around August 30th, or at block 600,000. All users should update their wallets and daemons to the new version by block 600,000-older versions won't work after this point.
FilesDownload the WorldCoin client (6.4.1) and start using it today.
If you have an older version you need to update it as soon as possible.
Windows Client:http://worldcoin.unocs.com/sites/default/files/Worldcoin-windows-6.4.1.zipGet the official client from an alternate source:
coming soon...
Linux Ubuntu (Mint) Client:http://worldcoin.unocs.com/sites/default/files/Worldcoin-linux-6.4.1.tar.gzOr, compile it yourself: "How to compile Linux client" instructions:
https://bitcointalksearch.org/topic/m.2229730Mac OSX Client:http://worldcoin.unocs.com/sites/default/files/Worldcoin-OSX-6.4.1.zipSource Code:https://github.com/worldcoinproject/Worldcoin