Nice idea. So essentially, a group of miners would keep âpolishingâ an old block, to get people to keep reorging to that one?
I donât think thatâs sustainable.
Letâs assume they have 100% hashpower. After 14s, they find a good enough block. After 14s more, they find another good enough block, that may or may not be better. They canât add these two difficulties together, which is why a chain that actually progresses (and adds block difficulties from N blocks) will always beat one that stands still and just polishes a block.
However, a separate concern is:
- At fork-time, letâs assume 25% drops off (asics).
- Also, the difficulty at fork-time will be too high, and needs to adjust. Before adjustment, it will be less ROI to mine ether, and perhaps better spent somewhere else. So letâs assume that another 25% drops off due to bad ROI.
This leaves us with 50% of the hashpower, trying to mine on a chain where the âtuningâ between hashpower and diifficulty is 4x (2x for the dropoff, 2x because progpow is harder to mine). This leads to an even longer period before this imbalance will settle.
Remember â miners do not compete directly with eachother, so other miners dropping off does not help the ones remaining (in the short term), they compete with the difficulty threshold.
I havenât checked how long time it will take before the difficulty can re-adjust.
One way to solve this problem can be to, at fork block, add a division by 2, so that for that particular block, the difficulty
is divided by two. This would instead lead to a short period where itâs more lucrative to mine ether, and would have the opposite effect (which would be good), and not drive miners away from the chain at the forkblock.
Also, the âperiod of imbalanceâ will adjust faster if the imbalance is in favour of the miners than if the imbalance is in the other direction (faster as in wall-time, not number of blocks)