21

If Monero usage increases so will orphan blocks and chain-reorganization. Bitcoin forks with much shorter average block times (compared to the 10/min per block BTC average) have far more many orphans. CryptoNote based coins like Monero are more susceptible to the effect of chain reorganizations than Bitcoin forks so it was decided that 1 minute blocks were ...


13

Yes an an exponential distribution can be used but it will require some assumptions: No propagation delays of block discoveries Constant difficulty Accurate time stamps With those assumptions and an exponential distribution the standard deviation equal to the expected block time (expectancy value) which is currently 120 seconds (2 minute blocks). ...


13

The risk is that this transaction will not be included in a block, ever, and thus never pays the merchant. The risk are the same as with Bitcoin, since Monero uses the same type of PoW system, so you may want to read up on doing this with Bitcoin. One possibility for attack is that the transaction being sent to the merchant has an input which will be spent ...


13

Current chain use is low, and many blocks are empty. Every empty block adds close to 300 bytes, and outputs from the block reward. After some discussion, it was agreed that the block time could be increased from 1 to 2 minutes in order to diminish the impact of those, as well as decrease the number of orphans. It is relevant to note that the 1 minute block ...


10

I don't think so, and I'm not sure it would work out long term for ethereum either, although they plan to switch to proof-of-stake and implement sharding, both of which would possibly help. Monero actually used to have a 60 second block time, and then in March of 2016 switched to a 120 second target time. There are several issues with a very fast block ...


9

If orphan levels increased or were above some tolerable threshold, an increase in block time would help alleviate the situation. This answer to a question about unlocked balances explains Monero's greater sensitivity to reorganizations.


9

Actually, instant (well, speed of information) payment channels are possible with monero, even now (no protocol changes to monero necessary). First we will just start with one way payment channels. The merchant and buyer set up a some sort of multisig wallet. They mutually sign a transaction that sends the its contents back to the sender. The signature is ...


8

Right now, it's basically a 1:1 relationship in the long term for a very basic reason. According to moneroblocks.info, there have been roughly 8100 transactions in the past week. Since there are 10080 minutes in a week, that means there have been approximately 8 transactions every 10 minutes. I'm going to go out on a limb and say this have been a higher-...


8

The change occured at hard fork 2, on block 1009827 (see the table near the top of src/cryptonote_core/blockchain.cpp). This was in march 2016.


8

What would be good reasons to further increase block time in the future? A couple good reasons would include if pools were experiencing a lot of orphaned blocks or if blocks were routinely empty. An orphan block is when a pool mines a block, but then realizes another pool beat them to that block and it gets ignored by the other pools. This usually only ...


7

Pretty much anything could be done. I'd been thinking about a block tree, where you'd have geographically [1] close miners mining at a low difficulty and low block time, and making their own quick chain. Every, say, 10 blocks, they'd hash their blocks (or 10 blocks in the recent past, to guard against reorgs) and a higher level set of miners would have a ...


7

The change was introduced with the Monero v0.9.0 "Hydrogen Helix" release on the 1st of Jan, 2016 however it did not take effect until the 20th of March, 2016 at block 1009827 as explained by user3603. More details about the original Hydrogen Helix release can be found here


4

One Monero block is (1 << 21) / 16 [Source (Lines 40, 43 and 90): https://github.com/monero-project/monero/blob/master/src/crypto/slow-hash.c#L40 ]. The Monero block reward = (M - A) * 2-20 * 10-12, where A = current circulation. Source: https://monero.stackexchange.com/a/4254/2828 . With Monero the difficulty is dynamically adjusted so that Blocks ...


3

The "last month" stats from http://moneroblocks.info/stats shows 0.67 transactions per block on average, which equates to about 0.3 transactions a minute, since Monero has had two minute blocks for a few months now. Based on the historical Bitcoin transaction rate posted by lethos3, Bitcoin averaged an equivalent rate of 3 transactions per (10 minute) block ...


1

Answering your actual questions: How many hashes are needed to solve a Monero block of difficulty 1? ... Or, more simply, the average number of hashes (total, across the whole network) required to solve a Monero block of difficulty 1? The answer is 1. Any valid ("valid" being the correct hashing algorithm), hash will solve for a difficulty of 1. This ...


1

According to Minergate: Reward = ((hashrate * block_reward) / current_difficulty) * (1 - pool_fee) * 3600 ...where does the 3600 come from? Does anyone know what this formula means or how to use it? Surely, the reward formula would look more like this : Block Reward / Difficulty = Value of 1 share Therefore, Miner Reward = ((Block Reward / Difficulty) ...


1

I think you would need a larger sampling than 50 blocks to see if that pattern is true. There are many patterns that I've "seen" in Monero, but they've just turned out to be anomalies.


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