Blockchain: Technical Specifications
Difficulty Adujstment: custom DGWv3
Mining Difficulty is regulated by a custom Dark Gravity Wave v3, aided by hashrate “Surge Protector” and “Resurrector” functions. The Surge Protector comes into play if there is a string of 9 blocks in-a-row by the same algorithm. The Resurrector activates whenever an algorithm has not contributed blocks for over 160 minutes, something that is extremely unlikely to happen if the difficulty is well matched to hashrate.
Multiple Proof-of-Work Algorithms: 8 mPoW
Eight proof-of-work algorithms are able to contribute blocks to the Bitmark blockchain. The complete list of algorithms is (SCrypt, SHA256d, Yescrypt, Argon2d, X17, Lyra2REv2, Equihash and Cryptonight). This means that miners are able to mine Bitmark not only with Scrypt but with these algos too, several of which are ASIC-resistant, thus democratizing the mininig and putting an end to the selfish-mining situations we have faced in the past.
Coin Emission Modulation: CEM v0.1
Bitmark v0.9.7.0 introduces Coin Emission Modulation, (CEM v0.1) which modulates up to 1/2 the mining subsidy (block reward) by reducing that half proportionately by the ratio of current hashrate to peak hashrate ( as experienced within the last year). The rationale behind this is to reduce coin emission when demand is relatively low (as sensed by reduced hashrate) and only emit the epoch’s full reward when hashrate is at its peak.
Regardless of hashrate, 50% of the epoch’s full block subsidy (1/2 of 15 MARKS or 7.5 MARKS currently) is always given, to reward loyal miners supporting the Bitmark blockchain through low and high demand periods.
8 Proof-of-Work Algorithms (Scrypt, SHA256d, Yescrypt, Argon2d, X17, Lyra2REv2, EquiHash, CryptoNight)
All governed for mining difficulty by custom Dark Gravity Wave v3 “Surge Supressor” triples difficulty if 9 in-a-row from the same algo
“Resurrector” slices difficulty by 1/3 if an algo has not contributed in 160 min.
Coin Emission Modulation (CEM v0.1) Scales up to 50% of block reward by the ratio (current_hr/peak_hr),where the peak hashrate (peak_hr) is highest hashrate in last year and current hashrate (current_hr) is hash rate for algo over last 25 blocks.