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- On June 23, Bitcoin ABC, the full node implementation of the Bitcoin Cash BCH protocol, announced the Grasberg DAA.
- Grasberg is a brand new difficulty adjustment algorithm that is specifically designed for the Bitcoin Cash (BCH) platform.
On June 23, Bitcoin ABC, the full node implementation of the Bitcoin Cash protocol, announced the Grasberg DAA. Grasberg is a brand new difficulty adjustment algorithm that is specifically designed for the Bitcoin Cash (BCH) platform. The mechanism has three aims in particular:
- Firstly to ensure efficient block production.
- Secondly, to make sure miners get close to optimal profitability versus alternative mining strategies.
- And lastly, to ensure the predictability of the coin emission.
However, in a recent article by a readcash user, @jtoomim has made some accusations against Bitcoin Cash and has eventually substantiated with appropriate proofs. He has further subcategorized his arguments into four groups.
The DAA May Harm BCH
The first group of arguments is regarding how Grasberg will hurt Bitcoin Cash. The protocol will lower the rate of mining blocks by almost 12.5% until April 2027. This means that the confirmation time, deposits to the exchanges, hashrate, miner revenues will also reduce.
Grasberg will change the schedule for coin emission. Currently, the coin emission schedule until the next halving is 900 BCH, whereas the Grasberg will change the rate to 800 BCH per day until halving.
Grasberg Could Potentially Be A Dangerous Tool In Politics
The second group of arguments was more about how Grasberg would undermine BCH’s economic principles. As mentioned above, the Grasberg DAA will weaken the issuance rate by 11%. The change in the schedule would imply that BCH underlying economic and monetary policies are subject to changes. Consequently, investors may lose faith in the platform, which may prevent them from buying the cryptocurrency at all. The third section focused on how dangerous a political tool was Grasberg for Bitcoin ABC.
The change in the emission rate seems to be an issue here too because it, in a way, controls the distribution of the BCH. It also aims at the manipulation of the price. It makes the BCH more vulnerable to bribery and corruption.
Code Complexity Makes It Vulnerable
And lastly, he claims that Grasberg is a weaker solution for the DAA issue. According to the writer, Grasberg simulator’s performance is not as per expectations. Furthermore, when aserti3-2d’s and Grasberg’s code, we find that Grasberg’s is much more complicated than it should be. Even Mark Lundeberg, the co-inventor of ASSERT, finds the code unnecessarily complicated when it could have been done more easily. The complexity of the code even increases the vulnerability to exploits. As per him, Bitcoin ABC has put less effort into code performance optimization when compared to other full nodes.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
