Consensus

Consensus Mechanism

Change Chain employs a modified Proof-of-Work consensus algorithm optimized for high throughput and energy efficiency. This consensus mechanism ensures that all transactions are securely validated and recorded on the blockchain.

Mining Algorithm

Memory-Hard Hashing Algorithm (Equihash-CX):
- Rationale: To prevent ASIC domination and promote decentralization, Change Chain uses Equihash-CX, a memory-hard algorithm that requires significant RAM resources, making it more suitable for GPU mining.
- Parameters:
  - n: 144 (memory parameter)
  - k: 5 (time parameter)
  - These parameters balance memory usage and computational effort, ensuring a fair mining environment.

Block Structure

Block Header:
- Version: Indicates the version of the block protocol.
- Previous Block Hash: Links to the preceding block, ensuring chain integrity.
- Merkle Root: Hash of all transactions in the block, enabling efficient verification.
- Timestamp: Unix epoch time when the block was created.
- Difficulty Target: Current network difficulty.
- Nonce: Value adjusted by miners to find a valid hash.
Block Body:
- Transactions: List of all transactions included in the block.
- Miner's Reward Transaction (Coinbase): First transaction that awards the miner their block reward and fees.

Block Time: Targets a sub 1-second block time

Difficulty Adjustment

Dynamic Difficulty Adjustment Algorithm (DAA):

Adjusts every block to maintain an average block time of less than 1 second.
Uses a Weighted Harmonic Mean (WHM) of recent block times to smooth out fluctuations.
Prevents sudden spikes or drops in difficulty, ensuring network stability.

$\frac{n+1}{n}=\frac{D}{T_{actual}}\times\frac{T_{target}}{D}$

Where:

Dn+1D_{n+1}Dn+1 = Next difficulty
DnD_nDn = Current difficulty
TtargetT_{target}Ttarget = Target block time
TactualT_{actual}Tactual = Actual time taken to mine the last block

$\frac{n+1}{n}=\frac{D}{T_{actual}}\times\frac{T_{target}}{D}$

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Last updated 1 month ago

Mining Algorithm

Memory-Hard Hashing Algorithm (Equihash-CX):

Rationale: To prevent ASIC domination and promote decentralization, Change Chain uses Equihash-CX, a memory-hard algorithm that requires significant RAM resources, making it more suitable for GPU mining.
Parameters:
- n: 144 (memory parameter)
- k: 5 (time parameter)
- These parameters balance memory usage and computational effort, ensuring a fair mining environment.

Block Structure

Block Header:

Version: Indicates the version of the block protocol.
Previous Block Hash: Links to the preceding block, ensuring chain integrity.
Merkle Root: Hash of all transactions in the block, enabling efficient verification.
Timestamp: Unix epoch time when the block was created.
Difficulty Target: Current network difficulty.
Nonce: Value adjusted by miners to find a valid hash.

Block Body:

Transactions: List of all transactions included in the block.
Miner's Reward Transaction (Coinbase): First transaction that awards the miner their block reward and fees.

Block Time: Targets a sub 1-second block time

Difficulty Adjustment

Dynamic Difficulty Adjustment Algorithm (DAA):

Adjusts every block to maintain an average block time of less than 1 second.

Uses a Weighted Harmonic Mean (WHM) of recent block times to smooth out fluctuations.

Prevents sudden spikes or drops in difficulty, ensuring network stability.

\frac{n+1}{n}=\frac{D}{T_{actual}}\times\frac{T_{target}}{D}

Where:

Dn+1D_{n+1}Dn+1 = Next difficulty

DnD_nDn = Current difficulty

TtargetT_{target}Ttarget = Target block time

TactualT_{actual}Tactual = Actual time taken to mine the last block

\frac{n+1}{n}=\frac{D}{T_{actual}}\times\frac{T_{target}}{D}