Wallet blocked again on a block

ccminer

@crutsy yeah also like this is a sort of mandatory update! Maybe just a bit brutal ;)

daWallet

When only the solo miners and some smaller pools are left mining, the blocktime can increase to several hours. I think this happened as a side effect.

We are investigating what actually crashed that many wallets. I think we are on the right track but if we knew it without doubt, it would be solved yesterday.
The Burst network and protocol are only two years old. There will be more friction on the way. If it is too much heat for some of you - I can understand it.
Please consider that high growth rate and gains are always coupled with higher risks. There are other ways to invest your hard earned money and get a interest rate of 3% a year in a less risky and volatile project.
It is also unfair to compare Bitcoin with Burstcoin. Bitcoin is 100 times larger in Market Cap and four times older - and they had and have their famous bugs regularly, too.

No money was lost - maybe some pools made some wrong pay outs and some solo miners had their lucky day, but nothing noticeable.

Someone said: the longer the chain, the higher the value of the network. I think this is very true. There is a long and sometimes bumpy road in front of us.

ccminer

@daWallet
Thank you for your update on the issue.

I didn't understand your first sentence

"When only the solo miners and some smaller pools are left mining, the blocktime can increase to several hours. I think this happened as a side effect."

If you can could you kindly explain?

Could you also inform us on what you think is the reason behind it.. "I think we are on the right track"
Maybe some of us could help as well if we have more details.

thank you again!

daWallet

@ccminer If the big pools go down at once, the left mining power is only a fraction. The time of a block determined by how many plots are sending their results of an equation. If e.g. only 30% of the network sends a result (the deadline) the best deadline can be two hours long.
After this long block is solved the difficulty equilibrates to the new network situation and the next block will be solved (probably) closer to the targeted 4 minutes. The difficulty of mining always adjusts some blocks later..

This explanation is simplified, but that is how most of the crypto currencies work.

ccminer

@daWallet

I know how the difficulty is retargeted in the cryptocurrency mining.
Do you think is this that happened today?