Version 2016.03.01.0

THIS VERSION CREATES A HARDFORK AT BLOCK 225000

Change in codebase– This release moves us from the version 0.8.7.5 Litecoin codebase to the 4.0.3 DigiByte codebase. Early discussions about moving to a multi-algo codebase left us with the decision of Myriadcoin or DigiByte as our foundational code. After some great discussions with Jared Tate, founder of DigiByte, we decided to use their codebase. Additionally, DigiByte released their version 4 DigiSpeed code during early development, and we immediately made the change over from version 3. The codebase is solid, secure, and well tested. It will make a great foundation for Auroracoin going forward.

61 second block time– When discussing how we were going to structure block times in a multi-algo implementation, we decided to do something a little different. With the addition of the multi-algo block time change, we have decided to make the timespan between blocks 61 seconds. The number 61 is in reference to the year that the centralized banks were founded in Iceland. It is a constant reminder of why AUR is so important for the Icelandic people.

Multi-algo specifics– Our wallet implementation builds on the the Digibyte codebase. As such, we decided to use the same algorithms that have proven successful for DGB- SHA256, Qubit, Groestl, Skein, and Scrypt. This allows not only for existing SHA256 and Scrypt mining ASICs to mine AUR, but also GPUs and CPUs with energy efficient algorithms that help decentralize our mining efforts. Each algorithm still paces blocks at 5 minute 5 second intervals. However, with all 5 algorithms mining collectively, the block spacing will be 61 seconds. This change should eliminate blockchain stalls we have seen in the past, because if one algorithm takes longer to mine the next block, another algorithm can step in and keep the chain moving. Not only does this contribute to faster block confirmation times, from 30 minutes to 6 minutes 6 seconds, but it also adds the needed blockchain stability and security that we’re striving to achieve. Additionally, it mitigates multipool activity on the chain, as no single algorithm can control lower difficulty mining.

Block rewards– Multi-algo dramatically changes mining dynamics. While there is a 5 time increase in blocks per day, we didn’t want to see a dramatic increase in coins created per day. Previously, the block reward was 12.5AUR per 5 minutes. To stay true to the coins created per day, we reduced the block reward of the multi-algo blocks to 2.5AUR every 61 seconds. This equates to 12.5AUR every 5 minutes and 5 seconds. This is of course a 1.66% decrease in block rewards due to the 5 second increase in time. However, with mining luck and the increase in mining longevity, we think that the 1.66% decrease will be negligible over time.

Halving schedule– Due to the 5 time increase in blocks, we needed to adjust the halving periods to compensate. The new halving block period is every 2.1million blocks, a 5 time increase from the previous 420k blocks.

Consecutive algorithm block limit– In testing, we identified a few instances where miners could essentially manipulate lower-difficulty algorithms with no active miners to mine 2-3 times the number of blocks that they would normally be able to mine. It’s not a bug in the code, but rather an exploitable mechanic that could be abused by smart miners. In order to prevent this exploit, we have implemented a consecutive algorithm block limit. This system essentially counts the number of blocks that a single algorithm has mined. If the algorithm has mined the previous 5 blocks, it cannot submit a block to the chain before another algorithm has submitted a block. This is an effective mechanic that not only makes mining fair for all, but also deters the abusive profitability scripts used by multipools and opportunity miners.

New versioning standard– Going forward, client versions will be denoted in a date/release format of YEAR.MONTH.RELEASE.PATCH. For instance, this release will be 2016.03.01.0. This helps facilitate version discussion and identification in a logical and streamlined approach.