Comments (1)
This is a really good discussion, thank you. This sort of oscillation is referred to as "global synchronization" where states of congestion across an information system use naive pruning mechanics such that all participants in a resource-constrained system respond to the stimulus of increased competition for a resource at about the same time by drawing down their consumption of it, and likewise they increase their consumption when the resource is less constrained. In this case "block solves" are the consumed resource and difficulty represents the availability of the resource for modelling purposes.
Separately, I don't know if you are aware, but Mochimo uses a mid-block difficulty adjustment algorithm. I think you mentioned that no systems are using one, but ours is working extremely well, and we mint exactly 256 reward blocks per day as designed, and with very little drift.
from difficulty-algorithms.
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from difficulty-algorithms.