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BCH gears up for November hard fork to resolve mining difficulty

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BCH gears up for November hard fork to resolve mining difficulty
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Bitcoin ABC, the full node implementation of the Bitcoin (BCH) protocol, has just released an update that will correct problems associated with the cryptocurrency’s Difficulty Adjustment Algorithm (DAA).

 

Even though BCH is the true Bitcoin as intended by the original Satoshi white paper, it is still a minority chain and it comes with challenges. Since it forked last August 1, the BCH network has been experiencing wild fluctuations in hash rate as miners jump from the BTC chain to the BCH chain and vice versa. This issue is caused by the Emergency Difficulty Adjustment (EDA) algorithm, which has been implemented into BCH as a survival mechanism “by adjusting difficulty downward if it has only a small proportion of the hash rate.”

To address this issue, Bitcoin ABC has proposed a hard fork to update the DAA. On Wednesday, Bitcoin ABC published version 0.16.0, which contains the updated DAA based on the D601 algorithm developed by Bitcoin ABC lead developer Amaury Séchet.

This is a change to the Bitcoin Cash consensus rules, but the change does not activate until November 13th. This is a hard fork, so exchanges, wallets, and other software need to upgrade before November 13th,” Bitcoin ABC said in a statement. The development team said they “have been in communication with Bitcoin Cash miners and they are expecting this upgrade.”

The new DAA algorithm has five objectives, including adjusting difficulty hash to hash rate to target a mean block interval of 600 seconds; avoiding sudden changes in difficulty when hash rate is fairly stable; adjusting difficulty rapidly when hash rate changes rapidly; avoiding oscillations from feedback between hash rate and difficulty; and being resilient to attacks such as timestamp manipulation.

More importantly, the code is geared towards on-chain scaling and will further prove that there is no need for any other public blockchains.

Logical choice’

Séchet’s D601 algorithm was one of the three proposals—including Neil Booth’s D578 and Tom Harding’s D622—separately tested by Bitcoin ABC as well as Bitprim and blockchain technology and development outfit nChain. All three algorithms had similar results, including producing mean block times of approximately 600 seconds, which Bitcoin ABC said is “a colossal improvement over the current code.”

Meanwhile, nChain also found “D601 is the logical choice.  D622 is 3.1% (+/- 1.2% at 95% CI) better in most instances, but there are edge cases against it.  For example a large miner can set fluctuations into the timing.

We acknowledge that D601… may not necessarily have the highest performance, but since all 3 had similar performance, D601 was selected because it appears to have the least risk,” according to Bitcoin ABC.

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Compliance Updates

IAGR confirms new Board members

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IAGR confirms new Board members
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The International Association of Gaming Regulators (IAGR) has announced the appointment of four new trustees to its Board, each bringing unique expertise and leadership to strengthen IAGR’s global regulatory efforts:

  • Anders Dorph, Danish Gambling Authority (Europe)
  • Peter Kesitilwe Emolemo, Gambling Authority of Botswana (Africa)
  • Kevin Mullally, General Commercial Gaming Regulatory Authority (Asia/Oceania)
  • Louis Rogacki, New Jersey Division of Gaming Enforcement (North America)

IAGR President Ben Haden said, ‘I’m delighted to welcome our four new trustees to the IAGR Board. Their diverse expertise and leadership across different jurisdictions will bring fresh perspectives to our work, further strengthening our global approach to gaming regulation.

‘I look forward to collaborating with Peter, Louis, Kevin and Anders as we continue to foster innovation and drive forward effective, responsible regulation for the benefit of the global gaming community.

‘We also extend a big thank you to Trude Høgseth Felde and Mabutho Zwane for their dedicated service as they complete their terms on the Board, and I’m pleased to announce that Jason Lane will continue for another term as a Trustee.’

As a leading forum for gaming regulators worldwide, IAGR enables members to meet, share information, discuss legislative developments, exchange views and learn best practices in gaming regulation.

In recent news, IAGR has also confirmed that its 2025 annual conference will be held in Toronto, Canada, from 20 to 23 October 2025, with registrations opening in early 2025.

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Kambi Group plc repurchase of shares during 6 November – 12 November 2024

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Kambi Group plc (“Kambi”) has during the period 6 November to 12 November 2024 (the “Buyback Period”) repurchased a total of 54,000 ordinary B shares (ISIN: MT0000780107) as part of the share buyback programme, within the mandate approved at the Extraordinary General Meeting on 20 June 2024 (the “Programme”).

The objective of the Programme is to achieve added value for Kambi´s shareholders and to give the Board increased flexibility with Kambi´s capital structure by reducing the capital. The Programme is being carried out in accordance with the Maltese Companies Act, EU Market Abuse Regulation No 596/2014 (“MAR”) and other applicable rules.

From the beginning of the Programme, which started on 6 November, until and including 12 November 2024, Kambi has repurchased a total of 54,000 ordinary B shares at a volume-weighted average price of 111.87 SEK per share.

During the Buyback Period, Kambi has repurchased shares as follows:

Date Aggregated daily
volume (number of
ordinary B shares)
Weighted average
share price
per day (SEK)
Total daily
transaction
value (SEK)
6 November 2024 14,000 117.27 1,641,822
7 November 2024 10,000 115.17 1,151,709
8 November 2024 10,000 110.08 1,100,826
11 November 2024 10,000 107.82 1,078,240
12 November 2024 10,000 106.81 1,068,130

All acquisitions have been carried out on Nasdaq First North Growth Market in Stockholm by Carnegie Investment Bank AB on behalf of Kambi. Following the acquisitions and as of 12 November 2024, Kambi’s holding of its own shares amounted to 1,428,678 and the total number of issued shares in Kambi is 31,278,297 ordinary B shares. Under the Programme Kambi is authorised to repurchase a maximum of 3,127,830 ordinary B shares, up to a maximum amount of €12.0 million.

A full breakdown of all transactions carried out during the Buyback Period is attached to this announcement.

Information on the Programme is available on Kambi’s website, kambi.com/investors/share-information/

 

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Latest News

Zillion Games launches Storm Fruits 2

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Zillion Games launches Storm Fruits 2, an exciting sequel to the popular Storm Fruits. With 4,096 ways to win and a Bonus Buy option, players can jump straight into the action for even more chances to win. This refreshed classic fruit theme combines timeless charm with modern thrills for a truly engaging experience.

Accumulated Bonus

During gameplay, bonus symbols accumulate, and when five symbols land, a special feature may trigger, adding the missing symbol to activate the Hold and Ring bonus mode.

Hold and Ring with Jackpots

In this bonus mode, players can win one of three jackpots: Mini, Minor, or Major. Fill all 20 grid positions to unlock the Grand Jackpot.

Free Spins with Random Walking Wilds 

Wild symbols can appear in varying amounts on each new spin, moving to random positions and potentially leading to big wins. In Free Spins mode, landing three scatter symbols will trigger additional free spins for even more chances to win!

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