Conduct more challenges/contests

Codechef conducts a challenge every week on Wednesday only, it should conduct more contest
Giving coders frequent chances to improve their rating.

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Or you could practice more and perform better by solving more questions fast and get better rank hence better rating?

Read the ELO-MMR rating system then you will understand what I am trying to say.

@nitinmalviya - even with ELO MMR - when you perform well, rating changes can happen fast.