Non-cooperation vs Cooperation

For a miner who has m nodes, the expected time of generating a block with the strategy that these m nodes mining for one address is longer than the expected time of generating a block with the strategy that these m nodes mining independently for m addresses.

Luck vs Power

Mining by luck is an important feature of this project. In mining, the advantage of luck is far greater than the advantage of computing power.

Advantages

  • No monopoly

    The two-phase-proof-of-work mechanism can effectively prevent the formation of mining pools.

  • Lower fork probability

    Since the luck of different nodes vary greatly, the fork probability of the system is significantly reduced.

  • More fair

    The luck cannot be predicted and controlled by miners in advance, the system is more fair than others.

  • High security

    Systemic risk changed from 51% hash power attack to 51% node attack. For attackers, this is more challenging.

Roadmap

  • Q2, 2020

    Testnet launch:

    . Windows/Linux wallet (testnet) release

    . Miner (testnet) release

  • Q4, 2020

    Application developer tools released.

  • Q3, 2020

    Mainnet launch:

    . Windows/Linux wallet (mainnet) release

    . Miner (mainnet) release

    . Explorer (mainnet) release

  • Q1, 2021

    Promote the development of third-party applications.

Miner

  • Windows

    64-BIT Windows GUI executables. learn more.

    md5sum: f6dd76f401883c81dbeade12d6ac3f99

  • Linux

    64-BIT Linux console excutables. learn more.

    md5sum: 18ee24032b89ccbce92648f51f89ca92

  • Explorer

    The Blockchain explorer for the luck mainnet.

QA

  • What is the technical parameters of Luckcoin

    Block size: 2MB.

    Block generation rate: 20 seconds.

    Total supply: 32,650,000.

    Reward strategy: Decrease by 10% every two years

    Initial reward: 1.05Luck/Block (1.00 for miner, 0.05 for developers).

    Pre-mining: 50K for seeds and bounty.

  • What kind of hash function will be used in mining

    So far as we know, argon2d is strong defense against GPU/ASIC, which is the most important goal for cryptocurrencies. Argon2d is a password-hashing function, argon2d uses data-dependent memory access which makes it vulnerable to side-channel attacks. We will choose argon2d as the hash function used in mining.

  • Whether to support smart contracts

    One of the most exciting thing of blockchain is the developments of smart contract. The luckcoin project will support smart contracts.

  • Warnings

    1. Policy risk

    Up to now, governments of various countries have not issued a complete legal system for blockchain projects. In the future, the possibility of countries expressly prohibiting token transactions cannot be completely ruled out.

    2. Investment risk

    The overall overestimation of the digital asset market will lead to increased investment risks. Please carefully decide whether to participate and avoid setting excessively high expected returns.

    3. Technical risks

    At present, open consensus projects are at risk of being attacked by networks, such as 51% attacks. Or there are other technical risks such as quantum attacks.

    4. Other risks

    At present, the token has the characteristics of anonymity and untraceability, and it is easy to become the possibility of criminal acts such as illegal asset transfer.

  • How to start multi-core mining on a single machine

    Considering that a single node is mining at a medium luck value, more power consumption is wasted. For machines with multiple cores and large memory, we recommend that you start multiple nodes, and each node runs the mining program independently, which is equivalent to the way that each independent program occupies one core. The method of starting multiple nodes on a single machine is as follows:

    Linux: Specify different ports and different data directories when starting the process luck --port=[PORT_X] --datadir=[DATADIR_X]. Note that to start multiple processes on a single machine, make sure to specify different ports and different data directories.

    Windows: After decompressing the wallet file, you will see the luck/luck.exe file, which is a binary command-line program whose operation is the same as that of the Linux system and requires you to operate in the command-line mode. For example, you enter luck.exe --datadir=[DATADIR_1] --port=[PORT_1] in a command line terminal, and then open another terminal and enter luck.exe attach [DATADIR_1]/luck.ipc. For specific commands, please refer to https://github.com/luck-coin/luckcoin/blob/master/wiki/luck_linux.md.

  • How to optimize the mining network to increase the winning rate

    Since all mining nodes are now connected to the seed nodes, all messages are transfered through the seed nodes. With the gradual increase of network nodes, the transfer efficiency of seed nodes will continue to decline, which will affect the stable operation of mining nodes, especially for miners with multiple nodes. For miners with multiple nodes, it is recommended to deploy a transit node to connect to the seed nodes. The internal nodes directly interact with the transit node. If these nodes are on an intranet, this will greatly increase the message forwarding speed.

    Start the wallet node directly, and connect directly to the seed nodes by default. If you want the node to connect to your own transit node by default, you need to specify in the command line parameter --bootnodes=lnode://[NODE_1]@[IP_1]:[PORT_1], where NODE_1 is your transit node ID, you need to use admin.nodeInfo to view it on the transit node. IP_1 is the IP of your transit node. If it is on the internal network, it is recommended to use the internal network IP. PORT_1 is the port of the transit node, which is 30009 by default. In the Linux system, you only need to add the command line parameter. Under windows system, you need to start your wallet node in command line terminal mode to specify the --bootnodes parameter. In order to confirm that you are indeed connected to your transit node, you can check the connection through the command admin.peers.