Post
Topic
Board Announcements (Altcoins)
Re: [ANN][2POW] Luck - A new consensus algorithm to eliminate large mining pools
by
Sherlock.Holmes
on 14/02/2021, 15:13:24 UTC
What about exchanges? Currently, qTrade supports only Luck v1, so are there any plans to add support for Luck v2 on qTrade? Also, as you can see, and as I told you before, hard forks are harmful. They need very high level of support from existing nodes, in other case it just can cause chain split, just because if node operators won't do anything, they will cause a split, even accidentally, just by lack of information about future version (that happened when upgrading to RandomX). More than that: if users are getting a lot of coins by using Luck v1, then they have no reason to upgrade to Luck v2.

So, the conclusion is: if mainnet is still not released and if there is a way to upgrade the network in a soft-fork way, maybe it should be done that way? And if not, then it is better to think about listing on exchanges sooner than later (unless you want to make it fully decentralized and support some kind of atomic swaps by default in the client, or maybe some kind of other decentralized trading). Discord trading is also an option, but then users should know how to do it correctly, how to use Escrow, etc.

TLDR: We should think about trading ahead of time and show users how they can safely buy/sell Luck v2 if they have other coins.

thank you so much for your suggestions.

we have also considered the issue of exchanges very carefully, but to reduce the loss of investors, we do not recommend that large transactions occur in the early stages of system for instability.

We upgraded to luck v2 also to elimate the  advantages of GPUs , because luck’s core design is to mine by luck, eliminate public pools, and realize "more nodes = more decentralization", which requires more nodes to participate in a low-cost way.

There are many technical details that need to be considered against GPUs, so we are gradually improving the parameters to strive for more nodes to participate in mining in a low-cost, non-cooperative manner within a long time after the mainnet launched.

We will start the second round of testing as soon as possible within these few days, please be patient.