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[ANN] Luck [2POW] A new consensus algorithm to eliminate large mining pools
What's new in luck:
In the Bitcoin network, as the computing power of the mining pool continues to increase, individual nodes can no longer independently participate in mining. Individual miners can only participate in mining by joining the mining pool, which completely deviates from "one-CPU-one-vote" vision. In essence, a mining pool is only equivalent to a node, monopoly mining is very terrible. In addition to unfair incentive, monopoly mining is possible for mining pools with greater computing power to be actively or passively carryed out attacks on the network, resulting in the collapse of the entire system.
We believe that in the Bitcoin network, the formation of the mining pool is inevitable, because in the proof-of-work mechanism, the miner can outsource part of his work to other miners. The cooperative mining between miners is obviously superior to non-cooperative mining. The traditional view is that the formation of the mining pool is due to the ASIC. We believe that this is not the key reason. Many existing projects eventually formed the mining pool after adopting the anti-ASIC strategy. The strategy only limits the growth speed of the computing power of a single node, but the advantages of cooperative mining are still obvious.
In the traditional proof-of-work mechanism, we believe that cooperative mining is inevitable. This is because there are no puzzles can’t be outsourced.
We propose a two-phase-proof-of-work mechanism to solve the problem of cooperative mining. We introduce a concept of "luck" in each round of mining, that is, miners rely on luck to mine. We split each round of mining tasks into two phases of proof of work, the first phase is a lightweight task to complete the calculation of the luck , and then calculate the difficulty of the second phase of the mining task according to the luck, The higher the luck, the smaller the difficulty, the smaller the luck, the greater the difficulty. The second phase is to complete the corresponding work according to the corresponding difficulty. We can prove that under this two-phase-proof-of-work mechanism, the expected output of miners' cooperative mining is lower than that of their non-cooperative mining. This is the key to achieving "one-CPU-one-vote". Whether each node belongs to the same miner, it will choose to mine independently.
In luck network, the systemic risk of the network is no longer a 51% computing power attack, but a 51% node attack, that is, a mine owner has mastered more than 51% of independent nodes in the entire network. Attacks are destructive to the system. But obviously, it is much easier to master 51% of the computing power than to master 51% of the nodes. In addition, for the two-phase-proof-of-work mechanism, if the number of honest nodes in the whole network is enough, for example, more than 1000 nodes, even if a miner has mastered 51% of the nodes, he wants to make a profit through a fork, he needs on average to mine 1000000 blocks to catch up with the main network, which is a huge cost.
We are looking for:
1. If you have experience in social media, we would like to talk with you about spreading the project.
2. Some miners who would like to paticipating in mining.
Feel free to contact us at Sherlock.Holmes.luck@protonmail.com
Some links:
Welcome to the Luck:
Wallet: https://github.com/Luck-wallets/wallets/releases/download/v1.0/Luck-qt.zip
Whitepaper: https://lucknet.club/doc/luck.pdf
News
Mainnet has been opened on Aug 13, 2020. Welcome to join.
In the Bitcoin network, as the computing power of the mining pool continues to increase, individual nodes can no longer independently participate in mining. Individual miners can only participate in mining by joining the mining pool, which completely deviates from "one-CPU-one-vote" vision. In essence, a mining pool is only equivalent to a node, monopoly mining is very terrible. In addition to unfair incentive, monopoly mining is possible for mining pools with greater computing power to be actively or passively carryed out attacks on the network, resulting in the collapse of the entire system.
We believe that in the Bitcoin network, the formation of the mining pool is inevitable, because in the proof-of-work mechanism, the miner can outsource part of his work to other miners. The cooperative mining between miners is obviously superior to non-cooperative mining. The traditional view is that the formation of the mining pool is due to the ASIC. We believe that this is not the key reason. Many existing projects eventually formed the mining pool after adopting the anti-ASIC strategy. The strategy only limits the growth speed of the computing power of a single node, but the advantages of cooperative mining are still obvious.
In the traditional proof-of-work mechanism, we believe that cooperative mining is inevitable. This is because there are no puzzles can’t be outsourced.
We propose a two-phase-proof-of-work mechanism to solve the problem of cooperative mining. We introduce a concept of "luck" in each round of mining, that is, miners rely on luck to mine. We split each round of mining tasks into two phases of proof of work, the first phase is a lightweight task to complete the calculation of the luck , and then calculate the difficulty of the second phase of the mining task according to the luck, The higher the luck, the smaller the difficulty, the smaller the luck, the greater the difficulty. The second phase is to complete the corresponding work according to the corresponding difficulty. We can prove that under this two-phase-proof-of-work mechanism, the expected output of miners' cooperative mining is lower than that of their non-cooperative mining. This is the key to achieving "one-CPU-one-vote". Whether each node belongs to the same miner, it will choose to mine independently.
In luck network, the systemic risk of the network is no longer a 51% computing power attack, but a 51% node attack, that is, a mine owner has mastered more than 51% of independent nodes in the entire network. Attacks are destructive to the system. But obviously, it is much easier to master 51% of the computing power than to master 51% of the nodes. In addition, for the two-phase-proof-of-work mechanism, if the number of honest nodes in the whole network is enough, for example, more than 1000 nodes, even if a miner has mastered 51% of the nodes, he wants to make a profit through a fork, he needs on average to mine 1000000 blocks to catch up with the main network, which is a huge cost.
We are looking for:
1. If you have experience in social media, we would like to talk with you about spreading the project.
2. Some miners who would like to paticipating in mining.
Feel free to contact us at Sherlock.Holmes.luck@protonmail.com
Some links:
Welcome to the Luck:
Wallet: https://github.com/Luck-wallets/wallets/releases/download/v1.0/Luck-qt.zip
Whitepaper: https://lucknet.club/doc/luck.pdf
News
Mainnet has been opened on Aug 13, 2020. Welcome to join.
Assolutamente finta la proposta, di solito quando le cose sono troppo belle per essere vere, si va spessisimo incontro ad una truffa bella e buona....Io penso che se tutti pagando 400 euro poi ne facciamo 120 al giorno, non lavoreremo x un mese...sono 3600 al mese
Da quello che leggo c'e ancora moolta ignoranza riguardo il bitcoin e il mondo delle crypto in generale...Per la massa sembra che è la moneta dei criminali poichè anonima, ok che la usano pure loro, ma non è tutto..Tante sparate a 1000 perche secondo me le crypto spavantano a tanti spesso ai poteri forti
Re: Esistono servizi all'interno dell'industria del turismo che accettano crypto?
Australia lo trovo uno stato interessante, infatti mi piacerebbe andarci in visita, ho visto il sito travelbybit ed è uno dei pochi che usano la crypto x il turismo.buono a sapersi
Avevo sentito pure questo tipo di notizia del eth che rischia di andare a valere 0...Ma x me, l'anno scorso ad esempio ricordo che apriva un ICO ogni 3x2 con token che boooo, tempo qualche mese, puff sparivano e il token che avevi racconto era carta straccia....credo che questo fenomeno non ha aiutato la moneta in questione
Re: Amazon e le false recensioni: ecco quanto pagano e perché sono un “sistema perfe
Non è l'unico sito ad avere ciò pure nei vari siti di hotel e viaggi, la stessa identica cosa, tante persone vengono pagare x parlare bene di quella struttura e di quel tipo di vacanza. Non mi stupisce piu nulla a riguardo
1%????Sarebbe troppo bello un sito del genere, penso che se fosse cosi saremmo tutti milionari e ricchi....Sicuro è un sito ad alto rischio che ti va bene finchè dura
Per me la maggior parte dei cloud mining sono schema ponzi: se ci fai caso se fai ref hai dei vantaggi e guadagni una percentuale su ogni persona iscritta, gia il meccanismo è questo.Il fatto di far condividere su i vari social il portale è un ulteriore prova.
Altre sono delle hype tipo possono durare per periodi limitati, e buona norma se si vuole provare ad iscriversi appena apre che è pagante, con il tempo tendono a sparire e quindi scammare la maggior parte dei cloud mining..Questa ovviamente è la mia opinione
Altre sono delle hype tipo possono durare per periodi limitati, e buona norma se si vuole provare ad iscriversi appena apre che è pagante, con il tempo tendono a sparire e quindi scammare la maggior parte dei cloud mining..Questa ovviamente è la mia opinione