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Re: [ANN][2POW] Luck - A new algorithm to eliminate large mining pools ; Launch NOW
[ANN][2POW] Luck - A new algorithm to eliminate large mining pools ; Launch NOW
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 cant 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-source/wallets/releases/download/v1.0/Luck-qt.zip
Whitepaper: https://lucknet.club/doc/luck.pdf
Some other media links:
Discord: https://discord.gg/TN6XhcD
Telegram: https://t.me/luck_cryptocurrency
News
Mainnet has been opened on Aug 27, 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 cant 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-source/wallets/releases/download/v1.0/Luck-qt.zip
Whitepaper: https://lucknet.club/doc/luck.pdf
Some other media links:
Discord: https://discord.gg/TN6XhcD
Telegram: https://t.me/luck_cryptocurrency
News
Mainnet has been opened on Aug 27, 2020. Welcome to join.
Re: [ICO] Cuprum Token - digital forward contract for highest quality copper
I am waiting for the more updates in airdrop and bounty I hope Cuprum can able to shows us their actions, Hoping to see the projected growth.
Re: [ICO] Cuprum Token - digital forward contract for highest quality copper
As what I see this project has not been advertising their project to the public, I think that showing to the public about their works to attract more investors into the project. Knowing that this is a new project it is the best way to increase the popularity in the modern business world.
Re: [ICO] Cuprum Token - digital forward contract for highest quality copper
My understanding about Cuprum is that this can be able to exchange the token to a copper on the Cuprum platform. They seem to be confident in their developments judging by their roadmap. Is it possible that the price of the token will be more worth than the copper?
for #bitcoin and #blockchain hustlers
Kelley - Bitcoin Hustle feat. Tim Draper
https://www.dropbox.com/sh/i802aric6ozv0e4/AADXCj1PM1bFzYSF-75NLR_oa?dl=0&preview=Bitcoin_Hustle_V1D3_DRAPERVOX-2.mp3
Kelley - Bitcoin Hustle feat. Tim Draper
https://www.dropbox.com/sh/i802aric6ozv0e4/AADXCj1PM1bFzYSF-75NLR_oa?dl=0&preview=Bitcoin_Hustle_V1D3_DRAPERVOX-2.mp3
worth to watch I enjoyed it, these types of market advertising is great and cool. By the way this is my first time hearing a song about bitcoin.
Re: Do you think Bitcoin will become the first world currency for buy and sell ?
It is possible bitcoin has been known lately with its new type of economy and how it works. Bitcoin is available for investment, for media transactions, shopping online that accepts bitcoin there are already sites that accepts bitcoin as their currency sooner or later I hope other countries and its government will accept the btc.
Bitcoin will be the pioneer of digital currency bitcoin created its history to be known by globally, sooner in the future there will be more platform form digital currency will arise and that is because of bitcoin.
Because it is new technology that why it click to many people they were amaze on how this technology works digital currency many investors try using bitcoin and they earn big profits thats why many people are now into bitcoin.
The use of bitcoin depends on the individual decision they can use it to buy things that they want and need cuz there are countries that legalize bitcoin and accept it as the future digital currency.
Re: Philippines as the first country in asia to regulate and accept cryptocurrency..
wow, 
what a great news indeed. I hope other countries in Asia will follow Philippines and accept cryptocurrency. I am really proud I am sure the bitcoin will rise up just like the philippines that is becoming richer in the business.
what a great news indeed. I hope other countries in Asia will follow Philippines and accept cryptocurrency. I am really proud I am sure the bitcoin will rise up just like the philippines that is becoming richer in the business.There are a lot of people who got rich because of the cryptocurrency. If I were you I don't really mind who is the most richest of them all my focus will be learning more about cryptocurrency be knowledgeable for you to succeed on your goals.