What is Lucky7Coin ?
It is a PoW/PoS coin with a completely new algorithm to compute superblocks. Lucky7Coin is in the family of PPCoin/Novacoin with latest available algorithms that fixed various problems in the recent PoW/PoS coins. As compared to the PoW only coins, the proof of stake coins are more resilient to 51% attack. Also it is a long term energy-efficient cryptocurrency.
Lucky7Coin provides superblocks based on the number of lucky “7”s in the previous block hash. The block payout is determined as follows:
– the hash contains six 7s or less: 77 coins per block
– the hash contains seven or eight 7s: 777 coins per block
– the hash contains nine or more 7s: 7777 coins per block
The 777-coins block occurs approximately 3-8% and 7777-coins block occurs approximately 0.5-2%, depends on the blockchain “luck”. So have fun and hope for luck 7s!
Lucky7Coin also provides 5% annual interest on the coins held. The interest is paid about every 2 weeks.
No Premine.Release date: September 16th, 2013
- 60 seconds block target
- 77 coins per block for normal blocks
- 777 or 7777 coins per block for super blocks depends on the number of lucky 7s
- Difficulty retargets every block
- mining payout will be halved every half year (259200 blocks)
- mining coins per block will not be lower than 1 coin per block
- Expected total mined coins will be 99,792,000 coins
- 7 confirmations for transaction
- 77 confirmations for minted blocks
- Total coins (hard limit): 500 millions
- Ports: connection 17777 - RPC 17778