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LK7

Lucky7Coin

Algorithm:

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

Specifications

  • 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
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