[ANN][2POW] Luck - A new consensus algorithm to eliminate large mining pools

[wolfwolf]

What is the system of coin distribution? Mining gives only a number of "coins". No transaction history at all. Seems like adding a number in mining wallet balance.

You can view all transaction history on the block explorer http://47.74.55.77/explorer/index.html.

[Slkp]

What is the system of coin distribution? Mining gives only a number of "coins". No transaction history at all. Seems like adding a number in mining wallet balance.

You can view all transaction history on the block explorer http://47.74.55.77/explorer/index.html.

It doesn't work properly.You can check it.

[vjudeu]

It does work the same way as in Ethereum. It is "account-based", not "output-based". In Bitcoin, when you have two different outputs assigned to the same address, you have two separate coins and you can use them in two different transactions. In Ethereum (and Luck) you have just one address and one coin in such case. All outputs going to the same address are automatically merged, that is the way this coin works. And if you want to get transaction history, you have to look at previous blocks and get previous transactions with previous amounts. But all of them contains already spent coins, so they are not displayed on this page.

But when you click on sender or receiver address instead of transaction id, you can also view all such transactions.

[Sherlock.Holmes]

Hello everyone
We have opened the luck core at https://github.com/luck-coin/go-luck, the core logic of 2POW can be found in consensus->tppow->tppow.go, and friends who are interested are welcome to suggest optimization opinions on 2POW, thank you.

In addition, we analyzed the latest block data. The luck of the latest blocks fluctuates around 0xbc00000, and luck is uniformly distributed in [0x0, 0xbebc200], we estimate that the number of possible independent nodes is between 200-400 (currently we are unable to give an accurate prediction model). As the number of independent nodes increases, the influence of luck on the probability of winning will also greatly increase. Increasing in luck can only be achieved by deploying more nodes, which is obviously more fair.

[Sherlock.Holmes]

The development of light windows wallet and android wallet is underway, and will be open soon

[jslv587]

Will there be a separate mining software

[Sherlock.Holmes]

Anybody who owns 0x104be85b... can you share how many machines have you deployed? Hundreds of new connections have been detected on the seed nodes. If necessary, you can deploy some seed nodes separately.

[cryptobtcnut]

Sherlock.Holmes: what is the difference between nodekey file and keys in keystore folder?

Also can we mine using the same public key on multiple machines?

[Sherlock.Holmes]

Sherlock.Holmes: what is the difference between nodekey file and keys in keystore folder?

Also can we mine using the same public key on multiple machines?

nodekey is the node ID, which represents a locally running instance.

keystore is your wallet file and must be stored properly, preferably offline.

The same address can be set on different machines, which does not affect the mining probability. We have previously imagined setting different addresses on different machines, but in a decentralized environment, this setting is meaningless.

[Sherlock.Holmes]

Will there be a separate mining software

sorry, we have no plans to develop new mining software in the near future. If necessary, we will consider it in the future.

[vjudeu]

Increasing in luck can only be achieved by deploying more nodes, which is obviously more fair.

Why? What about one client trying to calculate higher and higher luck all the time? How you can distinguish one node trying different luck all the time from many nodes trying many luck values?

[hextobig]

Increasing in luck can only be achieved by deploying more nodes, which is obviously more fair.

Why? What about one client trying to calculate higher and higher luck all the time? How you can distinguish one node trying different luck all the time from many nodes trying many luck values?

Because calculating luck requires computing power, computing luck is also expensive, a single node cannot try many luck values.

[vjudeu]

Because calculating luck requires computing power, computing luck is also expensive, a single node cannot try many luck values.

Saying that it "requires computing power" is the same as saying that calculating difficulty "requires computing power". Pools can just create some math formula like "totalEffort=constA*luckValue+constB*difficultyValue". Maybe for luck this "constA" will be higher than "constB" for difficulty, and also difficulty depends on luck, but after all everything comes to overall effort of mining a block that can be somehow calculated. And mined block that does not meet network difficulty, but meets 10 or 100 times easier difficulty is called "share".

To mine such "shares" there is no need to stop typical, honest mining. These shares could be merge-mined and sent somehow between pool nodes. And even if mining reward cannot be distributed from coinbase, it could as well be shared in a normal transaction. There is nothing that can stop miners from mining both luck and some "luck-based sidechain with lower difficulty" containing shares for some pool. And finally some of these shares will be below network target and will be treated as any normal block, paying everyone its reward.

In this way instead of one person getting one coin per day, it could be 100 people getting 0.01 coin (or maybe 0.0099 assuming pool fees around 1%) every ~15 minutes, if they have similar computing power. And even if there are more and less powerful miners, such rewards could be set accordingly to the number of shares. Because now luck is also based on "winner-takes-all" model instead of "everyone-gets-something-every-block" model, so there still will be some pressure to be "the winner" as often as possible. In other coins, pools are such winners when there are many miners and winning a block is more and more difficult and takes more and more time.

Of course, in a long time perspective it is more profitable to solo mine, because of mining pool fees, but such fees is nothing more than paying for getting something faster. And as there always will be some people in hurry, there always will be some need to pay someone for getting some coins faster than usual. And that is why some pools will be created sooner or later.

[Sherlock.Holmes]

@somebody who owns 0x104be85bfd4b0151d61a647bfb1d24d9ee57a19e2683cd7fb0.

We have detected that you deployed a large number of machines.
Our project is still in the early stage and it is not recommended to engage in an arms race.
If you see this message, you can stop some machines appropriately. thank you very much.

If you have other comments, you can leave a message here, or send emails to us.

[miner2251]

We have detected that you deployed a large number of machines.

Maybe it is not "a large number of machines", but something like "luck boost" in similar way that "ASIC boost" works (no, I do not have access to this address, I am just guessing). And also it is possible that calculating some luck once and then checking all blocks matching some difficulty is not the most efficient way of mining. Maybe it is tweaked somehow to mine more luck and check less blocks in the second stage. Playing with some parameters may give similar results as in POW, it is just a matter of balancing these two phases to get the best results.

Also, this is not the only one coin using argon2d algorithm. Maybe some merged-mining is also actively used here.

[Sherlock.Holmes]

We have detected that you deployed a large number of machines.

Maybe it is not "a large number of machines", but something like "luck boost" in similar way that "ASIC boost" works (no, I do not have access to this address, I am just guessing). And also it is possible that calculating some luck once and then checking all blocks matching some difficulty is not the most efficient way of mining. Maybe it is tweaked somehow to mine more luck and check less blocks in the second stage. Playing with some parameters may give similar results as in POW, it is just a matter of balancing these two phases to get the best results.

Also, this is not the only one coin using argon2d algorithm. Maybe some merged-mining is also actively used here.

At present, it is due to the large number of machines. The number of connections has been significantly reduced, and the block generation speed of 104 has also been significantly reduced.

"luck boost" maybe impossible.

[sgaragagghu]

Hi Sherlock,
I'm trying to build from source but there isn't any guide.
I already have Go installed.
I've tried go build but it doesn't work.
Should it just be go build?
Thanks!

[jslv587]

This may be my friend, he has 200 units

@somebody who owns 0x104be85bfd4b0151d61a647bfb1d24d9ee57a19e2683cd7fb0.

We have detected that you deployed a large number of machines.
Our project is still in the early stage and it is not recommended to engage in an arms race.
If you see this message, you can stop some machines appropriately. thank you very much.

If you have other comments, you can leave a message here, or send emails to us.

[AllForOneA41]

Hello Sherlock do You have any plans for exchanges many ppl asking about it also at discord many successful trades.

[Sherlock.Holmes]

Hi Sherlock,
I'm trying to build from source but there isn't any guide.
I already have Go installed.
I've tried go build but it doesn't work.
Should it just be go build?
Thanks!

We have now opened the core algorithm module. The entire project is being sorted and archived, and the project building modules will be opened after finishing all sorting, it is estimated that in these two weeks.
In addition, we will also open the android wallet in these two weeks.
Please be patient, thank you.