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

[AllForOneA41]

well i saw there is premine about 300k luck, when the coin will be planned to use or will we have any bounty to promote the coin on this forum, because i dont think that people know enough about this coin, signature campaign is the best for now to spread about the luck coin to bitcointalk community like how idena coin did, i hope there is planned bounty in short time, ive seen the premine only has been used about 600 luck for the guys who contribute seeds.

I get some coins for articles also
50 coins was spent for http://luckclock.xyz/    that was made by one of community member on Discord

[1714929744]

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[1714929744]

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[1714929744]

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[MonsterV]

well i saw there is premine about 300k luck, when the coin will be planned to use or will we have any bounty to promote the coin on this forum, because i dont think that people know enough about this coin, signature campaign is the best for now to spread about the luck coin to bitcointalk community like how idena coin did, i hope there is planned bounty in short time, ive seen the premine only has been used about 600 luck for the guys who contribute seeds.

I get some coins for articles also
50 coins was spent for http://luckclock.xyz/    that was made by one of community member on Discord

well i dont know about this, dev is not really transparent where and when they are spending the premine, the premine is a key of project funding, if they distribute it without telling, i think investor will not look back on this project because what, they are using premine without community know and it could be that in the future they will sell and reduce the lucky price if it is listed on the exchange,I hope they can be more transparent with premine and notify every transaction that is used in the premine.

[AllForOneA41]

well i saw there is premine about 300k luck, when the coin will be planned to use or will we have any bounty to promote the coin on this forum, because i dont think that people know enough about this coin, signature campaign is the best for now to spread about the luck coin to bitcointalk community like how idena coin did, i hope there is planned bounty in short time, ive seen the premine only has been used about 600 luck for the guys who contribute seeds.

I get some coins for articles also
50 coins was spent for http://luckclock.xyz/    that was made by one of community member on Discord

well i dont know about this, dev is not really transparent where and when they are spending the premine, the premine is a key of project funding, if they distribute it without telling, i think investor will not look back on this project because what, they are using premine without community know and it could be that in the future they will sell and reduce the lucky price if it is listed on the exchange,I hope they can be more transparent with premine and notify every transaction that is used in the premine.

As for now I only know that Luck coins are given to community for making their work for Luck

[MonsterV]

As for now I only know that Luck coins are given to community for making their work for Luck

the right word is for who is contribution to Luck project, i hope there is bounty on this forum in short time because this good project should get attentions from all member from this forum, signature bounty are very wonderfull right now if sherlock are wish to have any bounty in this groups.

[Sherlock.Holmes]

well i saw there is premine about 300k luck, when the coin will be planned to use or will we have any bounty to promote the coin on this forum, because i dont think that people know enough about this coin, signature campaign is the best for now to spread about the luck coin to bitcointalk community like how idena coin did, i hope there is planned bounty in short time, ive seen the premine only has been used about 600 luck for the guys who contribute seeds.

I am very sorry for the trouble to everyone, we will public all the sends related to premine. How to use premine in the future, we will also seek your opinions.

[vjudeu]

It is probably possible to create hidden, P2P-based mining pool on this coin.

At first, all nodes are solo mining as it is today, using official client. Then, people start noticing that they have to wait more and more time to receive their rewards. The overall difficulty to mine a block is getting harder, because there are more and more people mining this coin.

To solve this problem and receive something more frequently, people start cooperating with each other to produce something together and share their reward. To do this in a P2P-based, fully decentralized way, people start producing shares. A share is just a valid block with easier difficulty. So anyone can just modify original client a bit and start producing shares. The algorithm to achieve this is quite simple: if block hash is below share-difficulty, it is a valid share and can be broadcasted to pool nodes. If it also meets network difficulty, it can be broadcasted to the whole network.

Because some people are probably going to destroy all mining pools they can find, everything should be done in secret. So, to start with, people are sending shares only to explicitly listed nodes and to nobody else. To prevent detecting it by some adversary node sending shares to mining pool, the acceptance of the share is not announced to anyone (even "trusted pool nodes") explicitly. When pool node receives some block meeting share-difficulty and not meeting network-difficulty, it should respond with "block invalid" message if asked by anyone, but it should notice that the share is valid and prepare some transaction paying some coins to the share-creator.

After getting some shares from some nodes, each pool node independently broadcasts transaction paying nodes their rewards. It is a normal transaction, so there is nothing that adversaries can do to prove that it is a payment from mining pool. Also, as a normal transaction, other nodes can receive and broadcast it, so tracing the first node that produced this transaction seems to be impossible. Any inputs can be used to produce this transaction and also such transactions can be coinjoined, so finding the creator in a M inputs to N outputs transaction when M and N are greater than two is not possible with 100% accuracy.

There is nothing to lose using this method. Every pool node is also solo mining, shares are produced in the same way as normal blocks, except they have easier difficulty. To prevent spam, every node should decide how many times easier this difficulty should be. It is also possible to do some performance testing and just collect blocks locally to determine how many times easier this share-difficulty should be. Because everything that is needed to produce the next block is the hash of the previous one, it is also possible to run one instance of the original client and attach to it from many mining clients, getting only previous block header (and maybe also pending transactions or some stuff similar to getblocktemplate in Bitcoin). It is probably also possible to create some stratum-like protocol and produce only data needed by block headers, shared with every connected node.

However, the simplest possible way is just sending blocks. It is compatible with all clients. So, the node is solo mining and sending some shares to some trusted nodes. At the beginning, it is possible to communicate with some other miners owned by the same miner. Later it is possible to trust someone for a while and send some shares to it. If after some time the node receives some coins, it is marking such node as trustworthy and still sending shares to it. If not, it is marking it as a solo-only node and choose another node. In this way it is possible to find modified clients in a P2P-way instead of some centralized way.

[MonsterV]

well i saw there is premine about 300k luck, when the coin will be planned to use or will we have any bounty to promote the coin on this forum, because i dont think that people know enough about this coin, signature campaign is the best for now to spread about the luck coin to bitcointalk community like how idena coin did, i hope there is planned bounty in short time, ive seen the premine only has been used about 600 luck for the guys who contribute seeds.

I am very sorry for the trouble to everyone, we will public all the sends related to premine. How to use premine in the future, we will also seek your opinions.

that's would be great sherlock, you need to keep transparent when and where the premine are spend because if you give someone free coin without community know about it, this project will lose their popularity because they are buying mining very hardly, and you are giving free coin and spend without any notifications, could you post here how much are premine has been used and what is the purposed? im only know the 600 LUCK that's send to seed providers, is there any other?

[hextobig]

It is probably possible to create hidden, P2P-based mining pool on this coin.

At first, all nodes are solo mining as it is today, using official client. Then, people start noticing that they have to wait more and more time to receive their rewards. The overall difficulty to mine a block is getting harder, because there are more and more people mining this coin.

To solve this problem and receive something more frequently, people start cooperating with each other to produce something together and share their reward. To do this in a P2P-based, fully decentralized way, people start producing shares. A share is just a valid block with easier difficulty. So anyone can just modify original client a bit and start producing shares. The algorithm to achieve this is quite simple: if block hash is below share-difficulty, it is a valid share and can be broadcasted to pool nodes. If it also meets network difficulty, it can be broadcasted to the whole network.

Because some people are probably going to destroy all mining pools they can find, everything should be done in secret. So, to start with, people are sending shares only to explicitly listed nodes and to nobody else. To prevent detecting it by some adversary node sending shares to mining pool, the acceptance of the share is not announced to anyone (even "trusted pool nodes") explicitly. When pool node receives some block meeting share-difficulty and not meeting network-difficulty, it should respond with "block invalid" message if asked by anyone, but it should notice that the share is valid and prepare some transaction paying some coins to the share-creator.

After getting some shares from some nodes, each pool node independently broadcasts transaction paying nodes their rewards. It is a normal transaction, so there is nothing that adversaries can do to prove that it is a payment from mining pool. Also, as a normal transaction, other nodes can receive and broadcast it, so tracing the first node that produced this transaction seems to be impossible. Any inputs can be used to produce this transaction and also such transactions can be coinjoined, so finding the creator in a M inputs to N outputs transaction when M and N are greater than two is not possible with 100% accuracy.

There is nothing to lose using this method. Every pool node is also solo mining, shares are produced in the same way as normal blocks, except they have easier difficulty. To prevent spam, every node should decide how many times easier this difficulty should be. It is also possible to do some performance testing and just collect blocks locally to determine how many times easier this share-difficulty should be. Because everything that is needed to produce the next block is the hash of the previous one, it is also possible to run one instance of the original client and attach to it from many mining clients, getting only previous block header (and maybe also pending transactions or some stuff similar to getblocktemplate in Bitcoin). It is probably also possible to create some stratum-like protocol and produce only data needed by block headers, shared with every connected node.

However, the simplest possible way is just sending blocks. It is compatible with all clients. So, the node is solo mining and sending some shares to some trusted nodes. At the beginning, it is possible to communicate with some other miners owned by the same miner. Later it is possible to trust someone for a while and send some shares to it. If after some time the node receives some coins, it is marking such node as trustworthy and still sending shares to it. If not, it is marking it as a solo-only node and choose another node. In this way it is possible to find modified clients in a P2P-way instead of some centralized way.

Because 2POW divides the proof of work into two phases. According to the conventional mining pool, miners submit lower-difficulty proof of work to the pool to get rewards. Then all miners only need to submit the lower-difficult proof of work in the first phase, instead of completing the entire 2POW. This is because Many less difficult tasks in the first phase will get more expected benefits than completing the entire 2POW.

[wolfwolf]

I have seen many saying that there must be a mining pool, but I have never seen a specific plan for a mining pool now.

[MonsterV]

I have seen many saying that there must be a mining pool, but I have never seen a specific plan for a mining pool now.

where did you see that? i dont think there is mining pool available for this coin because you only could mine it solo with your computer online 24/7 to mine this coin you should have atlease 2 core of cpu and 4 gb of ram if im not mistaken, there already buyer buy the coin from miner , ive mine this coin daily and sold it, quite good to make good profit per day, you should try it mate, if you need help feel free to ask on discord, there is admin could help you set up mining very simple.

[AllForOneA41]

I again see that we have a massive miner 0xa1b586 is making 5 blocks at 10 mined ratio can You please decrease a little number of nodes, please ?

[othell_rogue]

I again see that we have a massive miner 0xa1b586 is making 5 blocks at 10 mined ratio can You please decrease a little number of nodes, please ?

I saw this today in Discord that a single address is mining 50% of all blocks, confirmed also by a support member of Luck coin.

What you should do?
My suggestion is not to beg the miner to reduce the number of nodes/miners, but for the dev to find a solution to this issue, since the whole purpose of this coins is now doomed.

"A new consensus algorithm to eliminate large mining pools" - the consensus may be eliminated for the large pools but not for the large miners.

"one-CPU-one-vote" vision - if someone is mining with 1000 CPUs over a 2000 nodes (CPUS) network, this consensus is not better than the clasic POW one, is even worst.

My 2 cents!

[Sherlock.Holmes]

I again see that we have a massive miner 0xa1b586 is making 5 blocks at 10 mined ratio can You please decrease a little number of nodes, please ?

I saw this today in Discord that a single address is mining 50% of all blocks, confirmed also by a support member of Luck coin.

What you should do?
My suggestion is not to beg the miner to reduce the number of nodes/miners, but for the dev to find a solution to this issue, since the whole purpose of this coins is now doomed.

"A new consensus algorithm to eliminate large mining pools" - the consensus may be eliminated for the large pools but not for the large miners.

"one-CPU-one-vote" vision - if someone is mining with 1000 CPUs over a 2000 nodes (CPUS) network, this consensus is not better than the clasic POW one, is even worst.

My 2 cents!

There is no need to stop big miners, his gains are in full proportion to his efforts.
There are still many essential differences between mining pools and large miners.
For example, in traditional POW, there are 10 nodes in the entire network, the 5 are solo, and the other 5 are alliances, then the chance of the alliance winner is not 5/10, but 27/32, which is much greater than 5/10 , this is the key to unfairness.
In our network, your chance of winning is always equal to the proportion of your contribution to the entire network.
In addition, since there is no profit advantage in cooperation, there will be no mining pools. In the end, there will be more large miners without alliance and some free small miners, and the system will be more decentralized, and thus more safety

[othell_rogue]

There is no need to stop big miners, his gains are in full proportion to his efforts.
There are still many essential differences between mining pools and large miners.
For example, in traditional POW, there are 10 nodes in the entire network, the 5 are solo, and the other 5 are alliances, then the chance of the alliance winner is not 5/10, but 27/32, which is much greater than 5/10 , this is the key to unfairness.
In our network, your chance of winning is always equal to the proportion of your contribution to the entire network.
In addition, since there is no profit advantage in cooperation, there will be no mining pools. In the end, there will be more large miners without alliance and some free small miners, and the system will be more decentralized, and thus more safety

I see your point of view: the nodes.

Here is mine: the coins.

Maybe you fixed the node problem pools have, but you have a new problem - all the coins goes now to a single owner, instead of multiple owners. This is why I've said is worst than traditional PoW, instead of a pool getting 50% of mined coins (which will be spread among all individual miners) now we have 1 miner getting 50% of the coins, but we are pool free.

And not to be negligible, with this approach the scenario can go like this: Let's say I mine solo (because there are no pools involved) but since is not profitable for me because 1 single miner gets 50% of all block, I leave. So will do all the small miners, if is not profitable anymore and this will lead him to mine more and more blocks until probably he will mine 100% of the blocks.

Now tell me, where is the decentralization?

[Sherlock.Holmes]

I see your point of view: the nodes.

Here is mine: the coins.

Maybe you fixed the node problem pools have, but you have a new problem - all the coins goes now to a single owner, instead of multiple owners. This is why I've said is worst than traditional PoW, instead of a pool getting 50% of mined coins (which will be spread among all individual miners) now we have 1 miner getting 50% of the coins, but we are pool free.

And not to be negligible, with this approach the scenario can go like this: Let's say I mine solo (because there are no pools involved) but since is not profitable for me because 1 single miner gets 50% of all block, I leave. So will do all the small miners, if is not profitable anymore and this will lead him to mine more and more blocks until probably he will mine 100% of the blocks.

Now tell me, where is the decentralization?

The reason why someone may deploy 50% of the nodes now is because currently not many people have participated in this project. If enough people come in to participate in fair competition, decentralization is inevitable. Maybe there are hundreds of large miners, and they all deploy a large number of machines, according to the daily output, they may get the same amount of coins. But there are only a few large-scale mining pools in Bitcoin network.

[Sherlock.Holmes]

Recently, many partners have questions about premine (total 300,000).
I sorted out all the premine used in the previous period
date              to                                                                                             amount           purpose
2020/07/24   0xaa57e29dd99480c6b155b8734b78de1910a9e402b6eabd81c7    5                Create and maintain discord - https://discord.gg/TN6XhcD
2020/07/26   0xb9a09471b96583f967f3cd314a5c74a6c2bf08f94fb8b27001    20               Article
2020/08/03   0xb9a09471b96583f967f3cd314a5c74a6c2bf08f94fb8b27001    10               Article
2020/08/15   0x60c8470525754e247d449a785cf79f7855d5222e7703ef4d22    200              Provide 2 seeds
2020/08/15   0x01d94b0dd928233986579e8634a1c6031bf704c46a4a297ac2    100              Provide 1 seeds
2020/08/16   0xeab4d47a75beaac9bf64ab3b1800bf6af3b4f0fba30e219382    600              Provide 6 seeds
2020/08/16   0xaa57e29dd99480c6b155b8734b78de1910a9e402b6eabd81c7    200+60           Provide 2 seeds + create site - http://luckclock.xyz/

Current balance: 298,804

Seed node rewards to be paid for 1 year 1100 * 12 = 13200

How to use the remaining 298804-13200 = 285604, I want to hear your opinions, thank you
1 Direct destruction: The remaining tokens are directly transferred to 0x000000... address, this is the simplest and fairest way.
2 The community establishes reward rules, and the incentives who meet the conditions are certified by the community, then we are responsible for the distribution of incentives.

[x23a1s]

Thats great that you share the premine details with all of us 

I also posted it in the luck community discord and created 2 new channels.

#premine-proposals and # premine-discussion

to collect some ideas and how the community like or dislike the ideas.

[othell_rogue]

How to use the remaining 298804-13200 = 285604, I want to hear your opinions, thank you
1 Direct destruction: The remaining tokens are directly transferred to 0x000000... address, this is the simplest and fairest way.
2 The community establishes reward rules, and the incentives who meet the conditions are certified by the community, then we are responsible for the distribution of incentives.

I don't agree with point 1 - to destroy the tokens. The tokens can be used to fund the development of the project. The fund can be used to pay services, team members, managers, marketers, etc. For example the services you mentioned above nodes, website, etc.

This is my personal opinion.

Cheers and good luck!

[MonsterV]

I don't agree with point 1 - to destroy the tokens. The tokens can be used to fund the development of the project. The fund can be used to pay services, team members, managers, marketers, etc. For example the services you mentioned above nodes, website, etc.

This is my personal opinion.

Cheers and good luck!

yeah that right, people mine this coin like dead but dev burn it easily, that wont limited supply lets be fair and use the coin properly, im very agreed with point 2 and add more bounty to attracted people to this coin so we can have more online node on chain, signature is the best options, ive give dev suggestions to have signature bounty for this coin but looks like he is not replying my message on dms, i hope he will see and use the premine for bounty insteads burn it out.

[x23a1s]

I don't agree with point 1 - to destroy the tokens. The tokens can be used to fund the development of the project. The fund can be used to pay services, team members, managers, marketers, etc. For example the services you mentioned above nodes, website, etc.

This is my personal opinion.

Cheers and good luck!

yeah that right, people mine this coin like dead but dev burn it easily, that wont limited supply lets be fair and use the coin properly, im very agreed with point 2 and add more bounty to attracted people to this coin so we can have more online node on chain, signature is the best options, ive give dev suggestions to have signature bounty for this coin but looks like he is not replying my message on dms, i hope he will see and use the premine for bounty insteads burn it out.

feel free to join our discord and make your proposal public there for what the community thinks about it
if you arent already there lol