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 best of the luck of 7s!
Lucky7Coin also provides 5% annual interest on the coins held. The interest is paid about every 2 weeks.