Luckycoin (LKY) is a Bitcoin-derived cryptocoin that has some pretty unique characteristics. Launched back in 2014, it has become quite popular for a certain part of the population. This mostly thanks to the Lucky block.
The blockchain network that Luckycoin uses super lucky blocks for miners, which give rewards than can be x2, x5, and even up to x58 the usual. As a proof-of-work system, Luckycoin is mined by the network and those who complete a block first get the rewards. Block rewards are usually halved every 100,000 blocks so it gets smaller and smaller. With Lucky blocks in play, it is possible that miners can hit the mother lode and suddenly have a ton of LKYs.
In addition to providing Lucky Blocks, Luckycoin is aimed at solving a block per minute. This means it can be very fast to mine. It uses an accelerated difficulty adjustment algorithm to ensure fairness so that the system will always have blocks solved no less than a minute. It works by scaling difficulty to the power of the processor.
Getting that Lucky block
Luckycoin mining is actually pretty easy. It uses the Scrypt proof-of-work algorithm when mining coins. This makes it easier for miners to mine by using base CPUs instead of resorting to dedicated mining rings. Your biggest decision though is where to mine solo or to mine with a pool.
Solo mining is easy enough, but it can take a long time to get the rewards. Pool mining is easier and delivers more rewards in the long run. However, there are fees involved when you join any Luckycoin Mining pool. Since there are many pools available online for this cryptocoin, then you shouldn’t have a hard time finding one that meets your needs. Check out a Luckycoin Calculator to gauge the estimated expected earnings you can collect in a day, a week, a month, and a year.
Setting up your rig should be easy enough. Check the forums for mining software and download one that fits your OS. When you have made your choice install it and configure it for either solo or pool mining. Once done, just hook up your computer to the network to start mining.
Try your luck
Though the coin is not as popular as Bitcoin, Luckycoin has survived the early challenges. Luckycoin mining gives a thrill like no other which distinguishes itself in the marketplace. Try hitting it big by starting your mining efforts now.