Jackpot Coin brings the market a true feeling of lottery , offering high “Jackpot” Rewards with their unique Superblock Reward System(Jackpot) which will reward miners with a huge block reward dependable on the time of last superblock . In the first 3.5 days the reward is x100 and when it reach at 7 days it goes 1000 times the normal block reward and stays like that until the Superblock(Jackpot) is found!
Jackpot resilient & secure to ASIC’s attacks
They have managed to pull out a custom algorithm , to make Jackpot Coin a lot less susceptible to ASIC attacks & less power usage , its about Jackpot Hash Algorithm (JHA – a variation of SHA-3 algorithm), minable by both CPU and GPU, both CPU miner and GPU miner are provided by Jackpot Coin development team .
Also they have an enhanced superblock system borrowed from Grain[GRA] for its true randomness feature, and added several improvements. Now it is used for the jackpot , with up to 1000x the normal payout. Good luck to everyone on the Jackpot! You can easily see what the next Jackpot will be by checking their website : http://jackpotcoin.info/wp/#Jackpot .
Ok but what is Jackpot ?
The jackpot is the superblock payout. On average, there will be one Jackpot per 3.5 days (1/2520 chance). The longer the time to get a Jackpot(superblock), the bigger will be the Jackpot size. Jackpot size grows with the distance from the last Jackpot. It starts with 10x the normal payout, grows to 100x the normal payout at 3.5 days, and if the superblock is not triggered it will grow to 1000x the normal payout at 7 days. The size will stay at 1000x after 7 days, and after 8 days the chances for getting a superblock will increase until a superblock hits.
Separated Proof-Of-Work & Proof-Of-Stake
Jackpot Coin brings another interesting feature to the table by impoving the system P.o.W/P.o.S by total separation so they can prevent erratic difficulty changes between systems . All previous PoW/PoS coins share the same target block time for PoW and PoS. This causes a serious problem for the PoW.
Some recent coins tried to avoid this problem by making the coin transit from PoW/PoS or pure PoW to pure PoS, to avoid the co-existence of PoW/PoS, so to avoid difficulty chaos on PoW . This wave of coins did not really handle the issue of PoW/PoS coexistence they only avoided.
Jackpot Coin is the first coin successfully handles the issue. By defining different target block times for PoW and PoS, and completely separation of the diff retargeting for them, Jackpot Coin separated the two mechanisms while keeping them in the same blockchain. This is a big advance of the PoW/PoS coin. For Jackpot Coin, the PoW target block time is at 120 sec, while PoS at 20sec. The PoW block time matches perfectly the target block time, and the generation of PoS does no longer affect the PoW mining.
Technical Info & Social Media
3 transaction confirmations – average less than 1 min confirmation
70 minted block confirmations
Total coins will be approximately 30 billions.
Proof-of-Work: Jackpot Hash Algorithm (JHA – a variation of SHA-3 algorithm)
Minable by both CPU and GPU, both CPU miner and GPU miner are provided
120 sec block target
diff retarget each block
Initial payout will be 100000 coins per block
True Random Superblock
Block payout will be reduced 10% each week (will be halved at approximately each 7 weeks).
Minimum payout for PoW will be 1 coin/block (will be reached after 2+ years)
Proof-of-Stake: 20 sec block target
PoS daily interest payout initially at 0.1% per day (equivalent to 44% annual interest rate), gradually dropping down to 0.01% per day (equivalent to 3.7% annual rate), the decrease will be over a period of 5 years (rate adjusted each 3 months). Then it will stay at this rate.
Minimum holding time before the pos will be generated: 1 day.
Max accumulated coin-day is 100 days (after 100 days, only the 100-day coin-day will be counted).
1% premine to cover development costs (website, server, development), code maintenance/enhancements, bounties, shops/games, faucets/giveaways etc.
Conclusion & Giveaway
It’s a good cryptocurrencies that keep miners attracted and fair rewarded by their Jackpot System , also they managed very well to keep both Proof-of-Work & Proof-Of-Stake , I must admit i am not entirely happy with their coin supply but maybe it really helps with their liquidity and it’s a good thing .
Giveaway : Post a feedback about Jackpot Coin together with your Jackpot wallet and Win Free Jackpot Coins. – Thanks to Jackpot Coin Community for making this Giveaway possible .