As the introduction to the cryptocurrencies as we see them now happened half a decade ago there is always some new concepts arising. This time the concept is a digital coin with a mining principle that resembles lottery.
You heard me right, LottoCoin is fast-mined, giant cap crypto that is designed to be the game currency but about it later, some specs first. Each block is generated every thirty seconds and what is rare these days – difficulty corrects after each block is mined, so no doubt about the fast nature of this coin. The mining is based on proof-of-work scrypt.
Now, the most interesting part. The mining of this altcoin works just like a lottery – every minted block holds from 256 to 65536 LottoCoin . Feel the random so to say. Oh, and if this isn’t feels like a lottery enough for you there are also an hourly lotto that could give the miner twice the mining maximum, semi-daily lotto twice as much as previous and finally the daily jackpot which amounts to 1048576 coins in a block.
If only they were the same price of BTC. Anyway, another feature is a really gigantic cap – 18 and a half trillion coins! Although, looking at the amount per coin and the cut of the payout every three month tells me that it won’t take as long as it seems at first sight.
The site lottocoin.org also positions the altcoin as the currency for gamers. They have some links to the games where this currency can be used to bet in virtual casinos, though you still only get paid in LottoCoin , which is obvious.
Well, the new crypto seems fun enough to try out, especially until difficulty went up. However, I am still waiting for the currency that allow me buy games from SteamStore.