Lucky Chain: Building a Globally Fair and Trustworthy Random Algorithm System with Public Chain

Place/Date: - February 2nd, 2020 at 3:09 pm UTC · 4 min read
Source: Lucky Chain

Luck has given mankind infinite reveries since ancient times, and it reflects the pursuit of all good things on the basis of fairness. Philosophically speaking, luck is an inevitable chance, which has given people beautiful wishes and can be explained mathematically by probability. Therefore, the eternal research field of probability has been created and brings human society great value.

With the development of society and the change of human collaboration modes, the application areas of lucky algorithms are also increasing. However, the centralized organization assumes its lottery process and results display. Its credibility and security depend on developers and managers. And the organizer’s quality, technology and related institutional arrangements.

It is very easy to have internal manipulation and institutional loopholes to affect the fairness of its results. Taking the online gambling scene as an example, whether the drawing of playing cards is fair and there is no suspicion of cheating, and whether the number of dice is set in advance are key factors that determine the outcome but not invincible at Internet era.

Although the Internet has successfully constructed an information network, enabling the lucky algorithm to operate in the network, the credibility and transparency of the operation cannot be effectively guaranteed. When the ceiling effect of the lucky scene was revealed, Lucky Chain came into being.

Lucky Chain (referred to as LUC for short) is a public chain infrastructure based on random algorithm that focuses on social and business needs. The system provides a customizable blockchain infrastructure service through an intelligent and trusted cryptographic lottery mechanism, and truly implements the implementation and credible operation of lucky algorithm based on the principles of fairness, justice, and security with technical power.

Lucky Chain uses a decentralized information mechanism as its infrastructure to achieve information sharing, transparency and immutability. Among the new coronavirus epidemics that have swept the world recently, the application of the Lucky Chain information mechanism can achieve efficient and credible information system, build a new epidemic governance model, and effectively protect human health with technology.

Lucky Chain, as a fair and credible lucky algorithm infrastructure, can carry many lucky algorithm application scenarios, and has extremely high value potential in social and commercial applications. In democratic elections, Lucky Chain can ensure that all votes are authentic and credible through distributed ledgers, smart contracts, asymmetric encryption technology, and blockchain’s decentralization and immutability, so that the results can truly reflect democratic will which can improve social governance. In global education, such as the admissions process of Bullis Charter School (BCS) in Silicon Valley and French elite schools, there are lots of lucky algorithm applications.

The application of Lucky Chain can make the admission process transparent and credible, make the access to educational resources more fair and credible, and create high social value. In the finance scenario which is more directly related to the benefits, the application of Lucky Chain is even more necessary. By empowering “IPO lottery”, auctions, gambling and other scenarios, it can ensure the reasonable returns of all participants and create a distributed, fair and transparent financial system.

Lucky Chain is a distributed economic ecosystem consisting of the underlying infrastructure and many application scenarios. What links all scenarios and all participants is the LUC token built into the Lucky Chain Lucky Chain network. LUC is the driver in the entire ecosystem, carrying the function of the entire ecological value transfer. Its value ultimately comes from the huge dividends brought by ecology development.

Based on digital identity and high liquidity transactions as the application foundation, it will be used to support project cooperation, community construction, community governance, application development, consumption, and participation rewards. In addition, in order to drive the dual enhancement of the value and price of LUC, a “use-and-destroy” mechanism will be launched in the LUC ecosystem. In any scenario, once LUC is used and the corresponding rights are exchanged, LUC will be destroyed.

Currently, Lucky Chain has moved towards the application, and the ecology token LUC will be first launched globally on the BitTok Exchange on February 3, providing an entrance for all participants. Based on the global fair and credible lucky algorithm infrastructure, Lucky Chain will fully utilize the application potential of public chain and guarantee that the god of luck will come to the world fairly and justly. In the future, all participants of Lucky Chain will be united and create great value for global society and business.