Contents

Last updated on November 17th, 2022 at 01:33 pm

The widespread adoption of blockchain technology over the last ten years has allowed thousands of fascinating projects to succeed. These projects involve a diverse range of industries and individuals, and as technology advances, more blockchain-based enterprises are likely to emerge.

Lucky Block, a blockchain-based lottery platform that has piqued the interest of investors and the mainstream media, is one of the most exciting initiatives to launch this year.

This article examines the Lucky Block project in-depth and provides detailed information about the platform.

What is Lucky Block?

The Lucky Block token (or LBLOCK) can be considered a revolutionary initiative in the gambling sector. The tagline of the platform is:

“The Number 1 Crypto Games Platform Where Everyone’s a Winner”

Apart from being tagged as the leading crypto gambling platform, developers and nonprofits also earn rewards when profits are distributed. Therefore, Lucky Block can be considered a type of social cryptocurrency.

The project’s whitepaper outlines several specific objectives, such as:

Developing transparent and ethical gaming procedures.
Creating a global gaming platform with increased winning opportunities for players.
Providing savvy financial advice to ticket purchasers, and
Community development

Regardless of the win size, Lucky Block employs distributed ledger technology to provide faster and more transparent payouts while maintaining thorough monitoring and documentation. Lucky Block validates the players and tickets to further reduce the possibility of data loss, deletion, or manipulation.

Lucky Block is also managed as an open-source project. Companies, particularly up-and-coming, innovative start-ups, are free to use the blockchain. The Lucky Block network’s version 2 was launched in February 2022. This version works with Ethereum and serves as a portal to the world of Ethereum assets, users, apps, and dealers.

Decentralization and the Lucky Block Platform

The Lucky Block platform was created and is currently hosted on the Binance Smart Chain. The Binance Smart Chain (BSC) is a blockchain network that employs the Proof-of-Stake consensus method. This process ensures that BSC can attain block speeds of about three seconds and is thought to be “greener” than Bitcoin and Ethereum’s Proof-of-Work mechanisms.

This implies that the Lucky Block platform is based on a lightning-fast, scalable network that supports smart contracts. Furthermore, BSC, like all blockchain networks, is entirely decentralized. All users of the network can view the data on the ledger, making the Lucky Block platform “trustless.”

Lucky Block employs distributed ledger technology (DLT) to ensure transparency and safety. This feature is built into the network of blockchains like BSC, which helps protect projects from cyberattacks because there is no “centralized” data repository. People who use Lucky Block can feel secure using their money on the platform to participate in lotteries.

The NFT Collection by Lucky Block

The Lucky Block project also offers an NFT collection known as the Platinum Rollers Club, which is hosted on the Binance Smart Chain and offers decentralized lottery games to players worldwide.

This special NFT collection contains 10,000 collectible objects. Among the 10,000 NFTs are 25 limited-edition collectibles. The NFT has a number typed on the front that looks like a playing card. Platinum Rollers Club NFT owners receive more than just proprietary rights. It also serves as a lifetime-entry ticket for Lucky Block’s NFT lottery.

Every day, LBLOCK holds an NFT draw. One lucky winner will have the chance to win the jackpot during this draw. Participants must own a Platinum Rollers Club NFT.

What Makes Lucky Block Unique?

Lucky Block was launched in January 2022, and since then, it has become one of the most secure solutions on the Binance Smart Chain network.

Overall, the rewards are more transparent and timely, but what distinguishes LBLOCK from the competition is that, regardless of the stakes, you are always subject to full supervision and documentation due to distributed ledger technologies.

Data loss or tampering is almost impossible because Lucky Block checks the tickets and the people participating in the lotteries. Players will be pleased to learn that Lucky Block is an open-source project in which it takes great pride. This means that any business, regardless of industry expertise, is free to use this blockchain.

What is LBLOCK?

LBLOCK is Lucky Block’s native token. A total of 100 billion LBLOCK tokens can be minted. 1% of the sales transaction amount is burned to reduce the total supply of LBLOCK tokens and support its price. It is currently trading on CoinMarketCap for $0.0009496 (June 2022). LBLOCK tokens can be used for different transactions within the Lucky Block ecosystem. These include lottery ticket purchases and jackpot distribution.

Currently, BNB is the most popular trading pair for LBLOCK tokens. Investors can use the LBLOCK exchange or the decentralized PancakeSwap exchange to trade LBLOCK. Since LBLOCK investors receive 10% of the daily jackpot proportionate to their LBLOCK holdings, the token holders will also be rewarded for holding the token. Hence, those interested in earning a passive income can buy LBLOCK tokens.

How to Buy $LBLOCK

You can buy the LBLOCK token on PancakeSwap. You can use the Binance Coin (BSC) to buy $LBLOCK if you want to benefit from Lucky Block’s success while reducing some of the risks.

Beginners can also use Crypto.com because it is an intuitive trading platform with a user-friendly layout and detailed instructions. Crypto.com provides an entire ecosystem, including a credit card, staking, and lots more.

Why Should You Buy $LBLOCK?

The fundamental benefit of using the Lucky Block token (LBLOCK) is that you can not lose, regardless of the outcome. This is because everyone benefits in the end—including the winners, the developers, and the non-profit organization involved in the transaction.

Depending on the stakes, you can be sure that you will make a lot of money or just enough to be happy with your participation. This is because the profits offered depend on the rewards of the deal.

Sweepstakes are already seen as being viable in the open market. Still, Lucky Block takes this concept a step further by offering players a more sustainable version of it.

It’s also important to note that Lucky Block operates based on the digital token BEP-20, which can be used on the platform for various purposes, including the simple distribution of rewards and the purchase of different lottery tickets.

Finally, you can receive your jackpot immediately because the prizes are distributed in LBLOCK tokens rather than fiat currency.

Partnerships

The group has worked with The Manc Group and Finixio. The Manc Group is a popular local social publisher that excels at entertaining its audience. Finixio is a London-based media outlet. The company focuses on financial, cryptocurrency, and technological issues. It has 4.5 million unique visitors monthly and manages over 50 financial news websites.

The Lucky Block team has partnered with these organizations to focus on expanding the market reach of its products and services.

Is Lucky Block a Secure Investment?

The Lucky Block price trend indicates that the token’s value has decreased in recent weeks. There is a lot of conjecture that this coin is a hoax because it is a new competitor in the cryptocurrency market.

LBLOCK has not proven to be a reliable token, in our opinion. Although the concept is novel, we are skeptical of this cryptocurrency because there is no documentation or information about its inner workings on the official website.

We believe you should only invest in Lucky Block for the long term if you believe in the project. LBLOCK may be a profitable investment, but there hasn’t been enough media attention to objectively assess the project’s integrity. Investing requires skill and could be a risky venture. Ensure that you conduct due diligence and pay attention to fundamental analysis before investing in a highly volatile asset.

In Conclusion

The Lucky Block platform aims to make the lottery experience more enjoyable. This has already piqued the interest of the media and retail dealers.
The goal of Lucky Block is to improve current lottery systems and create a decentralized platform that can be used all around the world. The primary goal is to use blockchain technology to provide more open and fair lottery games.
In addition, Lucky Block wants to increase the number of daily draws and shorten draw periods. Given the popularity of lottery games and the advancement of blockchain technology, Lucky Block’s concept is likely to gain traction in the future.

Disclaimer: This article is intended solely for informational purposes and should not be considered trading or investment advice. Nothing herein should be construed as financial, legal, or tax advice. Trading or investing in cryptocurrencies carries a considerable risk of financial loss. Always conduct due diligence.

If you would like to read more articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, and Instagram.