Innovations
New Hash Algo
JackpotCoin Hashing Algorithm (JHA) has been designed to combined the advantages with QuarkAlgo (Random Hashing), and Heavy (Anti-parallelism) + Variable Round to maximize the Anti-paralleism to repel on Extream Multi Core Hardware such as ASIC without increase the complicity
True Random Superblocks
Previous coins used previous hash as seed of random number generation. Unfortunately this is predictable and is profitable for multipools and cheaters. JackpotCoin uses the true randomness to generate the superblock (jackpot), so it is 100% fair for everyone.
Super Rewarding Jackpot
Jackpot provided by superblock in JackpotCoin can be very rewarding. The jackpot increases parabolically with the distance to the last superblock. The jackpot starts at 10x the normal payout, grows to 100x at the average trigger time of the superblock. If double time passed and no superblock generated, the payout will be increased to 1000x the normal payout. Good luck to grab it!
Separate PoW/PoS Targets
In previous PoW/PoS coins, the target times are the same for them causing different issues. JackpotCoin has different block targets for PoW and PoS. The separation created a lot advantages. The transaction confirmation is zap fast (less than 1 minute on average) because of the fast PoS block time.
Specifications
Overall:
- PoW/PoS independent
- 3 transaction confirmations
- average less than 1 min confirmation
- 70 minted block confirmations
- Total coins will be approximately 30 billions.
PoW:
- 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
- Superblock payout (aka the jackpot) will starts at 10X normal block payout, and grows parabolically when the distance with last superblock increases. The average interval between superblocks will be 3.5 days. The payout starts at 10X normal payout, grows to 100X at 3.5 days, and then grows to 1000X at 7 days (if the superblock not triggered). After 7 days, the payout will stay at 1000X, but at the end of the 8th day if still no superblock is triggered by the random number, the system will gradually increase the chance for a superblock until a 1000x superblock is triggered.
- 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)
PoS:
- 20 sec block target
- Diff retarget each block
- 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 30 days (after 30 days, only the 30-day coin-day will be counted).
Ports:
- connection: 15371
- RPC: 15372
Downloads (Version 1.6)
Source Code (github)
https://github.com/JackpotCoin2015/JackpotCoin (All sources for coin and miners)
Frequent Asked Questions
JHA has designed using Random Hashing Method and Random Variable Hashing Round using SHA3, Blake, Grøstl, JH, Skein. and, Archive the highest Secure Level via the currently announced methods without increase the requirements such as electric or hardware cost. and Permanently ASIC resist because of there are multi-level of anti-parallelism in instruction, sub module, even full rounds of hashing.
We using SHA3 512 Hashing for input round, and 0~7 extra random hashing rounds are followed. The length of round will be adjusted by time.
Reduce the hashing load but increase the security
JHA is using variable random hashing rounds, it will reduce the hashing power requirements to 1/2 compare the linear hashing method. but, Up to 16234 times higher security. And, The rounds will be increased by time via increasing of mining hardware to protect the old CPU and GPU miner.
Permanent ASIC resist without increase the hardware power usage.
To archive the large scale miner such as ASIC miner, JHA need the very high power host processor to increase the threads of compute unit in ASIC or the modern GPU. It will increase the mining hardware cost (not just chip level) and make impossible to use with coin.
Power saving for GPU.
Using heavy anti-parallelism, it using < 75% of ALU in the modern SIMD GPU. and, It force to work GPU in the lower power consumption mode.
Fair Mining Performance Distribution
CPU Mining (Intel i7-2600) 180k (un-optimized CPU miner)
> 320K (with optimized CPU miner, under developing)
AMD 6970M @ ~600k
AMD R9 280X ~1000k
Most previous coins that contain the random block payout are based on the algorithm first developed in LuckyCoin, the algorithm relies on the previous block hash to determine if the current block is a superblock, or to determine its payout, because the current block hash is not available at the time where payout is computed. This causes a problem: because previous hash can be seen by everyone, people will know if the next block will be a superblock or not. If it is, then those with big hashpower such as multipool can jump in and mine the next block, and jump out if the next block is not a superblock. This gives multipools and other cheaters a chance to get big block payouts (often the superblocks are 10x or even 100x the normal block payout).
The true random superblock was first developed in Grain (GRA). Where it enhanced the algorithm the LuckyCoin developed. It gives the superblock to the finder of the hash where it meets the superblock criteria. So the cheaters can no longer use the previous block hash to determine their lucks, as if the superblock is triggered based on the previous lucky hash, the superblock payout will go to the wallet address that receives the previous block. This is a 100% fair way to distribute the bonus superblock.
JackpotCoin enhanced the algorithm for true randomness, and added several improvements. Now it is used for the jackpot up to 1000x the normal payout. And good luck to everyone on the jackpot!
Sure. The jackpot is the superblock payout. On average, there will be one jackpot per 3.5 days (thus 1/2520 chance). The longer the time to get a jackpot, 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.
You can find out the current jackpot size in one of the 4 ways below:
1. It is posted at OP of the JackpotCoin main thread:
https://bitcointalk.org/index.php?topic=584481.0
2. You can find it also on our website:
https://jackpotcoin.info
3. You can check using the console in QT client. Open the console (Help->Debug Windows->Console), then type “getcurrentjackpot”.
4. Use a damon (jackpotcoind) and “getcurrentjackpot” command. For example on windows: jackpotcoind.exe getcurrentjackpot.
Among the many original features Jackpotcoin provides, one important and original feature is the separation of PoW and PoS. All previous PoW/PoS coins share the same target block time for PoW and PoS. This causes a serious problem for the PoW. As we all know, the coin usually starts with PoW (since PoS based on the coins that need to be mined first). So when the PoS block kicks in, the normal PoW rhythm is broken, the block chain changes from PoW-PoW-PoW- to a mix of -PoW-PoS-PoS-PoW-PoS-PoW-PoS-PoS- etc.
Why this causes problem? well because the target block time is fixed (and are the same for both PoS and PoW). Because of this, the PoW can not keep the target block time. So the algorithm (from Peercoin/Novacoin) delays the PoW block target time (to up to 12X the normal target time). This often causes erratic diff oscillations and usually makes the PoW blocks difficult to mine (due to the huge increase of block time which causes the diff to increase big time). This is a common problem of PoW/PoS mixed coins.
Some recent coins tried to avoid this problem by making the coin transit from pure PoW to pure PoS, thus avoided the co-existence of PoW/PoS, so to avoid the above-mentioned problem. This wave of coins is led by MintCoin. Many copycat coins exist after MINT. Though intelligently avoided the problem, the MINT and its copycats (such as BC, ECC, etc) did not really handle the issue of PoW/PoS coexistence.
JackpotCoin 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, Jackpotcoin separated the two mechanisms while keeping them in the same blockchain. This is a big advance of the PoW/PoS coin. For JackpotCoin, 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.
Another big advantage of this new and original feature, is that the transaction confirmations become zap fast. The transactions are mainly confirmed with PoS blocks, which is a lot faster than PoW blocks. Thus, without issuing more coins related to mining, the JackpotCoin’s transaction is confirmed in less than a minutes on average. This makes the coin is a good candidate for real world spending coin.
