Lucky Block (LBLOCK) is a prominent cryptocurrency casino project built on the BNB Chain (BNB). Initially, its native token, LBLOCK, experienced a substantial surge in January 2022, reaching an all-time high of $0.009387, but it has since declined significantly to $0.0001431 as of December 21st.
The Lucky Block casino platform was developed to address various issues in traditional lottery systems, such as operational risks, susceptibility to hacking, lack of transparency, trust, and liquidity. It aims to achieve transparency, fairness, and player-centricity in the gaming industry while offering a solid investment strategy for ticket buyers and contributing to charitable causes and the community.
Utilizing distributed ledger technology (DLT), Lucky Block casino enables fast and almost instantaneous prize payouts, distinguishing it from conventional lottery platforms with slow transaction processing. Key features of Lucky Block Casino include reducing draw time, allowing multiple draws per day, lowering operational costs, and facilitating margin operations.
LBLOCK is the platform's native cryptocurrency for payments within the Lucky Block ecosystem. Token holders can participate in the lottery by staking their LBLOCK tokens for a chance to win the Daily Jackpot. Those who opt not to enter the lottery still receive a share of the Daily Jackpot dividend payment. Jackpot winners are determined by the platform's internal random number generator (RNG), with 70% of the jackpot going to one winner, 10% allocated to charity, 10% for platform marketing, and the remaining 10% distributed among LBLOCK token holders based on their investment size.
LBLOCK was launched through a pre-sale event in Q4 2021, during which 32.5 billion tokens were sold over 49 days. Subsequently, a newer version, LBLOCK V2, was introduced in the summer of 2022, based on the Ethereum blockchain. LBLOCK V2 aimed to eliminate sales tax, making it more accessible on exchanges, particularly those that do not support tokens with sales tax, thus expanding its reach and accessibility.