What is Lucky Block?

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(Last Updated On: 2. July 2022)

The new cryptocurrency Lucky Block (LBLOCK) aims to merge two of the biggest digital trends of recent years: cryptocurrencies and online gambling. But what exactly is this project about and how can you buy Lucky Block? In this article, you will get everything about the LBLOCK Coin and how to invest and trade in it. I will also deal with the question of how serious this project actually is.

Disclaimer: Every trade is risky and there is no guarantee of profit. Any content on my website is for informational purposes only and does not constitute a recommendation to buy or sell. This applies to assets as well as products, services and other investments. The opinions expressed on this site do not constitute investment advice and independent financial advice should be sought whenever possible.

What is Lucky Block?

Lucky Block is a blockchain platform for online lotteries and other gambling, and smart contracts are forming the basis of this project. These should guarantee a certain degree of transparency and fairness, which should surpass everything that current gambling platforms make possible. According to their own statement, the developers behind Lucky Block were motivated by the lack of transparency that characterizes conventional gambling providers. By using blockchain technology, this project wants to offer a completely decentralized calculation, draw and payout in a crypto-based online lottery. The technological basis of the platform is the Binance Smart Chain. The native Lucky Block token is LBLOCK – a BEP-20 token.


What are the features and benefits of Lucky Block?

The developers want to address a number of the fundamental problems of online gambling. At the same time, Lucky Block offers an interesting an ambitious investment goal.

Transparent and fair payouts:
Lucky Block allows multiple draws per day using Smart Contracts. It would run absolutely randomly and the drawing of lots should be visible and verifiable at any time. With this, the project wants to stand out from the masses of rather non-transparent gambling sites.

Reliable and proven blockchain technology:
LBLOCK is based on the Binance Smart Chain and it has an own which is a BEP-20 token.

Regular profit sharing for token holders:
70 percent of the profit distributions should go to the winners of the respective lottery for each draw. 10 percent will be distributed proportionately to the individual token holders.

Fixed Maximum Supply and Token Burn:
The maximum supply of the Lucky Block cryptocurrency is fixed at 100,000,000,000 tokens. At the same time, a fixed burn rate is to be implemented in order to increase the value of LBLOCK over time.


A brief overview of pros and cons

Pros of Lucky Block

• Combines blockchain technology and online gambling

• High degree of transparency

• Security due to decentralization

• Increase in value through regular “burning” of tokens

• Token holders participate in lottery payouts

Cons of Lucky Block

• It’s a young project with no real results or realistic future prospects

• No listing on crypto exchanges yet

• Currently no lottery available (at the moment of publishing of this article)


What is the current price of LBLOCK?

Anyone who wants to buy Lucky Block can currently do so via the decentralized crypto exchange PancakeSwap. After LBLOCK was sold out early as part of the presale, it was listed on PancakeSwap on January 26th. The starting price was $0.00021 and you can check the current price on this website.

Where to buy Lucky Block?

You can buy LBLOCK via PancakeSwap.  In the following guide, I will explain you step-by-step how to buy Lucky Block.

1. Visit PancakeSwap website

The first thing to do is to visit PankaceSwap. Click here to go directly to the Lucky Block trading page at PancakeSwap. There you can get an overview about the current LBLOCK price as well as liquidity and trading volume.

 

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Lucky Block trading page at PancakeSwap

2. Connect your wallet

As a decentralized exchange, PancakeSwap does not require time-consuming registration. Instead, you can buy LBLOCK there quickly and easily using your wallet. To do this, you must first connect your wallet with PancakeSwap. Supported by e.g. Metamask, Trust Wallet or Wallet Connect. Simply select the appropriate wallet of your choice and connect.

Please note: as PancakeSwap runs via the Binance Smart Chain, the fees incurred during the transaction must be paid with BNB. Therefore, there should be a sufficient amount of BNB on your wallet.


3. Purchase

After your wallet is connected, you can buy Lucky Block. To do this, click on “Trade” and then enter the desired amount of LBLOCK tokens in the buy field. Then the field below shows how much this would cost in the selected cryptocurrency. CAKE is selected by default. With a click on it you can choose another cryptocurrency in which you want to pay. In our case it must be BNB because as mentioned, you need to pay the transaction fees with BNB. Now you have to confirm the swap and the desired amount of LBLOCK Tokens will be yours.


What speaks for an increase of LBLOCKs price in a long term perspective

The LBLOCK project is a very young one and actually does not allow a realistic outlook. But let’s try it nevertheless.

Lucky Block aims to reconcile two of the biggest digital trends of recent years: blockchain technology and online gambling. Both have recently picked up massively and new crypto projects enter the stage literally weekly. Especially those projects that aim to apply blockchain technology and related developments like DeFi and smart contracts to new fields tend to explode in value quickly.

What speaks in favor of this projekct is that online gambling is an enormous market that has not really been included in an blockchain so far. Experts currently estimate that the online gambling market will grow by an average of 11.94 percent annually between 2021 and 2026. In combination with the enormous growth potential the blockchain could offer in the coming years, the possible potential of LBLOCK appears to be quite significant. Lucky Block wants to use smart contracts to make online lotteries more secure and transparent than the current online lotteries. With the Binance Smart Chain, there is a technological basis for this purpose.

In order to be able to grow in the long term, this project needs as many users as possible, of course. On the other hand, the presale was indeed very successful. All Lucky Block tokens were already sold out two weeks before the planned end of the presale phase. So there seems to be a high demand for Lucky Block Tokens.


What speaks against an increase of LBLOCKs price in a long term perspective

Lucky Block is still a relatively young project and the platform does not have any games. Therefore, it’s difficult at this point to estimate what exactly the platform will look like in its final format and what games will be available there exactly. All in all, this is a speculative project that has extremely high potential, but still has comparatively little substance. Investors who want to invest in Lucky Block should therefore be aware that there is a certain risk.


Is Lucky Block reputable?

This project gives the impression of being serious through and through. It’s currently right on schedule when it comes to the further development of its platform. Lucky Block is not yet listed on any crypto exchange. However, this is set to change in the future. Also, in terms of security, the project has made a solid impression so far. Lucky Block relies on the Binance Smart Chain. This is an established and technically mature blockchain which uses a PoSA algorithm with 21 validators. As a result, the chain is considered extremely stable and safe from attacks. Also, the smart contracts that the project wants to use for its online lotteries were put through their paces by SolidProof, an independent provider that checks smart contracts. According to the test report, Lucky Block successfully passed this audit.


How does LBLOCK work?

Basically, the lotteries at Lucky Block should work according to the same principle as traditional draws. Players can use LBLOCK Coins to purchase tickets for upcoming draws. Draws and subsequent payouts should be possible several times a day.

Transaction costs of 12 percent are incurred when the lots are sold. Of this, 4 percent goes to the lottery pool, 4 percent to the liquidity pools, 3 percent to the NFT & Gaming Royalty Fund and 1 percent would be “burned”. A “Random Number Generator” ensures that everything during the draw is really purely random.

70 percent of the income is distributed to the winners in the form of a profit distribution. The remaining 30 percent is distributed as following: 10 percent each to charity, token holders, and Lucky Block itself.

After the draw has taken place, winners will be credited their winnings immediately.


Conclusion

Lucky Block is a young project that aims to combine blockchain technology and online gambling. The project has successfully completed its presale phase. You can now buy Lucky Block via the DEX PancakeSwap. With the Binance Smart Chain, Lucky Block has a solid technical basis. The concept of using smart contracts to carry out online gambling in a decentralized and transparent manner has great potential. Lucky Block plans to launch its gambling platform during the year 2022.

It is quite possible that the demand for the token and thus the Lucky Block price could skyrocket as a result. In addition, part of the regular lottery payouts will later go to token holders. This allows investors to generate profits with this project even if they do not directly participate in gambling. All in all, Lucky Block seems to be an interesting project with potential.


Disclaimer: Every trade is risky and there is no guarantee of profit. Any content on my website is for informational purposes only and does not constitute a recommendation to buy or sell. This applies to assets as well as products, services and other investments. The opinions expressed on this site do not constitute investment advice and independent financial advice should be sought whenever possible.

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