Emerging in 2009, cryptocurrencies did not attract much attention in the beginning. However, a few years later, as exchange rates and market capitalization of several leading virtual assets increased significantly, many people began to follow the cryptocurrency world closely, looking for new and promising projects to invest in profitably. Today, the crypto industry has 18,000+ tokens involved in various projects that benefit from blockchain, a powerful technology with a big future. One promising newcomer today is LuckyBlock, an online lottery platform where – according to the creators – every participant is a winner. Since both the crypto industry and online gambling are rapidly growing markets today, LuckyBlock may be the perfect symbiosis of crypto technology and gambling that is in high demand in many countries. We are here to talk about LuckyBlock platform, and its advantages over regular online lotteries and also to make predictions about the price of LBlock, a native token of the lottery platform.
LuckyBlock is a Revolutionary Blockchain-Based Lottery Platform
Although distributed database technology was originally described by research scientists in the 1990s, its first successful practical application came in 2009 with the release of Bitcoin. In Satoshi Nakamoto’s project, blockchain is a decentralized environment where BTC tokens circulate. Over the past decade, the technology has become ubiquitous, serving as the basis for a host of promising projects spanning many industries and social groups. And while the world has seen many exciting solutions and platforms, LuckyBlock represents something truly new and different.
In simple words, LuckyBlock is a crypto lottery platform using Binance Smart Chain technology. The main goal that the creators of the project have set for themselves is to create a lottery platform that eliminates all the disadvantages of existing e-lottery systems. Using blockchain, LuckyBlock can make lotteries more honest and transparent, and increase the winning chances of each participant. In addition, LuckyBlock makes electronic lotteries accessible to everyone from anywhere in the world. In order to participate in the LuckyBlock lottery, you only need to have a device with a global network connection. So, let’s find out the problems of modern online lotteries and how LuckyBlock can solve them by using blockchain.
Traditional Lottery Challenges to Be Solved by LuckyBlock
Before making LuckyBlock price prediction, let’s learn more about the project that uses LBlock, a token that is attracting more and more attention from investors and ordinary crypto enthusiasts alike. When making price predictions for digital assets to determine how good an investment they are, most experts tend to use technical analysis tools. However, in today’s crypto world, the intrinsic value of a token plays an important role. While a major player like Bitcoin has been able to reach heights without offering any additional benefits beyond the ability to be used as a new form of money and asset for investment (trading), the prospects for brand-new tokens largely depend on the characteristics of the projects to which they belong. The main value of LuckyBlock is that it is able to solve the key problems of centralized electronic lotteries:
- Lack of transparency. Most modern gambling games offered by online casino operators are something of a black box. Based on RNG algorithms, they generate game results randomly. Many electronic lotteries work in a similar manner, with a special computer algorithm determining which players will win prizes. Because only the developers know how the RNG works, it introduces an element of unpredictability and reduces confidence in the game results. Based on blockchain, a distributed ledger technology with immutable records that anyone can view, LuckyBlock is able to make electronic lotteries more transparent and fair.
- Long periods of time between draws of lotteries. Because many of today’s lotteries are held quite infrequently, entrants have to wait weeks and even months for an opportunity to try their luck. LuckyBlock is here to hold daily lotteries with large prize pools, where each participant has a good chance of winning.
- Slow payout times. For traditional lotteries, there can be a considerable time gap between the moment you know you’re the lucky winner and the moment the money arrives in your bank account. As for lotteries on the LuckyBlock platform, it’s an entirely different experience. Based on blockchain, a technology where lightning-fast transactions, LuckyBlock pays out prizes to winners of draws much faster.
- Inaccessibility in some countries and regions. Many electronic lotteries are still closed to players from certain countries. LuckyBlock is a lottery platform based on technology that gives equal rights and opportunities to everyone, no matter where in the world they are from.
In addition to solving the pressing problems of traditional electronic lotteries, LuckyBlock offers several important benefits stemming from the use of blockchain. Since the entire lottery gaming process takes place in a distributed ledger, which is decentralized in nature, all transactions take place without any intermediaries or third parties. Thus, the likelihood of mistakes in determining the results of draws and cash prize payouts is minimal. Finally, the blockchain is a database with immutable records protected by cryptographic algorithms, so the probability of unauthorized access in order to manipulate the game results is extremely low. So, LuckyBLock is a lottery platform providing maximum security with a low risk of losing your lottery ticket and lottery fraud. Moreover, it is a crypto project with LBlock native token offering great opportunities for those who want to invest in digital assets.
Importance of Decentralization for Electronic Lotteries
The main problem with traditional lotteries is that they are run by specific organizations, which means they are essentially centralized. LuckyBlock is a platform based on the Binance Smart Chain (BSC) blockchain network using the Proof-of-Stake (PoS) consensus mechanism. Designed as an alternative to the Proof-of-Work (used by the Bitcoin network), PoS provides much faster transaction execution and also consumes significantly less power. This means that LuckyBlock is built on a scalable and energy-efficient technology allowing to benefit from the use of smart contracts. Participants of LuckyBlock lotteries will feel like they are in a safe and secure environment, protected from any outside interference.
One of the key aspects of the LuckyBlock decentralized platform is LBlock, its native token. While many are interested in LBlock as an investment vehicle (which is why LBlock price prediction is such a popular Google query), the native token serves many purposes in the LuckyBlock ecosystem. First, it acts as money that a potential lottery entrant can use to pay for an e-ticket. Secondly, the LBlock is used to generate a prize pool. This means that the winner of the draw will receive their prize in the platform’s native tokens, not in fiat money. Every time someone buys LBlock tokens, 4% of the total amount of coins purchased will go into the lottery prize pool. By becoming a lottery platform token holder, you may also allocate a portion to form the prize pool for the daily jackpot drawing. However, you can also keep the coins in a crypto wallet and make a profit every time someone wins the daily draw. So, here are takeaways on how daily jackpots work:
- The daily jackpot is a pool made up of ticket purchase fees (4% transaction fee) and money transferred by token holders on a voluntary basis.
- The winner of the lottery does not receive all of the money held in the prize pool of the daily lottery. He/she will be awarded 70% of the prize fund.
- The rest of the prize pool goes to LuckyBlock ecosystem. For instance, 10% of the prize fund goes to charity. The project has already donated $5,000 to the British Red Cross and doesn’t intend to stop there. Another 10% of the prize fund is used to promote the project, i.e., for marketing purposes. Finally, the remaining 10% of the prize fund is distributed to token holders.
So, LBlock token holders benefit from their savings every day through jackpot drawings. The funds (10% of the prize pool) are distributed among the holders proportionally, depending on the number of coins stored in their crypto wallets. That’s why the creators called LuckyBlock a decentralized lottery platform where every participant wins.
NFT and LuckyBlock
That being said, LuckyBlock is a very promising e-lottery platform. However, Lucky Block is not just about daily jackpot draws where every participant wins. The project also offers Platinum Rollers Club (PRC), a collection of NFTs available on the Binance Smart Chain. NFT is an image of a lottery card with a unique number. By purchasing an NFT, you will not only get lifetime ownership rights, but you will also become the owner of a lifetime entry ticket to the NFT LuckyBlock lottery draws. Launched in mid-March 2022, PRC has caught the attention of many because having a PRC NFT entitles you to access NFT’s daily draws. Featuring 10,000 unique NFTs, PRC also offers 25 exclusive editions. Having this NFT on hand gives you access to the double jackpot draw.
LBlock Native Token
As mentioned above, the Lucky Block lottery platform has a native token called LBlock. It is a digital asset with a limited supply: 100 billion coins will be issued to the network as a whole. In order to maintain the value of the coin and gradually reduce the supply, 1% of the transaction amount is burned. It is used in the LuckyBlock ecosystem to buy lottery tickets and also to create a prize pool. What makes the platform special is its ability to generate passive income even without participating in lotteries. By simply purchasing some coins and storing them in your crypto wallet, you will profit from each daily jackpot drawing. You can purchase LBlock tokens either through the project’s dedicated exchange or through the decentralized crypto platform PancakeSwap.
How to Buy LBlock – Step-by-Step Guide
If you want to buy LBlock, the native token of a decentralized lottery platform, you can do so on PancakeSwap, a decentralized crypto platform. Keep in mind that the project has recently launched a so-called V2 token. Below we will explain what LBlock V2 is and how it differs from its V1 counterpart. Keep in mind that PancakeSwap offers a BNB/LBlock pair, so you need BNB coins to perform a transaction to buy the token on the decentralized platform. So, here’s what you need to do step by step:
- Go to Pancakeswap and connect your crypto wallet with BNB tokens. You can use Trust Wallet or any other wallet compatible with the crypto platform. Make sure you have some BNB tokens to make the purchase. Otherwise, buy BNB tokens first.
- To select LBlock tokens, you need to provide the contract address. You can find the contract address on the official Lucky Block project website.
- Now, specify how many BNB tokens you are willing to exchange for LBlock coins. The crypto platform will calculate the appropriate amount of LBlock coins at the current exchange rate.
- Check all the details you gave earlier and confirm your order. After confirmation, you will receive the coins almost instantly.
Now all you need to do is transfer LBlock tokens to your crypto wallet. Although tokens can be transferred automatically, in some cases it has to be done manually using the Lucky Block contract address.
What are LBlock V1 and V2?
Launched on 26 January 2022, LBlock V1 is a token based on BEP-20 (Binance Smart Chain). One of the problems the V1 token faces is a 12% sales tax. This is a rather high transaction fee that not all crypto investors are willing to pay. The second problem is that LBlock V1 is tied to a network developed by Binance, which makes it not the best option for some large crypto exchanges which don’t support a sales tax. To solve the problems, the creators of the project introduced the V2 token. Launched to the world on July 25, 2022, LBlock V2 uses the ERC-20 protocol belonging to the Ethereum network. The LuckyBlock project team provided an official explanation regarding the situation with the V2 token launch.
LBlock V2 with zero transaction fee has been introduced to ensure that the LuckyBlock native token is listed on centralized crypto platforms. Listed by MEXC and LBank, the V2 coin instantly soared in value. However, many V1 holders decided not to exchange their assets, losing the initial opportunity to exchange each V1 token for 0.94 V2 tokens. However, to ensure that tokens can be exchanged at any time, the creators of Lucky Block announced a BEP-ETH bridge that was launched on October 3, 2022. However, a day later, the value of the V2 token dropped significantly. Below we will give a history of token prices and make a Lucky Block crypto price prediction to give you an idea of whether LBlock is an investment vehicle worthy of your attention.
LBlock Price Prediction
With its idea to revolutionize electronic lotteries, an exciting roadmap and good growth potential, LBlock was promoted as one of the best new altcoins in the crypto space. Listed by PancakeSwap in January 2022, LBlock V1 provided excellent returns to initial investors as it began to grow in value rapidly. As of February 17, the token was priced at $0.009617 with a market capitalization of around $750 million, which was encouraging. However, this was followed by a gradual decline in the value of the token. Here are a few key news items about the project in the early stages of its life cycle that give an idea of how it developed from the launch to the market crash caused by the Russian military invasion of Ukraine and the ensuing negative political and economic developments in the world:
- Listed by Pancakeswap and LBank, LBlock became Reddit’s most popular cryptocurrency in February 2022. The main reason for the coin’s popularity is its extremely high growth rate in value.
- On February 14, 2022, the Lucky Block team announced a beta testing application of the platform scheduled for early March.
- In mid-February, the number of LBlock token holders reached 30,000. The project owes this growth rate to effective marketing campaigns using Twitter and Telegram social plugins. In addition, the developers reported that the decentralized lottery platform application could be launched on 21 March 2022.
- A new all-time high for the token price ($0.00835) on the LBank exchange was recorded in the middle.
- The Lucky Block lottery jackpot reached a value of $2.5 million.
All this news generated hype around the new crypto platform and fueled interest from crypto investors. However, faced with some of the problems described above, as well as a general downturn in the cryptocurrency market, LBlock began to gradually lose value. Trading at $0.002818 in May, the V1 token had dropped more than 2.5 times in value by mid-June. However, after the launch of token V2, the price of the original token began to rise rapidly again, reaching a value of $0.003214 at the end of August 2022. As of this writing, the V1 token is trading at $0.0002065, with the V2 token standing at $0.0002172 (price gradually declining).
Factors Affecting the Value of the Lucky Block Coin
Although LBlock is no longer showing incredible growth rates as it did in the early stages of the project’s life, it is still a very promising token. If you want to profit from token ownership and various crypto transactions, you should know how you can use LBlock V1 and V2 today. Firstly, you can participate in lottery drawings with a chance of winning 70% of the big prize pool. Secondly, you can get dividends from holding tokens in your crypto wallet. Third, you can engage in speculative trading, benefiting from the ever-changing price of LBlock, which is also a highly volatile digital asset by nature. However, before investing in the coin, you need to know what factors affect its value:
- Community support. Having amassed a large community of 30,000 holders in the first few months, the project has continued to attract both crypto enthusiasts and investors, as well as those wishing to participate in a new form of electronic lottery. At the time of this writing, Lucky Block is a large community with 47,000+ holders.
- Marketing efforts and media coverage. The rapid growth of the project has been encouraged by Dillian Whyte, one of the best heavyweight boxers in the world. In addition, Lucky Block has racked up huge followings on Twitter and Reddit and is launching massive marketing campaigns on Telegram to raise awareness of the decentralized lottery platform.
- Promising roadmap. After launching the lottery draws, the team behind Lucky Block isn’t going to stop there. To expand the number of crypto platforms supporting the native LuckyBlock token, an ERC-20-based V2 coin with zero transaction fees was launched in the summer of 2022. This allowed the token to be listed on some major centralized crypto exchanges.
The roadmap also includes detailed plans to launch Lucky Block exclusives, educational platforms, fundraising events, and a fund for innovation. All of these could ensure the long-term future of the lottery platform and its native tokens.
LBlock Price Prediction – How the Price Will Change in the Near Future
Before we move on to Lucky Block price predictions made by reputational crypto experts, we would like to remind you that any cryptocurrency is a highly volatile digital asset. This means that its value can change in the blink of an eye due to various factors. Moreover, most long-term forecasts of cryptocurrency prices are made using algorithms that do not take these factors into account. So, here are 4 predictions from various crypto organizations that are worthy of attention for anyone considering LBlock (V1 and V2) as an investment tool or an option for speculative trading:
- According to CryptoPredictions.com, the coin’s price could be around $0.002138 by the end of 2022, which is a very cautious prediction. In addition, experts have made an LBlock price prediction for 2025, according to which the value of the token could be $0.004.
- DigitalCoinPrice experts were more optimistic in their Lucky Block price prediction, believing that the price at the end of 2022 could exceed $0.004. However, they believe that there could be both declines and rises in the price in the coming years. Overall, the DigitalCoinPrice forecast looks as if the experts were guided solely by how the price of the digital asset has changed historically, without taking into account any other factors.
- PricePrediction specialists presented LBlock price prediction according to which the token price will grow almost linearly over the next few years, reaching $0.01 per coin by 2028.
- WalletInvestor was somewhat more pessimistic about the coin’s future value, with a prediction that the token’s price could drop to $0.000016 next year.
As mentioned above, most expert predictions are based on technical analysis. However, cryptocurrencies like Lucky Block are much more complicated than the price movement history on the chart. LuckyBlock is still a promising decentralized lottery platform that has the potential to change the face of the gambling industry beyond recognition. That means that LBlock may have a much higher potential than the experts mentioned above think. On the other hand, you need to keep an eye on the news of the project, paying special attention to how its roadmap is being implemented in order to make better investment decisions.
1. What is Lucky Block?
It is an innovative decentralized lottery platform using blockchain technology. Lucky Block was created to solve the problems of conventional electronic lotteries such as lack of transparency, delays in payouts and infrequent draws.
2. What is a decentralized lottery?
It is a form of gambling in which anyone from anywhere in the world can participate. As for Lucky Block, you need to purchase a Lucky Block token to take part in the daily jackpot draws.
3. What is the Lucky Block price prediction 2025?
Most experts agree that the price of the virtual asset will rise insignificantly during the next few years and could reach a value of about $0.0004. However, almost any Lucky Block price prediction 2025 does not take into account the influence of many different factors as it relies more on technical analysis results.
4. Is Lucky Block a good investment?
Launched in January 2022, LBclock is a young digital asset with a price that can change dramatically. That means it is impossible to say for sure whether it is a good investment or not. When making investment decisions, consider how the project develops and how closely it follows its roadmap.
5. What was LBlock’s maximum price?
The coin’s highest value was $0.009617, but that was in mid-February 2022. Since then, the token has not even come close to that value. However, after realizing the problems of the original token, the developers introduced the V2 coin, which has a much higher potential since it was listed on some centralized crypto exchanges.
6. What factors affect the value of LBock?
The price of the coin depends on how fast the crypto community grows, with the number of holders in particular, how effective the marketing campaigns are, and how the steps described in the roadmap are followed.