A new vision of blockchain: AIBC Summit 2021 finalist, this new French crypto project is making a big splash

Categories: Blockchain, NewsBy Published On: July 16, 20210 Comments

The Humble Luck Ball project proposes an innovative blockchain concept: the POE – Proof of Entry. Finalist of the AIBC Summit 2021, the French start-up wants to compete with established models and place the community at the heart of its model.

Tony Verschueren, ex-Tesla employee and current President of Humble Luck Ball, and his partner and CEO Julian Caille, are carrying out a complex project that required 3 years of research to reach the publication of the White Paper. They started from scratch, to rethink blockchain differently. Spotlight on our brilliant Frenchy!

Competing with POW and POS through POE!

The HLB team’s goal is to lay the groundwork for the Proof of Entry. This technology aims to overcome the major drawbacks of blockchains based on the Proof of Work and the Proof of Stake.

For both POW and POS, trusted third parties are remunerated by collecting a percentage of the transactions made on the network. The Proof of Work (Bitcoin) is however criticized for its high energy consumption. Protocols that work via Proof of Stake are considered to be too unequal: one must have a large number of tokens to become a validator.

Without the appropriate equipment and substantial funds to invest, it is almost impossible for newcomers to participate in the growth of a blockchain and achieve a considerable network effect.

With POE, Humble Luck Ball relies on an extremely simple blockchain system that is accessible to everyone. There is no need for computer equipment or funds to be stored. This new kind of mechanism is 100% community-based.

And for good reason, the individuals participating in the network all have a chance to win LBC tokens. Thanks to an election of the block reward, the distribution of the tokens is done without any financial discrimination.

The LBC, Luck Ball Coin, essence of the HLB project:

The economic system of the LBC token is an exception in the crypto landscape. Indeed, 0 tokens are reserved to the team, something rare enough to be noted. The team is counting on a massive participation to their 100% transparent ICO. This was followed by a listing on Uniswap on July 4th and the induction of a Testnet in August. Once this introduction to the protocol is established, the Mainnet should be launched in early September of this year.

The ICO is currently underway on the Ethereum blockchain:

  • 0 tokens have been pre-mined
  • 0 tokens are reserved for the team
  • 100% of the tokens will be distributed to the participants
  • Total max supply of 300,000,000 LBC
  • A Halving System

Although the initiative is launched on Ethereum, it is important to understand that the HLB team’s goal is first and foremost to build consensus. The ultimate goal of Humble Luck Ball is to become completely emancipated and create a 100% independent, transparent, and community-based blockchain.

The Humble Luck Ball project is still in its launch phase, but its ambitions are outrageous! Beyond the Humble Market, which should see the light of day as soon as the Mainnet phase is over, the POE model could well revolutionize the approach to social networks, but also provide dApps (decentralized applications) with new kinds of incentive mechanisms.

There are still some grey areas to be cleared and many challenges for these entrepreneurs who have chosen to stay in France. Our finalists at the AIBC Summit 2021 in Dubai have energy to spare, and can be reached directly on the Official HLB Telegram.

The CryptoPunks project, which was supposed to last a few days, is still going strong several months after its launch. These are small pixelated digital pictures of Punk. Several months after the beginning of the adventure, it is the most sold and the most exchanged NFT on these last 7 days. The global collection amount is 373,000,000 USD for 10,000 CryptoPunks, with an exchange volume of over 9,000,000 USD over the last 7 days.

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