- English name: Joker
- Abbreviation: XJK
- ICO: No
- Pre-Mine: No
- Description: Forked from Chia
- Block time: 18.75 seconds (same as Chia)
- Block reward: 20XJK (Chia: 2 XCH)
- Block allocation: 90% is allocated to miners, and 10% is allocated to the community
- Reward halving: About 1 years,
- Total issuance: No upper limit
- Need to Replot (Can’t use chia plots)
- Plot Size：K30 ,K31
- Project party Buy-back：YES ，Future plans
- Project party XJK destruction：YES ，Future plans
JOKER is a fork created by volunteers in the community using Chia code. As a completely decentralized, no reservation, no ICO, and community autonomy crypto currency, it can create a low-power, green and environmentally friendly block chain system with Chia™.
| YEAR | Reward | Total Coin | Height |
|---|---|---|---|
| First Year | 20 | 33,638,400 | 1,681,920 |
| Second Year | 10 | 16,819,200 | 3,363,840 |
| Third Year | 5 | 8,409,600 | 5,045,760 |
| Fourth year | 2.5 | 4,204,800 | 6,727,680 |
| five years and after | 1.25 | 2,102,400 | 8,409,600 |
Running a Joker Farm is similar to mining, but using hard drive storage space instead of processing power. During block creation a snapshot the network storage space is taken; Personal income is determined by the percentage of storage space a user contributes to the total storage space on the network. The more storage space you allocate to a Joker Farm, the greater your profit.
To start a Joker Farm it must be plotted, a process that requires a read and write to the allocated farm space. Once your hard disk is plotted, you may become a farmer and harvest it as long as you keep the proof. The initial plot process fills the farm space with random input proofs, reads the drives through direct access to the API, and then sorts them to quickly find the proofs obtained.
Joker uses the free disk space on the hard disk to run Proof-of-Space (PoSpace) and coordinate with another consensus algorithm, Proof of Time (PoTime) to verify the block chain. The income of Joker farmers is proportional to the amount of resource storage space; if you have 10 times the space, you will get 10 times the reward.
On the block chain of the Joker network, there is no upper limit to the total number of Joker coins that can be generated through farming rewards (farming), but block rewards will be reduced over time. A block is generated every 18.75 seconds, and each block rewards 20 XJK. Of this, 90% is allocated to miners, and 10% is allocated to the community. Halving of block rewards in 1 years, to a block reward of 1.25 XJK from the 5th year
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Chia officially reserves a large number of coins. The official developers of Chia coin reserve 21 Millions coins for their own use, which is unfair to everyone who participates in Chia. The 21 Millions coins officially reserved are equivalent to the total reward of all miners mining for 12 years straight.
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The problem of concentration of computing power caused by the large-scale mining pool of Chia coin. In order to prevent the participation of large mining pools from causing too low returns for retail investors, The problem that the community does not obtain block rewards.
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The problem that the community does not obtain block rewards. Currently in Chia’s model, only two groups of officials and miners can obtain block rewards: The official team who owns Chia by reserving 21 million coins, and miners who need to buy a lot of equipment and participate in mining to gain income. All those who have done publicity and promotion for Chia, have contributed, but will not receive any of the block rewards. This situation violates the spirit of community participation in fairness and openness. Joker will allocate 10% of the block rewards to people who contribute to the community, including but not limited to: Joker project developers, document writers and translators, and various social media promoters for Joker.
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The problem of chia forks. Chia has a number of forks, and now was more than 50. How did you properly assess your potential benefits? Does it make sense to make use about them? The truth is, the query sounds slightly fallacious, however that is solely for many who have studied the platform “inside and outside”. A lot of the Chia forks, in a way, are clones – they’re virtually full copies of Chia, apart from solely the brand and identify. Forks have similar supply codes, consequently – when farming on the premise of such forks, a further, however completely ineffective load is shaped – the plots on which customers farm Chia are suitable for every copied fork. So, customers farm some other forks with similar supply code free of charge. Farming in such a means doesn’t spend extra assets. This is because of the truth that all forks together with ChainGreen, and fashionable SpareCoin, and virtually all others, use plots which can be totally suitable with Chia. This farming happens in parallel with Chia, the unprofitability of which we mentioned above. Subsequently, the which means of those forks for customers is misplaced — the format of the plot should be distinctive. Anyway, you’ll be able to attempt to earn cash by selecting the fork you mine extra intelligently. let’s think about that any person nonetheless determined to strive Chia farming or Chives farming or Achi farming? Who will be capable to earn cash on this and is it doable? So as to earn cash on farming, you don’t want particular tools with particular traits. Even essentially the most common PC can address this job, all of it relies on the coin that the miner needs to “develop”. Chia has a low power consumption, positioning itself as essentially the most environmentally pleasant venture, compared with the chief of the market – Bitcoin. However even underneath these situations, with out having the dimensions of the “enterprise”, and with the fixed fall of the value of XCH\XCC\ACH, it’s virtually inconceivable to get some critical earnings by having a house farm. For strange guys who haven’t the chance to buy costly tools, it’s not simple to earn – the farming velocity is so low that some have to attend for a win-block for months, and that is at the price of Chia about $250. Utilizing swimming pools comes with its personal set of dangers and prices. Additionally, the quantity of disk house required for Chia farming continues to be rising. It’s time to confess that with out critical investments, it’s too late to mine Chia, and it’s rather more expedient to decide on one other fork for your self
Joker is also capable of any of the popularly available decentralized finance tools you find on other block chains today. One feature that enables this is the fact that coins can communicate with each other when they are spent. You can have market makers announce prices and have other coins utilize those prices in their own logic when they are spent. The natural interoperability that Joker provides is also relevant because it will allow participants to layer and leverage many different DeFi tools all at once! As a new generation of digital currency, Joker coin has the characteristics of security ,confidentiality , unique currency，It can effectively protect the security of our digital property. In the future, Joker coin will be mainly used as the circulating currency between popular game platforms. We expect to start planning, designing and developing our game platform by the end of 2022 and put it into use in 2023.Joker coin can be used in our various games