Developers Of Firelotto Create A Transparent Public Blockchain Lottery

Developers Of Firelotto Create A Transparent Public Blockchain Lottery

Each of us played a lottery at least once in our life. The rules and organization are different for everyone, but most share a common feature: control over their honesty is almost impossible, the creators of the Firelotto lottery lot are sure.

Despite this, people in all parts of the world continue to experience good luck in the hope of multi-million dollar wins. The capitalization of the lottery business has been growing steadily and at the moment is more than $ 280 billion - and this is one-third of the world's gambling market. More than half of all sales of lottery tickets are in the US and Western Europe.

Technological innovations gradually change the appearance of lotteries, pushing back the purchase of tickets in the banks' cash desks and the mechanisms that throw balls with numbers, but the principle remained unchanged until in this segment of gambling they tried to apply blockchain technology.

The decentralized crypto-exchange platform has allowed to avoid state regulation and to achieve instant payments in case of a win, but questions of the random number generator, the ways of filling funds and investing are still relevant. The developers of the Firelotto lottery decided to try to answer their challenges.

This is a public lottery; it will work until you want to play it, and while it will be performed, the prize fund will be replenished. Any investor can become an investor. At the moment the project is at the stage of ICO

According to the creators of Firelotto, the initial fund will be made up of 30% of deductions from the sale of tokens. Then, at the launch stage, the ticket office will be filled at the expense of 70% of deductions from the collection from ticket sales, whose cost will be at the start traditional for most lotteries $ 2. Winners will receive their money in the Ethereum cryptocurrency.

As a "drawing machine" the platform will use the bitcoin blockchain, getting numbers from the unique code of the last extracted block of coins. According to the creators, the guaranteed and instant receipt of money in case of a win will be secured by a smart contract based on Ethereum, which can not be hacked or changed unilaterally. At the same time, no taxes and de-nomination of players. All you need for the game is a cryptocurrency wallet and the Internet.

Information Source: Firelotto