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.

Our top trading bots

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
Jim Cramer cashes out half his 'phoney money' Bitcoin to pay off mortgage
Business TV personality and converted Bitcoin proponent Jim Cramer has sold half of what he calls his “phoney money” Bitcoin portfolio to pay off his mortgage.During...
dHEDGE launches tokenized index tracking its top 10-ranked traders
Decentralized fund management platform dHEDGE has launched a tokenized index that tracks its top-ranked traders.An ERC-20 token will also be issued for...
CEO of biggest crypto exchange has ‘close to 100%’ of net worth in crypto
Changpeng Zhao, founder and CEO of the largest global cryptocurrency exchange Binance and one of the world’s top crypto billionaires, does not own much...
Pension funds and insurance firms alive to Bitcoin investment proposal
Life and annuity companies are increasingly dedicating part of their asset base to Bitcoin (BTC). While the top crypto has delivered the best returns over...
Digital ruble is ‘highest form of money’, Russian Bitcoin critic says
Anatoly Aksakov, chairman of the Russian State Duma Committee on Financial Markets, believes that the country’s not-yet-launched digital currency is the...
Cosmos launches Inter-Blockchain Communication to enable cross-chain DeFi
The self-described “Internet of blockchains,” Cosmos, has launched its Inter-Blockchain Communication standard, or IBC, enabling crypto assets to be transferred...
Ohio Will Start Accepting Bitcoin For Tax Payments, BTC Plunges Below $3,600
The American state of Ohio appears to be the first one where people can pay taxes in bitcoin. A recent Wall Street Journal report specifies, however, that...
Andreessen Horowitz Launches its First $300 Million Crypto-Fund
Andreessen Horowitz, a prime VC firm known for its dedication to cryptos, is going to rely on these assets again. The company is aggressively piling into...
New Crypto Hanacoin to Be Launched on June 12
As the world is expecting four countries – South Korea, North Korea, the US, and China – to fashion a peace agreement at their Singapore meeting, new crypto...
No Bitcoin Will Be Mined If Its Price’s Below $8,600, Morgan Stanley Warns
On Thursday, April 19, bitcoin traded at a rate slightly exceeding the margin of $8,200, as per Coindesk data. It is known that the price of each BTC...
Skychain Will Change The Ecosystem Of Neural Networks
Think about this figure: only in the EU and the US more than half a million patients a year die due to a misdiagnosed diagnosis and related complications...
ICO Sapien: Return of Freedom of Speech to the Internet
An autonomous platform is a hybrid of a news portal and social network, where high-quality content is encouraged by internal cryptocurrency, and moderation...
Back to Life: Market Goes Through Rehab With $12K Bitcoin and Ripple on Top
It looked like the end of the world, when bitcoin and its brethren started despairingly crashing down on January 16. No one expected such a massacre...
No More Bitcoin Deposits: Microsoft Changes Attitude On Cryptos
Not long ago Microsoft and bitcoin enthusiasts could enjoy the purchase of movies, games, and applications in Xbox and Windows stores. But it seems...
Binance Can Not Accept New User Registrations
Binance, the cryptocurrency exchange, said it temporarily suspends the registration of new users. Information about this was published on the site and...