INTRODUCTION
The story about the blockchain is definitely everywhere due to the fact that it has been stirring up so many controversy the same way many things are now being put into place in so many sectors where it is adopted. People now see it as a technology that is worth adopting especially in the gaming Industry since it has caused so much improvement in other sectors. Now it's about time for players in the lottery system to have a change in from the old style of gaming to use a decentralised solution brought by LOTEO.
HOW THIS PROJECT IS USEFUL FOR LOTTERY
Loteo is a brilliant concept for lottery using decentralised solutions to foster the growth of the much esteemed industry. It has brought unique solutions to it and is able to cause the automation of the operations in the sector. It plans to put a stop to the way the activities in the industry is controlled by people because the team is aware of the manipulations that has been in existence in it. It plans to strengthen lottery as it infuses the ethereum platform into it for easy use of the ethereum wallets and addresses that users can depend on for protection and safety in use of token. Meanwhile, there is a higher percentage of token to be shared among winners and a smaller fraction to be shared to holders of the token.
Loteo gives users higher possibility of emerging as winners from there participation in games after they must have purchased the tickets with their token. A standard lottery system is by so doing established. The transparency of this platform makes betting sure because players are not betting on other players or some other purchased tickets but on just few participants.
THE ESSENTIAL FEATURES
- All transactions and the prizes won by any participants can be reviewed at any time by any of the user. This is termed transparency which of course is lacking in the traditional lottery system.
- All the activities are controlled by smartcontracts that are very compactible with the works, so this brings trust and full automation of the services.
- The online market for lottery becomes much more globalises even as the revenues generated are predicted to increase to about $10 billion in the next four years with the Loteo solutions.
THE OPERATIONS IN THE LOTTERY BUSINESS
First and foremost, all the users intending to participate will have to purchase their individual tickets which will make them valid players. The tickets can be purchased with the LOTES token of Loteo or with other ethereum tokens. After this, the users have to register their individual wallet addresses also tk get their weekly rewards or rewards from their winning of the lottery games. Other than the weekly lottery activities, a daily one will be introduced to follow the same style daily and to be supervised by smartcontracts. The rewards from any of the games drops directly into users wallet as the smartcontracts works automatically on the ethereum network. They will use special codes that will be presented publicly.
CONCLUSION
There is a way the prizes given gets divided in percentage such that 75% functions as the reward for winners in the lottery each time the game is played while the lower percentage of about 20% is given to those who have the LOTES token. This is given in different volumes to the holders considering the volume of the token they have. Some of the remaining small fraction is therefore given off to charity and also used for special programs that would be held in the community soon enough after the project has been launched.
USEFUL LINKS
Website: https://playloteo.com/
ANN Thread: https://bitcointalk.org/index.php?topic=5116114
Telegram: https://t.me/loteomission
Twitter: https://twitter.com/loteomission
Facebook: https://www.facebook.com/loteomission/
AUTHORS DETAILS
Bitcointalk username- Uju4real
Bitcointalk profile link- https://bitcointalk.org/index.php?action=profile;u=2202971