Airtoto: The World’s First Government-Backed and Fully Licensed Blockchain Lottery

Airtoto, which is the world’s first government-backed and licensed blockchain lottery, is presently conducting an ICO (initial coin offering) event to raise funds for the development of its online lottery platform. The popularity of the Airtoto ICO and its first-of-its-kind blockchain lottery system has increased a  curiosity amongst the leaders  in the industry who are wondering whether blockchain technology can actually solve problems of the traditional lottery and improve it for good. Let’s discuss. Issues of the traditional lottery industry If you are a frequent user of lotteries or any online/offline casino games, you may be aware of the various issues that  cripple this industry . Lack of transparency in lottery transactions, as well as payouts, is one of the major issues. Players have no way of knowing that the lottery draws are coming from a fair system or the winnings are being distributed honestly. Centralized systems : The present lottery systems ...

If you are a regular subscriber of the blockchain news or somehow a part of the industry, you may be familiar with terms like cryptocurrency, ICO and tokens. Another term that you must have heard a lot is ERC20. So what ERC20 actually is and why so many ICOs seem to be following this for their tokens. Let’s find out. What is ERC20? ERC20 or ERC 20 is a technical standard which contains  some rules and definitions  that any product following that standard must obey. ERC20 is primarily used by smart contracts and tokens that are built on the Ethereum blockchain. It stands for Ethereum Request for Comment – 20. So, the ERC20 standard contains a set of rules based on which new tokens are created by  developers of smart contracts . All these tokens have one thing in common – they all follow the same operating rules. A new token needs to fulfill certain terms and conditions in order to be considered as an ERC20 currency. Why ERC-20: Benefits and Features Ok, so ...