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Role of Blockchain in Online Lottery & Games (With Interesting Facts)


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 are completely centralized where the decisions are made by a central authority. Another disadvantage is that centralized systems require users to provide their personal details in order to gain access to the system. This makes the user data vulnerable and insecure.
Unfair Results: There are many known cases of fraud in lottery draws, where the operator draws in the favor or one or more people. Before now, there was no way to check whether a lottery result is fair or not.
A blockchain based lottery system can effectively resolve these issues providing users with a completely fair and transparent lottery experience.

Blockchain for Online Lotteries

Since blockchain is a digital system, it will be the most effective in the online space. However, that doesn’t mean that it cannot be used in physical lotteries.

Here’s how a blockchain-based lottery system like Airtoto works:

Blockchain at its core is a decentralized system with distributed transaction ledger. That means a blockchain system is not controlled by any single user, but all the users in the network, which makes it nearly impossible to modify any data in the networkwithout everyone knowing it. Also, the network automatically verifies each new transaction for origin and validation and then encrypts it to add to a decentralized ledger.
The best thing about the blockchain technology is that everything is public, including all the transactions, so all the users in the network know where money is going and how lottery results are being drawn. This removes any chance of fraud or manipulation with the results.
Since all the transactions, including bets and payouts, made on the blockchain are viewable to all users in the network, the technology literally guarantees fair lottery gaming.
Do you know About Airtoto?
Airtoto is a blockchain lottery which is already implementing the benefits of blockchain technology for improving the way lotteries are played around the world.
Good News For You: Airtoto Pre ICO Sale Is Live: Invest Now To Get Earlier Benefits (0.10$ + 20% Bonus). Read The whitepaper for the full understanding of the concept or join us on telegram for further discussions.

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