Skip to main content

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.

Comments

Post a Comment

Popular posts from this blog

Is it safe to invest in Lottery-based ICOs?

As the craze and euphoria over bitcoin slowly but surely subside, more and more technology enthusiasts, developers and investors are coming to terms with the power and capabilities of its underlying technology Blockchain. As a result, there has been a steady drizzle of new and upcoming  ICO’s in the Blockchain universe with multiple real-world usages. While the ICO market keeps growing , it is pegged to influence an industry which for eternity has managed to keep itself untouched by the ever-evolving technology. The Lottery Industry despite the internet and digital age has managed to more or less retain its original form. This has its side effects too. And blockchain presents to the Lottery Industry a golden opportunity to shade its old clothes in return for new ones with the promise of long-desired characteristics like transparency, fairness and global exposure. But are ICO’s & Lottery a safe bet?. Well, this blog tries to answer exactly that. Lottery Industry: The Goo
Post a Comment
Read more

Why You Should Choose ERC20 Token Standard For An ICO?

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 ERC20 is a tok
Post a Comment
Read more

How did Airtoto become the most popular ICO of the year? (Why are Investors loving this)

Within only a few months of its launch, Airtoto has become the first choice of blockchain investors. The pre-sale of Airtoto tokens (ATT) began on December 15 and a big part of the target funding has already been achieved. It is like investors are truly loving this ICO and whatever it brings along. Let’s try to figure out why. The idea for the development of a comprehensive and highly secure online lottery based on the blockchain technology emerged in September last year. At the time, a number of similar projects were also running, however, almost all of this projects lacked one very crucial factor - support from the government . As you may already be aware of, most of the online lotteries are operating without any official licenses or authority by any government. This makes it difficult for lottery players to except fair pr ofits from such platforms. Airtoto, on the other hand, is a completely genuine and government-backed lottery system that has been licensed to provide
Post a Comment
Read more