BEHIND THE SCENE OF THE BLOCKCHAIN LOTTERY — LOTEO AND ITS ARCHITECTURE
As you know, we have launched the testing of our blockchain based transparent lottery on the 1st of April and we encourage you definitely to test it here.
Furthermore, there was the first private drawing on Sunday and we are happy to announce the first winner of the prize of 1.5 Ethereum. Let us congratulate the winner!
LOTEO is growing every day with so many events happening.
Our advantage is that we are fully automated and transparent platform running on the blockchain and powered by smart contracts.
Hereby, we would like to explain you a little bit more how it works behind the scene of this article.
The crucial point of LOTEO lottery is the dashboard of web application. After you register, you can manage your account, your affiliates and view the dashboard.
The dashboard contains:
1. Wallet, where you can deposit and withdraw Ethereum, LOTES, LOTEU
2. Buying tickets functionality
- You can buy tickets by subtracting appropriate amount from your Ethereum balance in your wallet
- Alternatively, you can buy tickets by depositing to a particular Ethereum address.
- You can use any wallet of your choice.
After you buy tickets, you can decide to participate in the weekly lottery or daily lottery and other games in the future by entering the active week round. You can enter with as many lottery tickets as you want. Every new ticket doubles your chances of winning.
Moreover, you have an option to spend LOTEU tokens as a bonus on top of the ticket. Every 100 LOTEUs is doubling your chances of winning as well.
Lottery mechanism works in the following manner:
1. Tickets are gathered into a transparent smart contract pool for one week.
2. After the week period passes, we generate random number through our certified and audited oracle random number generator, which is used in the industry for a long time.
3. This random number is used for selection of random participant winner from the smart contract pool and the price (75% of the pool) is instantaneously transferred to ETH address from which the tickets were sent initially.
4. Remaining 25% are allocated like this: 1% to charity ETH address, 4% to affiliate partner of the winner, 20% to LOTES holders.
- Web application process — wallet, buying tickets, playing tickets, making an affiliate, receiving a prize
2. External Ethereum wallet — buying tickets, playing tickets, receiving a prize
3. Smart contracts functions
· Issuing tickets
· Pooling tickets
· RNG source
· Random selection from the pool
· Distributing the pool
· LOTES
· LOTEU
This was just a short overview and the best way how you can get familiarize with the platform is to sign up here and test it.
We hope you are going to enjoy our blockchain based lottery.
Our goal is to make gambling more ethical and fair with the new philosophy which connects gaming and gambling together.
Stay tuned for this since very soon we are releasing the moon of fortune game where you can multiple your LOTEU. Moreover the ten most active gamers as per the leaderboard will get the free ticket for the weekly drawing.
We all can be winners with the LOTEO blockchain revolution. Let’s build LOTEO together.
For more questions do not hesitate to contact us on the links mentioned below or read the official whitepaper.
For up-to-date information, subscribe here: https://www.playloteo.com
Follow our social media:
https://facebook.com/loteomission/
https://twitter.com/loteomission/
https://www.instagram.com/loteomission/
https://www.reddit.com/r/Loteo
https://www.linkedin.com/company/loteo-net/
Media Contact: info@playloteo.com
