The Blockchain based Lottery: Is It Worth Playing?
For most of us who playing lotteries, you would agree that even if we could get rid of all the issues that caused corruption and scandals, the chance of hitting the jackpot is still not going to be great.
If this is not obviously enough, let’s take a look at an example here.
Assuming you bought both tickets of charity run football semi-final match and went to both of the venues, 2 of the largest stadiums in the world, one of them in Pyongyang North Korea and another in Michigan the US. Both stadiums were filled to its capacity — 114,000 and 110,601 respectively according to Wikipedia. As part of the price of your tickets, you were entitled to enter 2 different lotteries where you could win a BMW M3 in Pyongyang, and a Tesla Model 3 in Michigan.
In the Pyongyang stadium, your odds of winning are 1 in 114,000, the lottery is operated as how things runs in the North Korea, except the words you heard from the organizer, you don’t know how the balls are measured and tested to make sure they are truly equal, and you don’t know how these funds will be distributed to who and by what time.
In the Michigan stadium, your odds of winning are 1 in 110,601, the lottery is operated on the top of a blockchain like the Winchain OS, where rules are defined and regulated by decentralized master nodes election and self-executing smart contracts. Smart contracts were openly inspected and inspectable by everyone who would like to inspect them at any time. You know no one can predict or alter the results without the consent of the majority of the people in the stadium, and you know how your money (and others) is being pooled, how the number drawing is being randomized from unknown blocks, what percentage of the pool the organizer keep for themselves, and how the fund are distributed to which acceptor at what time.
So, giving the facts that all of us knowing that realistically the chance of winning is as small as the space of your seat comparing with the stadium’s, would you still be sitting on the edge of your seat in any of the stadiums as they’re reading the winning ticket number? And if the answer is yes, then apart from the preference between BMW M3 or Tesla Model 3, which one of the lotteries you are more likely to play with? And if you want to increase your odds, which one you are more willingly to buy more tickets?
What are your thoughts?
Find out more about WinChain OS
Website: http://www.winchainos.com/
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