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Author Topic: What Is a Blockchain Lottery and How Does It Work?  (Read 518 times)

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Offline TSM.GlobalTopic starter

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What Is a Blockchain Lottery and How Does It Work?
« on: March 30, 2018, 08:09:23 AM »







Lotteries are one of the most common forms of gambling that people enjoy. It combines three unique features that makes it a gaming experience that is open to almost everyone.[/size]#1. It is highly affordable. The average price of a lottery ticket is about USD $2 throughout the world.#2. It is stackable. Because lottery tickets are so affordable, players can purchase multiple tickets with different number combinations to maximize their chances at winning.#3. It is transparent. Lotteries hold public draws to let everyone know simultaneously what the winning numbers will be. If players are unable to witness the live draw, they have access to previous draws that match the tickets they’ve purchased.MOS is pioneering a new form of blockchain lottery that meets these three key points. It is the only lottery of its type to take its numbers from a public resource: common stock market exchange closing values.Definition of a Blockchain LotteryIn the past, cryptocurrencies like Bitcoin encouraged a mining process. People would compete to become the first to add a block to the blockchain. A “winner” is chosen from competing miners, creating value.The winner collects the transaction fees within that block, motivating miners to collect as many transactions into a block as they can, thereby maximizing their reward.For the average person, this type of reward lottery takes time to learn. It requires computing resources they may not have. It can be confusing, complicated, and not much fun.We believe there is a better way. That is why we have redefined the blockchain lottery to make it more like the traditional gaming experience.Here’s How the MOS Stock Market Blockchain Lottery WorksThe MOS stock market lottery is managed by Ethereum smart contracts. Every operation, from player bets to jackpot management, is recorded on the blockchain. That process ensures there is a sufficient payout pool available before a bet would be accepted.Players then have multiple game options from which to choose. Payouts are dependent upon the game chosen. With the 1-digit game, the odds of winning are an expected 1 in 10. The two-digit came offers expected winning odds of 1 in 100.Once the preferred game is chosen, the player selects their numbers as they purchase their ticket with MOS tokens. The smart contract system ensures the jackpot pool can accept a payout before accepting the bet.Then, 30 minutes after the stock market closes, all transactions are posted to the Ethereum blockchain.After the closing, MOS retrieves the final indices of the stock market via APIs. The final two digits in the stock market indices from major exchanges are then used to form the winning numbers.This structure creates a playing atmosphere that is truly fair and transparent. It is for that reason the MOS stock market lottery appeals to casual players and crypto enthusiasts alike.With a secure platform, anonymous play, and complete transparency, come join the MOS community today. You will find the stock market lottery structure to be a whole lot of fun.TSM Global > Reach The Topwww.tsm.global office@tsm.globalAdd: 160 Kemp House, City RoadLondon EC1V 2NX, UKContact No: +1 (646) 416-9011[/size]
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Offline KiraMan

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Re: What Is a Blockchain Lottery and How Does It Work?
« Reply #1 on: April 24, 2018, 06:10:30 PM »
Blockchain technology is getting popular with the passage of time all across the world. Now you will find the platforms based upon the blockchain lottery which provides the high range of the customer's pool from different regions. Fire Lotto platform is an example of such lotteries which was launched in the January 2018.


 

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