FIRE LOTTO Decentralized blockchain technology

Maret 21, 2018

FIRE LOTTO Decentralized blockchain technology

INTRODUCTION

A raffle game built on the Ethereal blockade will be a major innovation in the global lottery industry. The lottery industry has a 29% share of global gambling revenue and faces challenges due to the growth of the digital economy. The world's demand for more transparent and fairer services has evolved along with the technological advances that enabled such change. Distributed and decentralized technology blockchain technology offers tremendous opportunities for financial technology innovation, and also, for the modernization of the gaming industry.

A game system built on the use of the Ethereal blockade will operate with a high degree of autonomy, and its data and records are stored cryptographically in a decentralized public blockchain. Available online and seamlessly, such systems can overcome some of the traditional lottery challenges.

The proposed lottery will use a random number (RNG) method, which is safe and fair and prevents manipulation and fraud. This project applies a completely safe RNG method based on the current version of the Bitcoin decentralization protocol.

1. How many tokens will be sold and how will they be distributed?

2. How much do tokens cost?

During ICO, one token will be sold for USD 0.50. For participants in the bonus program, the minimum price per token is USD 0.40. During pre-ICO, one token will be sold for USD 0.35.

3. How much does a single token cost during a private sales round?

Token Fire Lotto will be offered at a price of 0.35 USD per token. For special requirements, please contact info@firelotto.com

4. Why do you need a closed loop?

Funds accumulated in the closed round will be used to generate a minimum prize of USD 1,150,000 * and finance an advertising campaign for ICO. * Funding prize fund:

How does everything work?

Fire Lotto is a transparent and decentralized platform based on intelligent block and contract technology to collect funds and select winners with the help of random number generators, as well as to bill commissions to all token holders.

70% of the proceeds from ticket sales go to prize fund. The minimum size of the jackpot for the "6 of 45" lottery is fixed and 3000 ETH. If no one can take the jackpot, then the amount will be transferred to the next sweepstakes and therefore increases and so until there is a winner.

Victory depends directly on the number of guesses and is calculated as a percentage of the prize pool. If the jackpot is won by several people, it will be divided into equal parts between all.

Advantages of Firelotto

- The minimum guarantee fund for the payment of prize money is about 1.1 million dollars;

- The maximum number of winnings in the future will reach several tens, or even hundreds of millions of dollars;

- Blocking technology ensures the impossibility of forging a lottery ticket, falsifying the number of winning tickets even to the platform maker. All this confirms the open source code;

- 70% of the total amount of ticket sales will be transferred to the prize fund;

- The winning distribution and payment procedures will be completely independent of anyone and transparent - this is governed by smart contracts;

- The entire Firelotto platform will be built on the basis of ETH blockchain. And this means that all parameters declared by developers will be confirmed in open source and accessible to anyone who wishes. Any independent check of the program code will confirm this;

- No country can prohibit taking part in this lottery. To participate in it, you only need a wallet for refilling, withdrawing and storing crypto currency, as well as access to the Internet to visit a private cabinet on platform location;

- The interface is so thought out that it would be possible to understand it in two clicks. The use of personal sites and cabinets is as easy and accurate as possible;

- After the platform launch, Android and iOS-based mobile apps will also be developed and launched;

- The price of a lottery ticket will always be one and unchanged - it costs $ 2;

- Each user of the system will be protected from any kind of cheating by intruders and creators, and complete anonymity will make the game process as comfortable as possible;

- Win any amount will be charged to the user's wallet instantly, regardless of the day of the week, vacation, or other factors;

- Decentralization ensures complete autonomy for players around the world. This will be there until there is an online lottery request;

"Not only players but platform token holders can be found here, which means the token owner will have an enduring source of income, and the platform's crypto currency will continue to grow, increasing the amount of investor capital on a regular basis;

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