FIRELOTTO - The World's Hottest Crypto Lottery

Hallo All Here I Will Explain What is FIRELOTTO..?

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INTRODUCTION

A lottery game built on the Ethereum blockchain will be a major innovation in the global

lottery industry. The lottery industry holds a 29% share of the global gambling revenue

[1], and is facing challenges due to the growth of the digital economy. Worldwide

demand for more transparent, fair services has grown concurrent with the advance of

technologies that enable the change. The distributed, decentralized nature of

blockchain technology offers tremendous opportunities for financial technology

innovation, and, similarly, for gaming industry modernization.

A gaming system built based on the use of the Ethereum blockchain would operate with

a high degree of autonomy, and its data and records would be cryptographically stored

in a public, decentralized blockchain. Available online and borderless, such a system

can resolve some challenges of traditional lotteries.

The proposed lottery will employ the random number generation (RNG) method, which

is secure and fair and prevents manipulation and fraud. This project implements a

completely secure RNG method based on the current version of the Bitcoin

decentralized protocol.

Challenges Faced by Lottery Industry

Blockchain technology can solve trust and fairness issues faced by the lottery industry.

As with all centralized services, lotteries have real and perceived trust issues. Some of

the most common lottery industry problems are described below.

Fairness

Ensuring fairness of the game remains the biggest challenge. Lottery players may

question the possibility of manipulation or fraud, e.g., several possible concerns:

 Are the ticket and lottery real?
Is the money really accumulated in one pool?
Is RNG truly random and secure?
 Is the jackpot winner real?
 Are the prizes paid on time?

The two famous cases of lottery manipulation described below illustrate the cause for

concern.

Hot Lotto fraud scandal

HOW THE BLOCK CHAIN ​​FIRE LOTTO WORKS

We have built a completely transparent and fully decentralized platform for organizing

and conducting a lottery using the blockchain technology and ETH smart contracts for

collecting and distributing funds, drawing winning numbers in a random fashion, and

paying lottery tickets sales commission to token holders.

The prize pool of the Fire Lotto Lottery is formed from 70% of the funds collected from

ticket sales. The minimum size of a guaranteed jackpot is fixed-1000 ETH (~ USD

1,000,000) for the 6/45 lottery. [*] If nobody wins the main prize in a drawing, it will be

rolled over to the next drawing and increased. The jackpot will keep growing until it

finds its winner.

There will be prize categories with a different prize depending on how accurately

the player predicts lottery numbers. All categories starting from 2 will be calculated as

percentages of the prize pool. If several winners win the jackpot in one drawing, it will

be split between them.

ROADMAP

TEAM

CONNECT WITH US

Website: https: //firelotto.io/

Whitepaper: https://firelotto.io/whitepaper_en.pdf

Facebook: https://facebook.com/firelotto 

Twitter: https://twitter.com/FireLottery 

Telegram: https://t.me/firelottery

Author: Demoltion

Profile: https://bitcointalk.org/index.php?action=profile;u=1785646

ETH: 0x62b0f6A288263DaFCD6F8831d06fa3586daBb0ab