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The Lottery Run on Blockchain

ETH93 is a lottery game running off the Ethereum blockchain.  Every day, a lottery is held, and a random number is generated to determine the winner.  The smart contract behind ETH93 is completely transparent, unlike other lotteries in which users have no idea what happens to their money.

The advantage of using blockchain is smart contracts can be verified on Etherscan.io, so others can see exactly what each contract does. Because blockchain is decentralized, there is no central server or website necessary, thus, no worry about downtime, and no effect on the lottery that runs every day.

How the Lottery Works

ETH93 (ETH93.com) runs once a day, with random number generation that picks the winner at the end of each lottery.  Basically a random number between 0 and the number of tickets purchased minus 1 determines the winner.  Random numbers are generated through Random.org, a site that has been around for nearly 20 years.  Ethereum is dispersed automatically.

ETH93 Lottery – Portion of Proceeds Donated to Charity

Most lotteries do not pay out 93%.  Also 5% distribution to an established charity and worthy cause helps improve the world.

Random numbers are generated through Random.org, a site that has been around for nearly 20 years.

Proceeds are distributed as follows:

  • 93% sent to the winner
  • 5% sent to a worthy charity
  • 1% sent to ETH93 token holders
  • 1% for the originators of ETH93

Currently, the organization that receives the 5% is Heifer International, founded in 1944 with the aim to reduce hunger and poverty.

The charity has helped over 15.5 million families in over 125 countries, with net assets of 100 million.

Heifer’s Ethereum donation address can be found at 0xD3F81260a44A1df7A7269CF66Abd9c7e4f8CdcD1, which is hardcoded in the lottery smart contract.

Cost

The cost to play is .01 Ether, and users can purchase an unlimited amount of tickets in each lottery, held daily.  The more people that participate, the higher the jackpot, but the lower your chance of winning.

Crowdsale

To raise more funds for the development and advertising of ETH93, the company is offering ETH93 tokens which give tokenholders up to 1% of all tickets sold in lotteries.

For more information, please see these links:

Contact: [email protected]
Twitter: http://twitter.com/ethereum93
Smart contract code: https://etherscan.io/address/0xd9916449771e72ac6f7ed15265f728ed9fb56c07#code

About Blockchain

A Blockchain is a public ledger database of digital currency transactions that have ever been executed in a particular digital currency network.  It is the protocol that digital currencies such as Bitcoin and Ethereum are built on top of.  It is constantly growing as ‘completed’ blocks are added to it with a new set of recordings.  The blocks are added to the blockchain in a linear, chronological order.

This fairly new type of ledger is helping to connect the world today in a way that was unforseen a decade ago.  Today, it enables companies looking to scale to do seamless transactions globally without the need of foreign exchange fees, fraud and security risks, and enables faster payments.

The Internet we use today is the Internet of information, and the blockchain is the Internet of value – the Internet is a communications protocol, while the other is a value exchange protocol.  Both share the same concept and success, that being the open protocol that everyone can innovate and build around.  If you go back to the 90s, it was hard to imagine how the Internet would impact our businesses.  Today, it has impacted almost all.  The blockchain today is like the Internet in the 90s and is said to be more substantial than the Internet and will impact the world around us much more.

If you wanted to innovate and finance your payments in any sector, there were really no open systems and many interested businesses were limited to their own geographical areas.  By having a baseline protocol that allows the world to build and innovate around finance, many things can now be done.

It’s cheap, fast and give instantaneous capability to transmit value as an alternative currency, but most importantly is a ledger so dependable, that it can go as far as governments to put their currency on the blockchain as well.

Ability to Transform the World

Think of the underlying protocol of the digital currency blockchain as the Internet in it’s early days.  The Internet was not as useful/valuable back then as it is today without applications like browsers, email clients, google, etc.  Today in 2015, the bitcoin blockchain is still in early stages and not as usable to us as consumers the same way as in the 90s, until Internet startups started building the infrastructure to make the Internet usable and now is a global household technology today, but is constantly growing at an even more rapid pace than the early Internet due to the technologies available today, and companies are investing millions and more every year to continuously build on it’s infrastructure.

Originally posted 2017-10-26 17:11:06. Republished by Blog Post Promoter

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