The technology of blockchain is being adopted in almost all the industries today and Fire Lotto is the latest entrant in the blockchain market. Launched on 1st January 2018, it is the world’s first blockchain based lottery platform. Being blockchain based, here simply means that even the customers who live in the regions where the lottery is banned can be a part of Fire Lotto.
More about Fire Lotto
As said Fire Lotto is the world’s first decentralized blockchain based lottery platform. The platform is constructed on Ethereum (ETH) smart contracts and thus is completely transparent and free of any kind of fraud that may happen with physical lottery systems. This is a great leap towards the modernization of the gaming industry.
With blockchain being a part of the lottery it will be made sure that the winners are paid immediately after the draw directly to their ETH wallets. Also, the platform ensures that 70% of the ticket sale goes to the jackpot.
As of now, Fire Lotto includes the following lottery games including 4/20, 5/36, 6/45 and Roger’s Wheel. Depending on the customer’s response and the platform’s popularity new lottery games will be introduced soon. The ticket for the lottery will cost $2 per user.
There is no application as such for the lottery. The interested players can access the platform over any device without the need of any application for the same. The players can join the lottery either by participating in Pre-ICO or as a participant in the lottery. The pre-ICO is going on scheduled to end on 15th January 2018. The main ICO will start on 15th March 2018 and end by 15th April 2018.
The tokens for the lottery are named as FLOT and the platform pays 10% commission to the token holders. As the number of operations grows over the platform the prize pool will grow along with it. An RNG or Random Number Generator protocol will be employed on Fire Lotto which is fully safe, secure, reliable and free from any kind of fraudulent activity. The RNG Method is based on the existing version of bitcoin decentralized platform so there is no possibility that the winning numbers can be manipulated or the lottery tickets can be faked. Also, the possibility of system abuse is not even in question as Fire Lotto is completely anonymous.
A user, upon entering the Fire Lotto platform, can purchase an infinite number of lottery tickets with a number on each. Payments for the lottery tickets are made through one click directly from the ETH wallet. Since the system is completely anonymous the player from any part of the world, whether the lottery is legal in that part or not, one can participate in Fire Lotto without any kind of worries. Also, a big benefit of the Fire Lotto is there is no tax or hidden charges on the jackpot.
Since the lottery is decentralized and owned by the community of users over the internet, there is no chance that it can be banned. All what the user requires is an internet access and a cryptocurrency wallet. There is also a referral program under which the investors will earn 15% cash back for every ticket that is sold.
Learn more about Fire Lotto on the official website