Whereas lottery does use some of the most sophisticated digital technology, they hardly succeeded in winning the trust of the players when it comes to openness and fairness of their games. However, the invention of looters on the blockchain is proving an excellent solution to tackle the challenge within the lottery industry. The concept is no longer a dream but a possibility to have a fully decentralized, verifiable and transparent system for the players.
In the past, the use of a single entity model in our lottery and gambling games maximizes the possibility of collusion and manipulation that taints most betting houses and lotteries. As such the need for transparency was continually growing, and now we have the “provably fair” concepts that the blockchain and in particular Ethereum is offering. One such venture is eWin and today we get to learn more about this blockchain lottery.
What Is eWin Ethereum Lottery?
EWin is an Ethereum-based blockchain lottery on course to disrupt the lottery industry with their highly progressive jackpots games and lotteries that work through smart contracts. As of now, the project is set to raise funds for the development of the genuinely transparent lottery with the ongoing pre-sale an indication of their goals.Ewin's use of Ethereum blockchain will ensure the lottery tickets have full protection from forgery or manipulation with payout coming in the form of eWin tokens (EWIN).
Users will need no registration as one will only have to send Ether to the games' designated address with enough gas fees to become eligible for a ticket. Next stage will include picking the random card and wait for the draw to happen. If you are lucky, you get o receive your winnings in real-time as the payout system is automatic.
eWin Ethereum Lottery Games
eWin plans to entertain their users with two sets of games. These are:
These will include live and working lottery games with three stakes, and a price of five tickets per round. Furthermore, there is a demo for those who want to try it out although it won't have the full features.
The progressive jackpots will have multiple stakes with each round rolling over to the next increasing the prize money until the last round. However, each round will have its winner with some of the prize pool winnings going to funding beck the progressive jackpot. That means the winner only takes 70% of the prize win.
eWin Ethereum Lottery Smart Contract System Token Benefits
Although eWin is yet to officially launch the project has taken the liberty to list how their lottery players could gain and overcome the challenges of our traditional lottery systems. Here's an overview of what one can benefit
- Anonymity- no need to register an account as the ticket acts as your wallet upon winning.
- Voting rights- token holders get to vote on matters regarding the lottery platform ranging from fees, promotions and more.
- A share of the game revenue- investors will get an annual distribution of the gaming profits made for eWin. The revenue distribution will have the token holders taking 50% of the share with a further 20% and 30% going to development and the research team respectively.
eWin Ethereum Lottery Red Flags
- No details of the development team
- The project is more focused on promotion rather than their commodity with the ridiculous bonuses and promotions
- There are no source codes on their progressive jackpots games which is essential for every blockchain gambling venture.
- A minimum investment 10k EWIN tokens for one to become eligible
- Sending Ether to a particular wallet is a huge point of concern as it often indicates a scam.
eWin Ethereum Lottery EWIN ICO Details
The eWin tokensale is live now. You can invest in their ICO using Ethereum.
- Presale (Pre ICO): 1 ETH = 1000 EWIN (+ 100% BONUS)
- Round 1: 1 ETH = 1000 EWIN (+ 80% BONUS)
- Round 2: 1 ETH = 1000 EWIN (+ 60% BONUS)
- Round 3: 1 ETH = 1000 EWIN (+ 40% BONUS)
- Round 4: 1 ETH = 1000 EWIN (NO BONUS)
- Total Max Token Supply: 10,000,000 EWIN
- ICO Token Supply: 6,000,000 EWIN
- Bounty Token Supply: 1,000,000 EWIN
- Development Team Token Supply: 3,000,000 EWIN