Statistics show that the global online gambling market is dynamic and rapidly changing the traditional models. By the end of 2016, it reached $45.86 billion and is expected to reach $96.89 billion by the end of 2024.
The online gambling industry has its fair share of problems, misconduct and sketchy operations. Security issues where users’ identity was compromised, delayed winnings withdrawal and phantom transactions and commissions, extortionate fees, lack of full transparency with regards to the formation of the prize fund and all sorts of violations regarding prize fund distribution and.
Luckily, cryptocurrencies solves most of these problems and Ryfts leverages that technology to offer a better online gambling platform.
Ryfts is an anonymous raffle platform with an international magnitude that stirs clear from the conventional lottery systems. It implements a variety of refreshing and convenient game models opposed to only one fixed model that’s used by traditional lotteries. In this case, each player chooses the most appealing combination of odds, pool sizes, duration of betting odds and the final prize amounts.
Ryft’s goal is to become the most transparent and provably-fair blockchain raffle platform that belongs to the international community and excludes the intervention of any third party in its processes and prize distribution mechanisms through the use of a decentralized raffle system which uses Ethereum smart contracts, open source code and a decentralized engine for random number generation as the basis of all its core and external operations.
In this way, it a guarantee a raffle platform that neither any corporate state, nor a single authority, nor any member of the team can control or manipulate. Additionally, Ryfts strives to become the most trusted and successful raffle model in which the standard Players-Against-The-House model is entirely replaced with the more sincere, transparent and neutral model of Players-Against-Players.
Advantages Of Ryfts (RFT Token)
- Flexible Odds: They offer all players a generous degree of control over the odds they play against.
- Instant Payouts: All winnings are guaranteed to be paid out in ETH instantly after the game.
- Automatic Rewards: Frequent players are offered a ranking mechanism which can get them numerous free rolls.
- Guaranteed Privacy: Public verifiability is not required for the functioning of the system. You can stay anonymous.
- Decentralized: There is no one in control of the database. You can play from anywhere too.
- Transparent: Anyone can verify the correctness of the state of the system (bets and winnings). All code is publicly accessible.
- Secure: You are always in control of your funds. They can't be counterfeited by any party since no one owns the database.
Ryfts (RFT) Token Utility And Distribution
Ryfts tokens (RFT) will be utilized in any Ryfts models and for acquiring a special royalty ranking status. The maximum number of tokens in circulation will be 33 million out of which 90% will be available for crowd sale, 5% will be given to the Ryfts Team and 5% will be used in the Bounty program.
40% of the raised funds will be allocated for the reserve funds, 20% will be utilized in marketing and advertisements, 15% will go in product development, 15% in the infrastructure costs and 10% in daily operations and legal costs.
Raffle provides an online gaming platform for next generation. To learn more about the product or to participate in the ICO log on to https://ryfts.io/ .