Loteo - A Decentralized Lottery Playing Platform

LOTEO is widely known to be a computerized lottery that is executed by means of code as opposed to being controlled by individuals. The lottery tends to draw a random Ethereum address from numerous users on weekly basis at first, and later on a daily basis. The draw will be founded randomly that will have a publically-perceptible code on the Ethereum Network and also on GitHub

LOTEO will make this type of betting open to more individuals. Also, it will address the issue of trust as it will be executed by means of a smart contract, the code of which will be publically-distinguishable on GitHub and also on Ethereum Network. Through a mix of universal reach, computerization and transparency, the aim of LOTEO is to become the business standard in the rising business sector for advanced lotteries.

With the coming of the advanced age, lotteries presently have the choice of being kept running as every computerized platform that rise above continental and national limits. More importantly, the rise of blockchain as a monetarily viable technology for organizations has made a fascinating new unique with regards to the historical advancement of lotteries.

How does the lottery work?

The users of LOTEO enter the lottery by obtaining single tickets for the LOTEO lottery, which is acquired every week, utilizing the Ethereum cryptocurrency, or through a third party merchant. Each Ethereum wallet address that has bought passage is then enrolled as a member in the LOTEO lottery. LOTEO will also later include a daily lottery governed by similar guidelines.

The weekly LOTEO lottery will be done through a smart contract that will use a guaranteed random number generator. The drawing pool will be executed by another smart contract, which comprises just of lottery tickets in view of the entrees’ Ethereum addresses, rather than random numbers. With this, every drawing tends to have a winner.

After the winner of the lottery is made known, a smart contract will send the prize consequently to the winner’s Ethereum address. All code will be freely obvious on GitHub just as on Etherscan. The prize will be split in the following manner:

The Problem in The Lottery Industry

You bought some tickets to win prizes. You do it repeatedly every week, month and year with a big hope to win at some point. But you never win, also you never saw any of your known people won such lottery. And probably you'll never see. The fact is, the organizers are manipulating the result to cheat peoples money. This traditional scam is happening everywhere. Just becasue of a low ticket price, people never care if they won or not, they don't even check what's happening. Scammers are taking this advantage, they know people won't do anything for their $1. But think again, millions of people purchasing multiple tickets of $1 in a scam lottery? That's a multi-million cheating scheme. It is time to change the scenario, let's see what's LOTEO brings us.

Introducing LOTEO

Loteo is a blockchain-based platform creating a transparent digital lottery system using smart contracts. It's aiming to bring back the fairness and trust in the industry. The platform will be powered by LOTES token which will be the primary method of payment fees and lottery winnings. LOTES is a security token is being sold only through a private STO sale, and it won't have any public sale. People who don't like to participate in the lottery but invest in Loteo project can purchase LOTES token. Holders of LOTES token will earn 20% of each lottery round prize pool. The LOTEO token has a governing function which means any significant change has to be achieved by consensus. Any token holder can propose a suggestion or voting.

How do the LOTEO works?

Unlike other lottery platform and online random winner selection service, LOTEO uses Ethereum addresses as winners so there must be a winner in every round. Other services often ended up without any winner and forward the prize for the next round which is relatively unfair. Loteo uses random winner generation service (RNG) but it picks a winner from the Ethereum address used to purchase lottery. After winning, an automatic smart algorithm will send the prize to the winning address. So, there is no chance of centralization or manipulation of the result. Here is how the prize will be distributed:

Making the lottery industry decentralized is really an innovative idea. Decentralized platform LOTEO is a very promising project that has already attracted investors attention. If you want to become part of a unique platform and get the opportunity to regularly fight for large prizes, then you should definitely consider the option with a decentralized LOTEO project.

Conclusively, Loteo is a new generation gaming platform that has been created to get rid flack of trust between developers and gamers, with the professionalism, experience and dedication of the set of team behind the project, then it is obvious that the project will succeed in creating a new standard in the gaming industry hereby making it a top-notch project, hence you shouldn’t miss out on this great platform.

For More Information :

Website: https://www.playloteo.com
Telegram: https://t.me/loteomission
Twitter: https://twitter.com/loteomission
Facebook: https://twitter.com/loteomission
Instagram: https://www.instagram.com/loteomission/
WhitePaper: https://www.playloteo.com/documents/loteo-wp-en.pdf

Author : thefroly
Wallet : 0x0F3100B2Bd2ABB80A49B16E5e234debbFeae2436