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I think lottery with blockchain transparency, hardly a new concept, and marketing is very important in this sector. Whitepaper needs more consideration of competition.
Well the whitepaper used to say
Quote
B-3. Problems of the existing blockchain lottery services
As for the conventional blockchain lottery services, they use bit coin and ethereum for their services. First of all, as for companies that use Bitcoin for their services, they manage the collected amount centrally through their own server that controls the amount of money due to the disadvantage of Bitcoin without smart contract function and distribute the prize money. This implies that they can manipulate the results at any time, or they can flee at night with the huge prize money.
As for Ethereum lottery services, you must pay an Ethereum gas fee. Ethereum has an Ethereum Gas (Gwei) that you have to pay to run smart contract codes in your structure. In the order of the higher amount to be paid for this gas, the miners have a system where they establish deals and must pay accordingly a kind of fee in addition to the Ethereum they must actually use. Although the lottery ticket amount includes fees, the user has to pay fees again. Currently Ethereum has a processing speed that can handle 100 transactions every 15 seconds. While Visa, a global credit card company, handles up to 25,000 transactions per second and Chinas Alipay handles up to 50,000 transactions per second, Ethereum has a far slower speed. If a user receives a large amount of money as a jackpot, no one knows how long it will take to receive the prize money.
As for the conventional blockchain lottery services, they use bit coin and ethereum for their services. First of all, as for companies that use Bitcoin for their services, they manage the collected amount centrally through their own server that controls the amount of money due to the disadvantage of Bitcoin without smart contract function and distribute the prize money. This implies that they can manipulate the results at any time, or they can flee at night with the huge prize money.
As for Ethereum lottery services, you must pay an Ethereum gas fee. Ethereum has an Ethereum Gas (Gwei) that you have to pay to run smart contract codes in your structure. In the order of the higher amount to be paid for this gas, the miners have a system where they establish deals and must pay accordingly a kind of fee in addition to the Ethereum they must actually use. Although the lottery ticket amount includes fees, the user has to pay fees again. Currently Ethereum has a processing speed that can handle 100 transactions every 15 seconds. While Visa, a global credit card company, handles up to 25,000 transactions per second and Chinas Alipay handles up to 50,000 transactions per second, Ethereum has a far slower speed. If a user receives a large amount of money as a jackpot, no one knows how long it will take to receive the prize money.
So now that it is on Ethereum nobody knows what it will be like.
