TycheLoto is a platform that helps businesses, organizations, or individuals with capital associated with businesses with a community to open blockchain lottery tickets.
Lottery prizes are very diverse, can customize winning conditions, ticket prices, and commission rates for agents.
There are 4 main audiences that will participate in the platform including:
1. Representative organization to open lottery tickets
2. Agents selling lottery tickets
3. Lottery ticket buyers
4. Admin manages the platform, in charge of guiding, supporting how to use, and fixing errors that may occur.
A Lottery Prize will start with that Representative transferring a certain amount into a predefined smart contract that can only be drawn by the owner of the prize when the lottery round ends or closes. During the sale of lottery tickets time, the amount entered into the contract will be locked. At the end of the lotto spin process, the owner of the winning lottery tickets will check the ticket results directly on the smart contract and receive the prize anonymously.
All processes from opening lottery tickets, selling tickets, lotto spins are conducted entirely on the blockchain ensuring perfect transparency and fairness for all parties involved."
- CryptocurrencyA cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange using cryptography to secure the transactions and to control the creation of additional units of the currency. Cryptocurrencies are a subset of alternative currencies, or specifically of digital currencies.