How many times have you seen a person's life change after having won millions of dollars in a lottery and then feel envious? Well, here's your chance to be a winner of the world's first billion-dollar lottery. SmartBillions is the world's first fully decentralized lottery that is managed by an Ethereum smart contract where the jackpot is $2.5 billion. This is about to change the whole landscape of online lotteries and is worth trying your luck.
SMART CONTRACT ON ETHEREUM BLOCKCHAIN
It is managed by an Ethereum smart contract and is completely safe and transparent. Blockchain is an upcoming technology that is going to disrupt the whole digital market because of its safety and security. SmartBillions' smart contract is written on the Ethereum blockchain and it can't be hacked. The makers have so much confidence that they even conducted two hackathons to prove the security of the SmartBillions' contract and will ensure that there is no third party involvement.
HOW DOES IT WORK?
- Players have to choose 6 numbers between 0-15 which is recorded in hexadecimal as Ethereum hash and set their ticket value. The purchase is confirmed and waits for it to be included in an Ethereum block.
For example: 4, 15, 9, 5, 0, 13.
The block is accepted in block 409852
- The final result is the last 6 digits of the hash of the third following Ethereum block.
The draw result is the last 6 digits of block 4098565 hash, suppose 2f3b0d.
- The draw results are converted into the decimal format.
1st number: "2" = 2
2nd number: "f" = 15
3rd number: "3" = 3
4th number: "b" = 11
5th number: "0" = 0
6th number: "d" = 13
- After this, the players receive a payout based on how many numbers are matching with the jackpot.
There is no way the lottery result can be affected by a third party and if any changes are made to the blockchain, each user is notified about it.
WHY SMARTBILLIONS?
- Transparency
As mentioned above, being based on smart contract technology, it is decentralized and all transactions are public and 100% transparent. The results cannot be manipulated or influenced in any way whatsoever.
- Anonymity and ease of playing
Even if you are a new player, you do not need any registrations or deposits to place a bet. All you need is an Ethereum or Metamask wallet. Even for the lottery payout, you do not need to provide any sort of email confirmations or personal details. This safeguards the identity of the person and provides 100% anonymity.
- Ticket value and transaction cost
The value of the bet can be anywhere between 0,001 and 1 ETH and the maximum value of all tickets in one draw is set at % ETH for security reasons. Being based on smart contract, the transaction cost for placing a bet is a mere $0.03, the lowest of its sort.
- HOW IS IT BETTER THAN OTHER LOTTERIES?
Most of the lotteries these days are centralized and are not fool-proof and often come with high transaction costs. Also, the ticket number can get really complex like 1-69 and 1-26.
- Instant results and payouts
As compared to other offline and online lotteries where the whole process of buying a lottery ticket to the results can take as long as 30 days, SmartBillions' results appear just 60 seconds after placing your bet. It can't get any quicker than this. Also, the funds are immediately transferred to the Ethereum wallet which was used to place the bet.
- Expected win
It has the highest jackpot amount in the history of all lotteries, offline and online at a whopping $2.5 billion which can increase further based on the number of participants. Also, the odds of you winning the jackpot are higher compared to other famous lotteries. It has the highest jackpot payout which is 7000000 times the ticket cost.
- Small house edge
House edge is the difference between the true odds and the odds that the lottery company pays you when you win. The house edge for SmartBillions is set at 13.85%. This value is stated in the smart contract and can't be altered.
ICO
The token symbol is SMRT and 1ETH= 1000 SMRT. Crowdfund backers will receive 79.37% SMRT tokens and the remaining 20.63% will be allocated to the development team. Also, for every 100 SMRT tokens created for Crowdfund backers, 26 will be created for the development team. I think this is the first time something like this will take place.
SmartBillions aims to raise 200 000 ETH during the crowdsale. 90% of the funds raised will be allocated to the Jackpot. The remaining funds will be designated to marketing. SmartBillions SMART Token (SMRT) holders will receive a monthly dividend starting one month after the initial token offering closing date. The Estimated Annual Yield is over 30%. They are allowed to redeem Tokens any time after the SMART Tokens crowdsale closing date and reclaim most of the invested funds, even in the event of currently unpredictable issues.
The best feature is that an investor's potential loss can never exceed 28.57%. The value an investor will receive is calculated by this formula:
REVIEW
With the online gambling betting market growing, SmartBillions is more than likely to disrupt it because of its uniqueness and the jackpot value which is $2.5 billion. I also think SmartBillions is the safest and the most transparent lotteries out there. They conducted two hackathons to prove their security and this shows the confidence of the company in their product. I just want to know what would happen if two players chose the same numbers in the same sequence. Overall, their idea seems really unique and is a good opportunity for investors to invest money.
For more information visit:
Website : https://smartbillions.com