The blockchain industry has come a long way from only being associated with cryptocurrencies. It has evolved to a point where it is being used by businesses, non-profit organizations, medical institutions, and even in otherwise unconventional settings such as online gambling.
One such name that has been making the rounds with the unconventional side of blockchain is Bitplay Club.
The online lottery that ensures fair play!
An online blockchain based lottery, Bitplay Club aims to utilize blockchain technology to hold transparent, honest and fair lotteries for its players. By the usage of distributed ledger technology (DLT), the data management for entries and the process of drawing winning numbers gets to be tamper-proof, and the Bitplay Club team aims to use this fact to have more and more people join in the games.
While being technologically advanced regarding transparency and fair play, the lottery itself is very much similar to the classic method where players are required to guess the winning numbers. If their guess is correct and if their numbers match with the numbers drawn at the end of the lottery, then the jackpot they receive is no less than 4 Bitcoins (as of now).
Bitplay Club was launched on December 8, 2017, and at press time, has so far drawn 43 lotteries.
Describing the drawing process
The lottery by Bitplay Club is provably fair, which means that the process which it uses has been verified for fair play to all users.
Describing the lottery further, it uses an open source algorithm so that anyone who wants to take a look at the drawing numbers can do so to ensure transparency. The algorithm uses specific data, hashes, from random Bitcoin blocks and processes it to draw the numbers. This randomization of the process ensures that no one can influence it for an uncalled for advantage.
Anyone can play
To ensure that more and more users could participate, Bitplay Club has a very nominal fee for each entry, which is 0.0001 BTC that converts to around $1. Players are allowed to purchase and submit additional entries and set of numbers upon their discretion.
The process to start playing is simple as well. Once players have chosen their ticket numbers, they can move forward with the checkout process to process their payment by depositing Bitcoin to their Bitplay Club wallet.
The company also offers a “System Game” to its users, where they can select a few base numbers and then have the system generate possible combinations of those numbers. This particular play usually generates multiple tickets, which the users can then pay through Bitcoin as per the normal purchase process.
The company is developing further lotteries
In addition to its daily lottery which is garnering significant response so far, Bitplay Club is reportedly developing more games in order to facilitate every type of player.
The company aims to establish itself as one of the industry leaders through its innovative approach with blockchain technology. Since it has only been a month, it has a long way to go, but seeing such platforms flourish and be met with success is something that the cryptocurrency and blockchain community hopes to see so that there are more chances of innovative projects getting the exposure that they deserve.
Bitplay Club is not available to the residents of U. S. and Canada.