GEXAN Blockchain Lottery, A Place Where Everyone Is A Winner
One term which investing in cryptos has been associated with in the past and even by some up till now is GAMBLING. So it is really no surprise that the gambling industry is getting a facelift thanks to blockchain technology.
Capitalizing on the advantages DLT has to offers, an autonomous decentralized lottery platform has been launched. The platform which goes by the name, GEXAN Blockchain lottery plans to make playing lotteries fair and with a high level of participants’ gains, as well as to minimize losses receiving the prizes.
The global lottery industry, although a $300 billion dollar plus industry is still faced with several problems. One of the most pertinent of these problems is Lack of Trust and honesty.
Problems and solutions
Several question and doubt have been raised about the honesty of the prizes distribution, as well as the whole process of drawings. The question of whether the winner is truly chosen randomly is also common as well as.
Recently these problems have acclimatized mainly because it has become increasingly difficult to obtain any price for taking part in a lottery. Also, the high commission and taxation on winnings is another cause for concern.
These problems and many more are what the Gexan platform aims to solve making use of blockchain technology.
On the Gexan platform, all stages of the draws, including the purchase of tickets, random numbers generation, distribution of the fund prize, verification of the winners are based on the technology of the distributed register. Moreover, everything is built on the open source code, which will be published on Github.
The Gexan team already has plans in place to develop an ecosystem consisting of its own blockchain with masternode functions, hybrid POW+POS consensus algorithm, GEX coins, lottery platform, smart contracts, participant wallets, Fiat site gateways and mobile applications.
As a result of the above-listed feature, Gexan will have a significant edge over traditional online lotteries.
For example, using its own blockchain, funds movement of the platform will be transparent and tamper-proof. The smart contracts developed will also aid with regulating the lottery system, to ensure that no favoritism or plan work is in place. Winning Numbers becomes chosen as random as possible. Also, Costs for sales outlets, sta, distributors, printing, lottery ticket verification and more are reduced. As such the is more money to be shared by winners.
Another key advantage of the Gexan platform is that it allows winners to select their most favorable method of taxation depending on the crypto laws of their countries.
Types of Lotteries You Will Find On The Platform
The Promo Lottery
The promo lottery with large prizes in the form of BTC will be held a few weeks after the completion of the Presale stage.
To participate, a rather expensive stake will be required, but the good news is that the main prize will be drawn among the lottery participants 100%.
To win in this particular game, you need to “guess” the five main balls (choices are from 1 to 36) and another ball called the “Powerball”.
The minimum prize will be obtained if you guess the ball “Powerball” (values from 1 to 10). You just have to choose 5 numbers on the purchased ticket. The draw will take place every day, and the fall of balls with numbers in the system is calculated according to the random number generator.
This type of lottery usually has a guaranteed winner. All participants are required to send the desired number of tickets to the common pool, to the smart contract that records incoming transactions. After that, there is a “mixing” of all tickets and randomly the winners are determined.
The Main Advantages Of Investing In The Gexan Project
If you are still sceptical about investing in this project, here are some reason why the time to jump on is now:
- In cryptocurrency, the early birds are known to get the fattest worms. This simply means the highest possible ROI is only at the initial stage of the project.
- The system is protected against instability. The project already has an inbuilt” burning ” system for its native coin the GEX which contribute to the coin price stability.
- If a Soft cap of only 13.45 BTC is not reached all your investment will be refunded.
- Transparency: The project team is open, appropriate, has a lot of experience implementing the plans. The budget is calculated and well planned. The hard cap is just 117,5 BTC.
For those who play a lot of lottery games, you probably know how difficult winning actually is. With a platform like Gexan, your chances of winning skyrockets mainly because you are not gambling against the “house” everything is based on pure luck and randomness.