LOTEO: A DIGITAL AGE LOTTERY BUILT ON THE DECENTRALIZED BLOCKCHAIN

The blockchain and cryptocurrency world continues to grow. With each passing day, large companies are making more efforts to adapt to this new technology. Amazon, Google, IBM, Starbucks, and finally Facebook, launched the Libra token, will start to use blockchain technology. With the coming of the bullish season, the price of Bitcoin is over $ 11,000 as of this writing. After a long winter of crypto, we can finally say that we have reached where we want. There is almost no obstacle to the spread of the blockchain and cryptocurrencies all over the world. It would not be wrong to say that with the rediscovery of money, states and banks were thrown out of the system and the technology of blockchain created a new revolution.

Blockchain technology has undoubtedly created many business opportunities. Graphic designers, developers, content producers, marketers, executives and much more. But so far, blockchain technology has focused on products in general. These products came to life in later stages and began to be traded in the market.

INTRODUCING LOTEO

Loteo is a digital age lottery with an automated execution process. This lottery is operated through code and not my man. This lottery is carried through the generation of a random number which will have a code that viewers will use to follow the random number generation on Github and Ethereum network. 75 percent of the pool prize will be sent to the ethereum wallet of all the winners.

ISSUES BEHIND THE GROWTH AND PARTICIPATION IN THIS GAME

There many problems affecting the involvement of people in this game and this has tremendously streamlined the growth of the game.

Manipulations Of Pool Results
There is a high degree of manipulation in the lottery exercise. Though the lottery organizer claims to thoroughly scrutinize the winning process, still there is manipulation which is majorly against the participants.
As a result of the centralization process of this lottery, the organizers carry virtually all the power which he can decide to abuse at any time since the lottery is run behind the camera.

Huge Profit On The Part Of The Organizer
Those lotteries which are transparent and free from manipulations covet a very huge amount of the gambling prize. Most of this lotteries claim a profit that is not less than 50 percent of the ticket sold leaving winners with the remaining 50 percent.

ADOPTED PROCEDURE THAT SOLVES THE ABOVE CHALLENGES
For those identified shortcomings not to affect the advancement of loteo thereby bringing it out of peers and equals, the following measures are put in place;

Smart Contract
The loteo lottery is built with complete automation. The transparency of this lotteries is provided with the use of this smart contract. The chances of its users cannot be compared to the of any conventional lotteries.

Winning Chances
In Loteo lottery, your betting is between you and those who purchased lottery tickets. With the help of the blockchain system adopted by loteo, it is possible for you to track and monitor all transactions giving every lottery participant an equal chance of winning. Winners are announced and rewarded at the end of all draws but for the Conventional lottery, winners are award yearly and the participant does not know the number of people they are playing with.
*Trust
The Loteo has unlimited trust due to the fact that the game is a decentralized one. It is neither monitored by a government nor any private person but the smart contract.

REWARD PROCEDURES OF LOTEO

The Loteo draw will be conducted on both a monthly and weekly basis. The crypto and amount generated from the ticket sold is the source of reward for the participant. The lucky winner at the end of each of the draw will have 75 percent of the revenue generated (crypto and money) from the sales of the ticket, 20 percent is to the token holder, 4 percent for affiliate and the remaining 1 percent goes to the charity.
Dear gambler, though you have been playing lotteries with slim chances of winning due to circumstance around the game. However, I now present to you, a game where all can win. Utilize this opportunity and see what it takes to partake in a transparent lottery.

ROADMAP:

TEAM


Like I said earlier, Loteo is a revolutionary cutting edge digital lottery backed by blockchain to bring new rewarding processes to the ecosystem

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Website: https://playloteo.com/ ANN Thread: https://bitcointalk.org/index.php?topic=5116114 Telegram: https://t.me/loteomission Twitter: https://twitter.com/loteomission Facebook: https://www.facebook.com/loteomission/ Whitepaper: https://www.playloteo.com/documents/loteo-wp-en.pdf Instagram: https://www.instagram.com/loteomission/ Linkedin: https://www.linkedin.com/company/loteo-net Reddit: https://www.reddit.com/r/Loteo/ Github: https://github.com/playloteo YouTube: https://www.youtube.com/channel/UCveQW_4wrc-ZYCo0sac6exQ

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