There is a new Bitcoin cash lottery where the BCH blockchain is used as an oracle to ensure truly demonstrable fairness in the game. The participants throw BCH into a pot, and if the last digits of the user's transaction ID match the hash of the target block, they win the jackpot.
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Bitcoin Cash Supporters have been discussing a new type of lottery system that uses the BCH chain to work transparently. The Nakamoto game was announced on March 6 and allows anyone to participate without registration. Basically, a user chooses to send a bet for 0.01 BCH or place multiple bets using the queryable QR code. The last alphanumeric digit of the transaction ID (TxID) that the user has generated by sending BCH is their lucky number. The system uses one block height every three days, which requires 400 blocks to find the winner of each round.
So far, there have been a lot of jackpots that have been awarded to random players, and users can see the distribution of rewards on the site. The jackpots can vary in size and the current price, which is rewarded in two days at a block high of 573,329, is approximately 1.92 BCH ($ 256). If the user's Lucky Number (TxID) matches the last alphanumeric digits in the hash of block 573, 3309, the user wins that round. If no lucky number is found within the hash block of the target block, the round is transferred to a new one. The creators of Nakamoto Game announced the lottery system on r / btc and the BCH community seems to like the idea.
"We built the world's first BCH-based lottery and it's live," said the creators of the Nakamoto lottery. "No registration is required and it is 100% fair – if the jackpot finds a winner, it will be paid out immediately."
Some believe that a transparent ledger can demonstrably create fair lotteries
After reaching block height and finding the lucky number, the winner receives 70 percent of the jackpot and 30 percent go to the next round "to attract more users and build larger jackpots." The business needs 1 percent per transaction to fund the transaction , In addition, multiple winners can win the bonus of the money and all winners can be checked in the chain. Yesterday, 10 winners won over 2.6 BCH, and the winning TxIDs were displayed on the website next to the Current Bets tab.
"33x Jackpot Congratulations", Nakamoto Game twittered, "We found 10 winners and the lucky number was 7. The winners are usually 70 percent of the pot and 30 percent go to the next round."
So far, the rewards piled up and the pot, which was distributed in front of the 33X jackpot at $ 450 Bitcoin cash in value. Gambling, gambling and lottery systems have been a popular pastime in society for thousands of years. Online lotteries and betting are very popular nowadays, but people are not sure if the games are really fair. Many believe that cryptocurrencies can demonstrably make such games fair due to the transparency associated with the distributed Bitcoin cash ledger.
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