ETH Lottery is the first decentralized and translucent lottery maintained by an Ethereum smart Contract. The team goals to make the whole lottery transparent so that it eradicates any third –party involving in the lottery process and management of funds. The tickets sold and results are accessible to the public which are recorded on the Ethereum blockchain without the interference of the third party.
The offline and online gambling market grows and develops every year. Lotteries are most popular forms of betting in the world. It is operated by the government and states in many countries. ETH Lottery is advancing next level lottery those clouts from Smart Contracts. These lotteries, winners, and payments are fully self – governing. ETH Lottery aims to become the largest decentralized international lottery in the world.
A smart contract is designed for each and every lottery that defines the prize, ticket prices and the minimum number of entries. The smart contracts directly execute payment to the lottery winner. Participants can buy tickets precisely from a lottery with ERC20 tokens. The winner is elected using an exclusive algorithm.