THE ADVANTAGE OF LOTEO THAN ANOTHER LOTTERY GAMBLING
Loteo is a kind of lottery platform to integrate with smart contract and blockchain. It will create the transparency of the lottery. This is the chance of the user to make a comparison between Loteo and usual lottery. Many problems in gambling platform like complicated regulation, unsophisticated design and many more.
By using Loteo, you should understand why the Loteo platform is recommended to use.
a. All prize and user transaction are very transparent and available to review in the blockchain every time
b. In the usual lottery game, the user does not know the draw number, but Loteo only gives the user purchase tickets and a number of several time smaller than a number of win combination. By integrating with blockchain, the system is transparent. So, the user can track it whenever they want
c. Smart contract system makes Loteo drawing process automatics
HOW LOTEO WORKS?
The user register in the Loteo with buy tickets from Loteo week using ETH cryptocurrency. Every Ethereum registered as a participant. After that, Loteo added a lottery every day with the same rule. In every week, lottery executes in a smart contract. It opened in the RNG (random number generation). The draws created by other lottery tickets based on Ethereum. All kind of drawing has a winner. The smart contract sends prize automatically to Ethereum wallet. The prize divided into some ways, one percent to the charity of Loteo community. Seventy-five percent for the winner. Twenty percent for the owner and the rest is purchase tickets of the user.
The user signs up to payment system in their Ethereum that already included in the lottery tickets. They will be able to look at all transactions in the blockchain every time. This payment system is a common way in all blockchain platform. Next, the payment will integrate with another cryptocurrency. This is a very simple and friendly payment system. The team of Loteo wants to make additional payment system for other cryptocurrency and accept some fiat currency like dollars. The option for payment will be able in the mobile transfer. Loteo has the purpose to promote and sale Loteo as a platform as many as possible.
TOKEN IN LOTEO
In the Loteo, there are two kinds of token namely LOTEU (Loteo Utilities Token) and LOTES (Loteo Security Token. The utility token is for marketing purpose while the security token is to sold in a private funding round. So, there will be no public sale in the security token. Lotes is kept for 15 months. In that time, the user cannot sell or buy it. The user has double chance to win after buy 100 utility token.
Actually, there are three kinds of the consumer in Loteo. The first is retention, the second is awareness, and the last is conversion. For retention, it means that the consumer that has reason to come back using Loteo. For the awareness is the right people after hearing information about Loteo and the third is conversion which wants to try Loteo. So, which one is you? Just try to play your lottery in the Loteo.
Thank You for Reading My Article About Loteo
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Name: Ridwan.P
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