Lotto is a Defi blockchain-based solution that combines the traditional elements of lotteries with the innovative power of cryptocurrency technology. Over time, the Lotto platform has secured its place in the list of available cryptocurrencies because it provides an avenue for its holders to enter into the lottery draw daily. Lotto is the first of its kind in existence as the first lottery token based on the Ethereum network’s native blockchain. The platform is equipped with a dedicated innovative technology that creates a daily lottery system that distributes a balance across the network. The network can achieve this level of functionality by its rebase technology which takes out a token from all the holders, gathers them in a pool and one lucky random participant gets to win it all. As such, all users are given the equal opportunity to make huge winnings out of the lotto without any discrimination.
Who are the Founders of Lotto (LOTTO)?
The Lotto coin platform is supported by a collection of vastly experienced individuals from different fields. Right from the network’s management up to its cyber security and its business development model is based on strategic planning that has been properly tailored to fit the needs of the platform.
The Lotto network was founded by tech enthusiast, Tyler Fallon. Fallon obtained his first degree from the University of Maryland in Tech Entrepreneurship. Later, he went on to further his studies by earning a degree in computer programming, as well as full-stack application development. Before founding Lotto, he worked in several fields including medicine, software development, and data analysis. Other members of the Lotto team include Ian Arden as the chief engineer of the network, Ty Smith as its marketing campaign manager, Jared Maldonado as the market campaign coordinator. Additionally, David Florio is in charge of content design & production, and Brandon Fallon, in charge of digital marketing.
What is Lotto (LOTTO) used for?
Unlike most of the other available cryptocurrencies, the Lotto coin provides a lottery service where participants on the network can randomly win large amounts of tokens from small amounts collated into a pool. The network bridges the gap between a blockchain gaming experience and traditional practice while maintaining the lottery’s critical process and values as central to the business model, together with a new level of opportunities, transparency, and accessibility of playing lottery from any part of the world.
Additionally, its native cryptocurrency token LOTTO can be used to execute transactions within the network and also holds value outside the platform. As such, it can be traded with other cryptocurrency pairs such as Theta and UNI to make a profit for participants that hold the tokens.
What Is the Unique Point of Lotto (LOTTO)?
Apart from being built under the specification stipulated by the Ethereum network, the Lotto platform is also the first truly completely decentralized cryptocurrency platform that is also a lottery system. The platform makes use of its lotto nature as a tool for the participants to earn from the network through a random mechanism. Thus, a tiny amount of the cryptocurrency is taken out of accounts of the users and drawn into a pool which is then gifted to one random user. This is not common in the blockchain industry and has drawn so many questions from blockchain enthusiasts all over the world.
The technology used by the Lotto network has proven to eliminate most of the major problems experienced by traditional lotto platforms. Now, all the participants can be involved and winning comes down to sharing luck on the side of the participants.
LOTTO is a representation of the next-generation lottery system that addresses the major problem of official, conventional and online gaming. The application of blockchain technology, as well as winning numbers from the actual draws of official lotteries, offer the integration of a practical approach to simplifying the online lottery model and fixing its defects by enabling fast, reliable, and disruptive technology access to players while cultivating a culture of trust to a damaged reputation of online lotteries.
How many Lotto (LOTTO) coins are in circulation?
In the early days of its creation, a total of 2,000,000,000 LOTTO tokens were released into circulation and the network also has a circulating supply of the same amount of tokens. The reason for these numbers being similar is because of its lottery system which automatically enters all holders of the coin into a raffle draw and takes a minuscule amount of their tokens. This way, there are constant transactions on the network, putting all the available tokens into circulation in the process.
Is the Lotto (LOTTO) Network secured?
The Lotto coin platform was designed on the Ethereum blockchain, as such, its security falls under the same concept as the Ethereum ecosystem. This implies that the Lotto Coin platform is secured by Ethereum’s dedicated proof of work consensus mechanism. The proof of work system facilitates consensus on the Ethereum ecosystem and connected platforms for decisions on matters like the order of transactions and account balances. By doing this, the native problem of double spending is completely avoided and this makes the network incredibly difficult to hack.
The mechanism also facilitates security on the platform through several protocols such as the large majority of nodes validating transactions before they are added to blocks. This same process is repeated for every transaction executed on the network making its systems next to impregnable.
How do I buy Lotto (LOTTO)?
The Lotto token provides a service that has never before been seen in the blockchain industry. It’s lottery technology that is capable of making the participants incredibly rich is one of its major advantages. Because of this, several people all over the world have adopted its cryptocurrency making it generally more mainstream. Now, LOTTO tokens are available across several exchanges and can be easily purchased by the following steps.
- Open an account with the crypto trading platform.
- Transfer the specific amount of your fiat currency to your account.
- Wait for your deposit to be confirmed and Buy LOTTO through your trading account.
Which Cryptocurrency Wallet Supports Lotto (LOTTO)?
The PTPWallet platform supports many cryptocurrencies simultaneously such as Lotto (LOTTO). Because of its vast use case, it has grown to become one of the most used platforms as it serves as an exchange and an engine to discover other cryptocurrencies. Additionally, users can easily use PTPWallet as their Lotto wallet because offers a simple and interactive interface making it easy for people to navigate its system.