Lotto coin is a Defi blockchain-based solution that combines the traditional elements of lotteries with the innovative power of cryptocurrency technology. Over time, the Lotto coin has secured its place in the list of available cryptocurrencies because it provides an avenue for its holders to enter into the lottery draw on a daily basis. 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 LottoCoin (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 platform also supports vast diversity and has more than 60% of its team as women. Lotto coin was founded by Dr. Amjad Pirotti and Amir Roknifard.
Apart from being a published author, Dr. Amjad is also well experienced across several industries and has a track record of working with a series of organizations. He is well respected in the blockchain industry and has developed a collection of master’s degree programs in blockchain and IoT for many higher institutions. Amir Roknifarf on the other hand specialized in cybersecurity consultancy with many years of experience in executive services in several companies. In the Lotto coin team, his well-grounded knowledge of cryptography and cybersecurity is an undeniable asset for the team.
Other members of the team include Maria Sueiro Lopez as the Head of Business Development, Riham Hafiz as the Marketing Strategist, Maria Cecilia Sierra as the Legal Advisor, and Jennifer Bourke as the Digital Marketing.
What is LottoCoin (LOTTO) used for?
Unlike most of the other available cryptocurrencies, the Lotto coin provides a raffle draw 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 LottoCoin (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 LottoCoin (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 LottoCoin (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 LottoCoin (LOTTO)?
The Lotto token offers a service never before seen in the blockchain industry. Its lottery system has the potential to make participants enormously wealthy. As a result, many people all across the world have adopted its cryptocurrency, making it more widespread in general. LOTTO tokens are now accessible on multiple exchanges and may be simply purchased by following the procedures below.
* 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 LottoCoin (LOTTO)?
The PTPWallet platform supports many cryptocurrencies simultaneously such as LottoCoin (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 it offers a simple and interactive interface making it easy for people to navigate its system.