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Firelotto – a Blockchain based lottery that puts the stage on Fire

Santhosh M



Lottery - Firelotto
Source: Flickr

Firelotto joins the long list of organizations utilizing and implementing the blockchain technology to innovative use. Firelotto uses the technology to conduct unbiased lottery made available to the public. The company has opened up for token sales and would be open till March end.

The company has a finished prototype and has already been launched. Firelotto feels they have an edge over others because as compared to many organizations that venture out into the market without even having a prototype, Firelotto has a completed product.

FLOT will be priced lower during pre-sales and the token holder will receive a commission from tickets sold from every drawing.

One of the obvious problems solved by Firelotto is the transparency cloud that looms over any lottery system and algorithm. It has been proven that all the algorithms are centralized and the owner owns the right to use the lottery pool but in Firelotto the algorithm is built on the Ethereum blockchain and uses a Bitcoin decentralized protocol to generate a secure Random Number. Moreover, the program code is available for inspection.

Romano Gonsalvez, a professional poker player from Goa spoke to AMBCrypto and says,

“I have seen many ICOs and blockchain companies coming up with ludicrous ideas and I generally stay away from them. Firelotto, on the other hand, seems different and promising, they unlike others have their tech ready and is not in the air. I think this will definitely be a hit especially with good tech backing that they have”

Firelotto feels that they have developed an easy to use customer interface so that services can be utilized by even people who have only basic computer skills. It has a one-click buying mechanism which saves time for the users.

All that a customer needs to do is just purchase a ticket which will cost them around 2 USD (approx). Then the lottery pool is formed and gets funded by the money people have invested in buying the tickets. The random number generates the winner’s number and the lottery prize money gets automatically transferred to the winner’s cryptocurrency wallet.

The company has rules and regulations framed for the campaigns and also offers 4 types of games that includes 4/20, 5/36, 6/45 and, Roger’s Wheel. The regulations will be made available to all the buyers by the start of March.

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Santhosh is a full-time reporter at AMBCrypto. He is an engineer with a major in Mathematics and Computer Science. He developed a key interest in the blockchain space and has been studying and researching about it ever since. He is currently authoring a book on Blockchain and its use cases in the Education domain. He currently does not hold any value in any cryptocurrency or its projects.

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