Re: Lotto Nation - revolutionizing online lotteries with blockchain
Random Number Generation (RNG)
Since the advent of the large-scale lottery, many techniques have been invented to determine the winner in the most fair way possible. Today it is done through a Random Number Generation. The RNG is not effective way to ensure fair winner selections, its implemented by centralised organisations and has proven itself open to manipulation and tampering.
For example, In 2010, an employee of the US MultiState Lottery Association managed to install software that manipulated the random number generator. The wrongdoer managed to win a $14.3 million jackpot.
The smart contracts and blockchain technology provides a solution for the most crucial problems in the online gambling industry, such as rigged results!
By carrying out RNG protocols on a distributed ledger, the entire process can be made transparent and visible to all network participants. With integration of blockchain technology, inherent transparency can absolutely eliminate manipulation and create greater trust in lotteries.
Since the advent of the large-scale lottery, many techniques have been invented to determine the winner in the most fair way possible. Today it is done through a Random Number Generation. The RNG is not effective way to ensure fair winner selections, its implemented by centralised organisations and has proven itself open to manipulation and tampering.
For example, In 2010, an employee of the US MultiState Lottery Association managed to install software that manipulated the random number generator. The wrongdoer managed to win a $14.3 million jackpot.
The smart contracts and blockchain technology provides a solution for the most crucial problems in the online gambling industry, such as rigged results!
By carrying out RNG protocols on a distributed ledger, the entire process can be made transparent and visible to all network participants. With integration of blockchain technology, inherent transparency can absolutely eliminate manipulation and create greater trust in lotteries.