Smart Contract Lotteries will blow up government run lotteries.
There will be an app for that. Expect many governments to try to
stop this. This is one amazing way blockchain + smart contract
will change things. Plus, I WON!
Lottery #0 (previous version)2.5 ETH with payout transaction 0xa426...4d69
Hi! This is crazy. I thought this was an interesting exploration
of the tech and wanted to support it and I wake up this morning to
find that I won. Life is crazy sometimes. I'm going to hodl, to
the moon y'all. Cheers.
Lottery #2 (previous version)2.5 ETH with payout transaction 0x2cd1...5e55
The deterministic nature of blockchains makes it difficult to
provide a secure source of randomness. Oracles can be one solution
to this, but depending on the exact setup usually require trust in
the integrity of the oracle. Other, more secure approaches tend to be
so complex as to make it hard to transparently demonstrate how a
specific result was reached. This lottery instead uses Bitcoin
blocks as a source of randomness. While they are not beyond the
reach of tampering, Bitcoin's longer block time and higher exchange
rate ensure more safety than a single Ethereum block would.
Furthermore, anyone can easily double-check the result using nothing
but a block explorer and some simple math. The smart contract accesses
this data via BTCRelay
and uses it to decide on the outcome of the lottery.