neonewstoday.com
For The Win (FTW), a project that allows users to build and participate in custom lotteries and raffles on the NEO blockchain, has released a new update and path forward for its NEP-5 Lottery Platform (NLP).
FTW describes the NLP on its website as “the first purely decentralized blockchain lottery that lets users operate and maintain the lottery over their earnings.” The team achieves a self-sufficient decentralized lottery through its smart contract, which splits the number draw and number verification process into separate games, each having their own incentives. Instead of automating the process, NLP relies on users to manually trigger the end of the lottery games.
Build-Your-Own-Lottery Platform Update
Following a February 4th MainNet release which enabled users to participate in lotteries and initiate raffles with custom prizes, FTW has released a new smart contract on TestNet. The new version allows anyone to create their own lotteries and is coupled with a UI for choosing the desired settings.
New custom options game creators control include:
- Total balls and range of numbers which determines winning odds
- Frequency of drawings
- Operation fee
- Ticket price (FTX)
- Ticket distribution
- Prize structure
The team also made adjustments to the system rewards. Users who would previously earn 5% of the ticket price for verifying entries will now earn 5% of the ticket prize. Further, restrictions have been lifted on who can trigger the drawing of numbers in a game. Previously limited to only game participants, now anybody can perform this task and receive 5% of ticket sales if their draw triggers the end of a game.
FTW is seeking users to help test its product, offering “some bounties” to participants who assist with testing the new NLP smart contract.
Looking Forward
Moving forward, FTW has noted the ability to embed games, create subdomains, and providing an open source, full-stack one page app for businesses to launch their own games as future development goals.
The full report can be found at the link below:
https://medium.com/ftw-blog/build-your-own-blockchain-lottery-c9f2949820cf0