Eth888 Launches Fair Lottery Games on the ETH Blockchain
The crypto startup ETH888 has created the most feasible and provably fair lottery games on the Ethereum blockchain where participants can play Status browser or Ethereum wallet enabled environment, with instant result generation.
At similar blockchain-based online casinos, it takes one block time – or even up to several minutes – to generate a random result. It is not only time-consuming for the players but it costs them more since the process requires significant gas consumption. The ETH888 team invested their time to research and to develop a breakthrough off-chain technology for instant random result generation that takes no more than 3 seconds, about 1/8 block time, and also saves at least 50 percent gas consumption. Beta game versions are already live in Ropsten testnet.
Based on 2017 stats, the online gambling industry’s value is standing near 51 billion USD. The team behind ETH888 strives to develop the most responsive decentralized lottery house with the highest possible transparency and reasonable House Edge. The house will be using VAN tokens for currency within the platform. 40 percent of the house profits will be distributed to the Vanil pool where VAN token holders can share a portion of the profits determined by the amount of tokens owned. The first game in the mainnet will be ready by the Q3 of 2018.
ETH888 is holding a VAN tokensale started on April 28, 2018 with a hardcap of 1,085,180 VAN tokens lasting for 4 weeks, with 4 offers against weeks, 400 / 300 / 200 / 100 VANs per Ether. Currently, 400 VANs / Ether offer will end on May 5 2018. According to ETH888, the token sale is essential to raise ETH capital for the team for backing game payouts.