Majority of the lotteries conducted across the globe have been controlled and governed by centralized government institutions. However, often there have been questions regarding the fairness of raffles and the lack of transparency involving the prize distribution process. TrueFlip is here to change the face of online lottery systems by using the game-changing decentralized blockchain technology at play.
TrueFlip is an anonymous blockchain-based lottery system which offers features like open source code, instant payouts, and transparent fund prize. TrueFlip is working towards revolutionizing the online gambling industry by embedding it with the latest blockchain technology wherein all the prize distribution and participation take place using virtual digital currency – Bitcoin.
With almost a year now having started the platform, TrueFilp has thousands of registered users on its platform and what makes it more attractive it that it allows all of its users in the decision-making process regarding future development. This ensures a lot of transparency and clarity for its users. Moreover, its attractive token distribution model disburses 10-15% of its profits generated from the sold tickets during each three-month period.
Earlier this year, TrueFlip has a successful crowdsale where it managed to raise 2000 BTC. Now the development team at TrueFlip aims to introduce major updates to the platform with a fully redesigned interface and some new additional features. The reworked TrueFlip will host multiple different games with a user-friendly interface and on-the-go integration of different options and new products. Moreover, users are also given an option to seamlessly switch between two games.
Flip Star – which is the flagship game on the platform involves daily draws with over 400 BTC in the Jackpot. Last month in November, TrueFlip launched another game named as “Rapid to the moon’ wherein the draws are tied to every new block in the BTC chain (every 5-15 min) and 15 BTC in the prize fund.For playing “Flip Star”, the prices of 1 ticket has been reduced by 50% to 0.0002 BTC.
TrueFlip has also made some important changes to the “Token Holder Profile” wherein it has reworked to deliver a complete data sheet in a more visually friendly and structured format.
Also, TrueFlip has also started to accept TFL token for gaming and now users can but a “Flip star” ticket for 1 TFL token while the price of one “Rapid to the moon” ticket is kept at 0.5 TFL. According to CoinMarketCap, TrueFlip (TFL) has a market cap of over $8 million with one TFL token trading at $1.33, currently at the press time.
While commenting on this new development, COO of True Flip, Nikita Parkhomenko said: “True Flip started as a game with a once-daily jackpot drawing and the average user spent about $5 per day on trueflip website.”
Users lacked real-time games that would drive additional ticket buying and raffle participation. We completely redesigned the platform, combining several game products in a user-friendly environment. This is a step forward to the “World of True Flip”, which is in development to gamify the entire system, offering users characters, levels, quests, experience points, bonus games and much more.”