Place/Date: - October 13th, 2017 at 8:55 am UTC · 4 min read
Source: Smart Billions
You may have convinced yourself that winning the lottery is an almost impossible thing.
You already believe that picking the right combination of numbers among the 38 on the
list requires the greatest amount of luck any person could ever have. Yes, that’s right.
You need luck in order to win. Even at that, there are a lot of lottery systems out there
promising to make you more money winning in the lottery every time. Any lottery system
that guarantees you of winning is a scam and you will just be wasting your money on
The creators of Smart Billions understood this as a problem which lead them to find the
best solution that will protect people from being scammed. At this point, many “how”
questions may be running through your mind. Well that’s what this write-up is for. In
order to achieve this, the creators of this revolutionized lottery system are leveraging the
new blockchain technology in collaboration with smart contracts.
In simple terms, The Blockchain is a distributed database, which utilizes the digital
ledger technology that stores transaction records, and shares them among a distributed
network of computers. By means of cryptography each participant of the network can
access and manage the ledger in a secure way. No central authority in this system is
needed. The blockchain maintains a continuously-growing list of records (blocks), each
containing a timestamp and a link to the previous one.
On the other hand, smart contract is a term used to describe computer program code
that is capable of facilitating, executing, and enforcing the negotiation or performance of
an agreement (i.e. contract) using blockchain technology. The entire process is
automated can act as a complement, or substitute, for legal contracts, where the terms
of the smart contract are recorded in a computer language as a set of instructions.
Smart Contracts are considered as the blockchain technology that will replace lawyers.
The working procedure of the conventional lottery system has always had the
involvement of a third party when it came to the parts where funds are processed. With
the decentralized nature of the blockchain technology, Smart Billions is independent of
all the restrictions that stops many people from winning what they deserve because it
provides an unlimited jackpot potential. As Smart Billions fully supports all the
fundamental blockchain values (decentralization, disintermediation, transparency,
security and freedom), there’s no room for greedy ICO’s business models having
fraudulent intentions by providing unfair fund and token distribution schemes.
One thing to note is that, Smart Billions isn’t a company. It’s a blockchain service that
employs the use of smart contracts for the sole aim of creating a transparent lottery
system and decentralizing that factor that has always stopped a lot of people from
winning their lotteries; fund distribution.
The Smart Billions team intends to launch an ICO to support the project by having
people invest in what seems to be the long-lasting solution to the lottery problem. This
ICO is set to begin on the 16 th of October, 2017 on the Smart Billions website with the
target of creating 252,000,000 SMART Tokens and reserving 200,000,000 and
52,000,000 for the ICO Backers and the development team respectively, after which it
will take off as a website using Ethereum. This however will make it possible for
individuals to play even with their mobile devices.
So far, the creators of the Smart Billions project have chosen to remain anonymous for
the time being.
The details of the Smart Billions token sale are as follows:
● Start Date: October 16, 2017
● Maximum Cap: 200,000 ETH
● Currency Accepted: ETH
● Token Exchange Rate: 1 ETH = 1000 SMART Tokens
● Max Transaction Amount: Unlimited
The benefit gotten by SMART Token Holders is that, they will be able to place an order for the dividend payout directly from their Ethereum wallet.
Smart Billions White Paper: https://www.smartbillions.com/docs/SmartBillions_Smartpaper.pdf
Smart Billions website: https://www.smartbillions.com/