How to Build Blockchain Lottery: 10 Steps to Success
Lottery is a favorite entertainment of many people, which has no analogues either in popularity or in terms of profitability among gambling. On average, every second person in developed countries regularly participates in lotteries. In some countries, for example in Spain, this figure is even higher and can reach 80% of the total adult population. However, despite this popularity, this industry has a number of serious flaws that worry every player:
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Development from scratch. Starting a business from scratch or buying a franchise is a decision that depends solely on the entrepreneur and on what goals he sets for his company. In the first case, the development of a lottery platform will require a lot of time and effort and will cost much more. However, this approach will allow you to implement a unique solution, as well as allow you to retain full control over the development process and the product created, which is important if you intend to launch your franchise.
Franchise. Buying a ready solution, on the other hand, would be a good decision if you plan to start the lottery business quickly and for relatively little money, and you do not want to suffer from licensing. If you follow this path, make sure that the chosen franchise best suits the needs of your business. Call as many franchise providers as possible and conduct your research on their advantages and disadvantages.
White label lottery blockchain platform solutions provide:
Game session design. The traditional lottery looks quite simple: the player gets a ticket, where you need to select / specify several numbers, after which random numbers are selected using one of the RNG options. Online lottery can be just as simple, but not necessary. From it you can make an exciting game with vivid animation, imaginary rivals, and even a plot in the way that online slots made from a simple one-armed bandit.
Under the security of the lottery online platform is meant:
Design. One of the most important aspects of developing a platform for an online lottery, since the user's first impression depends on it and whether he agrees to play the lottery on your site. It is best to create a design with a focus on a specific target audience, because users have different and often conflicting tastes. For example, people 50 years and older prefer a simple and concise design, while millennials prefer bright colors and animation.
A cryptocurrency wallet is needed to accept bitcoins, ether, EOS and other virtual money from players and pay winnings to winners. It is best to use HD-wallet (hierarchically deterministic wallet), since it allows anonymizing cryptocurrency transactions and protects against loss of access to a crypto account when a key file is lost, broken or stolen. Armory, Electrum, BitGo, TREZOR and other popular hierarchically determined wallets.
Benefits of HD Wallets:
There are several ways to do this:
As an example, you can take the Kibo blockchain lottery, whose team agreed with Hosho (the leader in security of the blockchain) about auditing their smart contracts. The result of the Kibo check turned out to be generally satisfactory, but there were some non-critical errors in the code. If Kibo hadn’t hired Hosho, then most likely these errors would have remained in the code, which could have caused crashes or hacker attacks.
Advertising and promotion of the lottery on the Internet is pretty standard, except for some moments. As always, you allocate your target audience, see what resources it visits, what bloggers it reads and watches, and then use this information to promote your project.
The difference is that the lottery is a gamble, which means that:
People are attracted by the following things:
#1. Step 1: Development from scratch or franchise
#2. Step 2: Lottery Concept Development
#3. Step 3: Lottery License
#4. Step 4: Lottery Website Development
#5. Step 5: Develop HD Wallet
#6. Step 6: Developing Lottery Smart Contracts
#7. Step 7: Mobile Application Development
#8. Step 8: Testing the site, wallet, applications and smart contracts
#9. Step 9: Develop Marketing Strategy
#10. Step 10: Starting the blockchain lottery