DApps that Pay: EOSHash & the new Lottery (+ Bonus for Steemians)
DApps that pay is a series of articles that explores blockchain-enabled applications that pay dividends to their token holders. Contrary to the claims of mass media, blockchain-enabled businesses do make money.
Every year, tens of billions of dollars flow through lottery systems even though conventional lotteries have a large house edge as a large portion of the funds collected by the lottery are retained by the organizer. Lotteries are extremely popular but they are poorly governed, involve large commissions, and are, usually, not provably fair.
Blockchain technology provides a means with which lotteries can be held in a provably fair environment and the retained funds can be brought to a minimum as on-chain transactions make the operations of a lottery economical.
EOSHash is a gaming startup that has launched a recreation of the lottery while including the benefits blockchain provides: provably fair and low percent of retained funds. Moreover, in an effort to create a truly decentralized ecosystem, the platform’s revenues will be delivered to token holders in the form of dividends.
Decentralized Lottery & Games
EOSHash is a gaming hub that delivers winning numbers through, as the name implies, EOS block hash. Thus, the system remains provably fair as the game’s founders and operators have no control over the winning numbers. The platform is designed to support a number of major games while retaining its community-centric, decentralized nature by funneling revenue to token holders.
DappRadar began tracking the platform just 7 days ago. Since then, EOSHash has climbed the ranks to become a top 10 Dapp, and over 1,200 EOS have been collected in the dividend pool; the dividend will take place on January 20th.
A Unique Lottery
While lotteries typically conclude after a year or after all tickets/tokens have been sold, EOSHash has designed a lottery that runs every 60 seconds.
At the start of every minute, a new lottery commences and anyone who has access to a wide range of cryptocurrencies can enter the draw. At the end of the minute, the first 5 EOS block hash that end with a numeric character tally the winning numbers.
At the end of Round #25797022, the first two hash had an alphabetic last character and so they were skipped. The following 4 hash a numeric last character in the order 6, 8, 8, and 9. After one more hash skip, the fifth number, 2, was plugged. Thus, the blockchain’s hash decided the winning numbers of the lottery.
The lotteries rewards are allocated as such:
EOSHash is already functional. While the only activity presently available is the lottery, the platform will soon launch a large number of games. The platform’s native token will give rights to dividends from revenue collected from all games.
Given that the project is live, there is no ICO. Instead, tokens are issued to the community for free. For every $10 used to take part in any of the platform’s games or the lottery, the player will be issued 1 HPOINT; these tokens can be used to purchase HASH tokens. Community members who stake their HASH tokens will get dividends from the platform’s revenue.
When HPOINTs are used to buy HASH, 20% of the HPOINTS are burned, 30% will be added to a jackpot, and 50% will be given to community members who held HASH tokens at the time of any HPOINT-to-HASH redemption. HASH tokens have a fixed supply and once all dividend-earning HASH tokens have been distributed among the community, the only means of buying them will be through an exchange.
Exclusive Bonus for Steemit Users
EOSHash is offering Steemit users the opportunity to have 3% rebate on all lottery entries.
This rebate will also be applicable to all the plays made in the games that will launch on the platform in the future.
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