Today i finally did read the whole Tombola White Paper today.. i would recommend you towards doing the same.. it is not so much, just 30 pages and lot of them are covered with drawings. As i expected, this is a competent document, which includes all details you need to know before taking the smart decision of contributing!
Writing of Whitepaper is important for understanding of investing. Everyone who is going to enter the project should get acquainted with it.
That is really true! Having a very essential knowledge from the whitepaper of an ICO will definitely gives you ideas and understanding about the project especially if they have a very substantial and informative one not only for investing but for all the people who are interested to be part of their community as well.
Yes they changed the whitepaper though and still won't give any details why they said Ethereum wouldn't work in their original whitepaper.
It used to say:
B-3. Problems of the existing blockchain lottery services
As for the conventional blockchain lottery services, they use bit coin and ethereum for their services. First of all, as for companies that use Bitcoin for their services, they manage the collected amount centrally through their own server that controls the amount of money due to the disadvantage of Bitcoin without smart contract function and distribute the prize money. This implies that they can manipulate the results at any time, or they can flee at night with the huge prize money.
As for Ethereum lottery services, you must pay an Ethereum gas fee. Ethereum has an Ethereum Gas (Gwei) that you have to pay to run smart contract codes in your structure. In the order of the higher amount to be paid for this gas, the miners have a system where they establish deals and must pay accordingly a kind of fee in addition to the Ethereum they must actually use. Although the lottery ticket amount includes fees, the user has to pay fees again. Currently Ethereum has a processing speed that can handle 100 transactions every 15 seconds. While Visa, a global credit card company, handles up to 25,000 transactions per second and China’s Alipay handles up to 50,000 transactions per second, Ethereum has a far slower speed. If a user receives a large amount of money as a jackpot, no one knows how long it will take to receive the prize money.
But no details because its Tombola wanting to avoid any details and say we lie.... they lied.