Topic: Popular questions and answers about Fire Lotto International Blockchain Lottery. - page 6. (Read 1931 times)

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If you bought on Pre-sale or ICO you can get commission. You should have 500 FLOTs on your balance.

I have a few tokens FLOT in investor's account on site firelotto.io. How I can participate in the next rewards tokens?

Welcome to our RoadMap! Today we’ll be discussing the roadmap for the next 4 months.

Rewards transfer — April 30

Payment transfer of rewards to token holders of FLOT tokens. We have finished the first tranche of rewards to all token holders. We transferred 3481 in 30 hours. It’s the first ever reward payment to all FLOT token holders. The reward was paid in 10% of all ticket sales on FireLotto blockchain lottery.

Site localization — May 11

We use Crowdin to introduce multi-language support for Korean, Chinese, Russian, Thai, Indonesian, Philippines, and Japanese. Up to 10 languages in total. The FireLotto lottery player community is global and more languages will be supported in the future.

User reports of the winning numbers — May 25

We are planning to develop easy and intuitive charts to show the reports of last lottery winners, numbers that won and more data for users to play and win.

Fiat Payments integration — June 20

The idea of using a blockchain has had such an impact on the blockchain world lately that even giants like credit card companies are now tipping their hats to it. FireLotto is planning to reportedly roll out a blockchain solution targeted at lottery players, offering the ability to pay for the games in fiat currencies vs Ether as it’s now.In this release the users would be able to send the money instantly while also saving on transactions and currency conversion fees as compared to using cryptocurrency exchanges.

New 5/36 Lottery to use FLOT tokens — July 2

The 5–36 lottery inherits many good features of its 6–45 predecessor. The most important is the method of drawing numbers. The method takes hashes of recent blocks found on the blockchain. Using these as a basis, and a publicly available formula posted on the company’s website, the algorithm determines the winning numbers. Dependence of drawing results on blockchain block hashes guarantees randomness, and removes any doubt that the lottery operator can somehow influence the drawing outcome. Besides, anyone can make sure that the results are valid and fair.

Roger`s Wheel Lottery release — August 1

It is a blend of traditional luck wheel and slot machines. In this game, players can place bets ranging from 0.003 ETH (~ USD 2.00) to 1 ETH (~ USD 1,000.00)

• and select a payment rate of 2 to 20, which will be used to multiply their winnings. Next, players spin the wheel divided into 21 sectors with different payment rates on them. If the wheel stops at the level the player chooses, he will instantly gain victory (bet multiplied by the payment rate) transferred to their crypto cardiard wallet. Players can change the number of unlimited wheels in a game, which reduces waiting times and increases the number of tickets purchased by players.

Popular browser plugins and wallets — Aug 15

Rather than offering a standard way to use one browser and one ETH wallet , the FireLottoe team wanted to do something entirely different by putting the end user in full control of their funds at all time. By developing a Chrome Extension, Ethereum holders can now access their funds and play through the world’s most popular Internet browsers and wallets. After all, the primary goal of the browser extensions like Chrome extension is to provide a straightforward and convenient solution to users around the world to pay and play, without friction.

Instant Play implementation, Bingo — August 1

Afterward,Instant Play, Bingo lottery release will occur. The primary goal of Instant Play, Bingo is to drive players onto the platform. By this stage, we should already have an active community of players, winners and token holders. We are planning to introduce FireChain technology in this game for the speed lottery play.

Frontend UI improvement September 10

In this release, a lot of quality of lottery upgrades will occur to make FireLotto more easily adopted by non-blockchain audiences.

In the implementation of in-game purchases in FireLotto, speed is a major issue. The FireLotto technical team is planning to work on a few different tasks: avatar development, speed improvement, visual effects, show lottery results in an interactive way and more UI improvements.

KEHO Lottery release — September 20

In the KEHO Lotter release, all components of the system will be in polished for new lottery play. During the KEHO Lotter stage, our focus will be on building a strong community of players and generating more rewards for the token holders.


More information you can find on our Blog and Website






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1 st commission 13.7565 ETH paid to 3481 wallets for 16612991 FLOT
FLOT Commission calendar for 2018–2019 years is:
7th of July 2018 12:00 UTC
7th of September 2018 12:00 UTC
7th of November 2018 12:00 UTC
7th of January 2019 12:00 UTC
7th of March 2019 12:00 UTC
7th of May 2019 12:00 UTC
7th of  July 2019 12:00 UTC
7th of  September 2019 12:00 UTC
7th of November 2019 12:00 UTC

Thank you for you opinion about our project!

How do you plan to minimize regulatory risks, especially those related to the Howey Test?

The main difference between the security token and the utility token is that the first one enables its holder to get profit without doing anything. A person can simply buy a token and get dividends. Having analyzed the current international legislation, we adopted a set of measures aimed at making it clear that our tokens should not be classified as security tokens:

- Holders of our tokens will get commissions from sales rather than dividends. This
system will be in essence the same as the system of referral payments discussed
earlier.

- In order to receive commissions, each token holder has to play the lottery. In other words, each token holder will have to buy a certain number of lottery tickets every month in order to be able to receive commissions from sales. The number of tickets and the frequency of purchases are being calculated at the moment and will be announced later. Given that one lottery ticket costs only 2 U.S. dollars, token holders will not have to spend a lot of money on buying lottery tickets, and at the same time this measure will help us solve legal issues and stimulate the lottery.

-Together with lawyers and advisors from New York, we are discussing the option of inviting a professional investor to our team. This will enable us to attract funds from U.S. citizens to our ICO in accordance with the rules and requirements established by the SEC and U.S. government.

More information you can find in Whitepaper

Please check article https://medium.com/@FireLottery/how-blockchain-will-revolutionize-the-lottery-853afcb6dc74

Blockchain has quickly become a buzzword in daily conversation, and it’s inspiring to see how far the technology has become since bitcoin’s debut about a decade ago. As entrepreneurs and developers move to adopt blockchain, its potential to disrupt brands far and wide becomes increasingly obvious, in fact, blockchain is emerging as a powerful technological force that promises to change the lottery industry’s status quo.

There is a lack of transparency in knowing which sites are safe, honest and trustworthy. With an estimated 1.4 million fake websites being created every month, any successful online lottery site is at risk of being hacked. So can the blockchain technology reinvent the online lottery industry?

But first, what is blockchain?
At its essence, the blockchain technology is a decentralized software mechanism that enables a public distributed ledger system. It allows the tracking and recording of assets and transactions without the presence of a central trust authority. Importantly, it relies on public key encryption, or cryptography which makes it difficult for hackers and other cyber criminals to change or steal data. It enables peer-to-peer exchange of data, assets and currencies through rules-based smart contracts in a more efficient, transparent and cost-effective manner. Here’s a look at some features that are common to all blockchain:

1. A blockchain is digitally distributed across a number of computers in almost real-time- this means that the blockchain is decentralized, and a copy of the entire record is available to all users and participants of a peer-to-peer network. This eliminates the need for central authorities, such as banks, as well as trusted intermediaries, such as brokerage firms.

2. A blockchain uses many participants in the network to reach consensus- this means that the participants use their computers to authenticate and verify each new block — for example, to ensure that the same transaction does not occur more than once. New blocks are only adopted by the network once a majority of its participants agree that they are valid.

3. A blockchain uses cryptography and digital signatures to prove identity- transactions can be traced back to cryptographic identities, which are theoretically anonymous, but can be tied back to real-life identities with some reverse engineering.

4. A blockchain has mechanisms to make it hard (but not impossible) to change historical records- this means even though all data can be read and new data can be written, data that exists earlier in a blockchain cannot in theory be altered except where the rules embedded within the protocol allow such changes — for instance, by requiring more than 50% of the network to agree on a change.

5. A blockchain is time-stamped- transactions on the blockchain are time stamped, making it useful for tracking and verifying information.

6. A blockchain is programmable- this means that instructions embedded within blocks, such as “if” this “then” do that “else” do this, allow transactions or other actions to be carried out only if certain conditions are met, and can be accompanied by additional digital data.

Breaking down the Challenges in the Lottery Industry
As with centralized services, lotteries have real and perceived trust issues. Some of the most common lottery industry problems are described below:

1. Fairness

Ensuring fairness of the game remains the biggest challenge. Lottery players may question the possibility manipulation or fraud, for instance,

· Are the ticket and lottery real?

· Is the money really accumulated in one pool?

· Is RNG truly random and secure?

· Is the jackpot winner real?

· Are the prizes paid on time?

Consider these 2 cases in point:

· Hot Lotto Fraud Scandal. Eddie Tipton, the former information security director of the U.S. Multi-state Lottery Association, installed software code that allowed him to manipulate random number generation and predict winning numbers on specific days of the year and led to his winning a $14.3 million jackpot in 2010. The manipulation was discovered, and Tipton was convicted and sentenced to 10 years imprisonment in 2015.

· The 1980 Pennsylvania Lottery Scandal (also known as the Triple Six Fix). This was a plot to rig the Daily Number, a three-digit game offered by the Pennsylvania lottery. All the balls in the three machines, except those numbered 4 and 6, were weighted, and as a result the numbers drawn were almost sure to be a combination of those digits. The scheme was successful in that 666 (one of the eight combinations that the conspirators were hoping for) was drawn on April 24, 1980; however, authorities were alerted by unusual betting patterns.

2. Regulations

In some countries lotteries are not legal, and in most other countries only governments and affiliated organizations can obtain a license to operate a commercial lottery business. Corruption schemes that can affect distribution of funds may take place in different regions.

3. Availability

Users from other countries cannot easily participate in some of the biggest lotteries in the world such as Euromillions or some of the lotteries in the United States. Users are limited to playing smaller, local lotteries due to the smaller size of their domestic market, underdevelopment of the lottery industry at home, or strict regulation. New online solutions that allow such players to buy worldwide or U.S. lottery tickets have recently gained some popularity, but the service charges, as well as risks of fraud and mismanagement, remain high.

Currently, lotteries are controlled by the state and regulated by law I most parts of the world. On average, no more than 50% of all funds collected from ticket sales are allocated to the prize pool. It should be noted that lottery participants have no control over how much money is collected from ticket sales, and the average value mentioned above is a rough estimate. In addition, lottery winnings are taxed, and in some countries (for example, the U.S.) as much as 60% can be withheld.

The average price of a lottery ticket is about USD 2.00. Lottery machines are used to draw the winning numbers for a lottery at different intervals. It is believed that the winning numbers are drawn randomly, but there are ways to influence the results. In order to make their lottery look more credible, organizers arrange live television broadcasts and set up lottery commissions. However, it is easy to make the process non-random by putting radio frequency identification (RFID) tags on lottery balls.

Enter the Blockchain Technology
The players in the gambling industry are unhappy with this system, and a few good attempts have been made to organize an honest internet lottery. However, the traditional approach to organizing a lottery which involves the use of a centralized organizational structure (i.e. a single server that may belong to a single owner) has long been mistrusted because nobody can check the RNG (random number generator) or any other parameters of the lottery other than a narrow circle of interested parties.

The blockchain technology is an evolution of the network server model in the sense that it is a distributed database structure with a secure write-forward authentication system for adding data and without a single point of failure evident in traditional data base structures. With the blockchain, any full node- computer, server or device — that participates in the network gains a copy of the ledger. These blockchain devices form the points of the network and can be described as ‘nodes’. Through nodes, users can update or input information into the ledger without going to a third party, giving much more power and flexibility to individual participants in the network, Each node of the distributed ledger is in communication with every other node, allowing regular updates and verification to take place. If network nodes fail in a blockchain, the network compensates for this loss as there are copies of the blockchain on the thousands of devices that are nodes. This makes it ideal for implementation in the lottery industry or rather the gambling industry. In a nutshell, here’s how blockchain can improve the gambling space:

· Privacy and accessibility

Using cryptocurrencies for gambling has become a widely popular solution for casinos, either as a main payment system or as an alternative to fiat-based ones. The advantages are many and well documented. By using cryptocurrencies, users will be able to gamble anonymously, without the need to hand over copies of documents or even create an account, depending on the platform.

Besides, cryptocurrencies are able to make online gambling accessible again, providing a low entry barrier for new players and allowing them to circumvent gambling regulations that apply to fiat only.

· Improve Fairness with the Smart Contracts concept

The Ethereum blockchain in particular has focussed on the concept of a smart contract. This is a digital agreement between parties, whose terms could be enforced by computers and would add the element of transparency to any transaction. With an impartial network insuring the contract is adhered to, any potential obstacles to transparency will be eradicated with blockchain technology. This means that with an online gambling blockchain in place, there is no altering of the rules, which are clearly legible to all parties, and an instant pay-out is guaranteed. There are no concerns about a site withholding winnings, because there is no site governing the game. The player’s funds go directly into the contract (and, if they win, back out again), without a middleman interfering.

This has seen various start-ups such as FIRELOTTO which seeks to leverage the blockchain technology to revolutionise the online gambling industry. The FIRELOTTO system has built a completely transparent and fully decentralized platform for organizing and conducting a lottery using the blockchain technology and ETH smart contracts for collecting and distributing funds, drawing winning numbers in a random fashion, and paying lottery ticket sales commission to token holders. The prize pool of the FIRELOTTO lottery is formed from 70% of the funds collected from ticket sales.

Blockchain- Creating a Supportive Ecosystem for the Lotteries
Amid unprecedented industry hype, the unique combination of technologies known as blockchain is emerging as a possible antidote to one of today’s most vexing business challenges — how to create greater trust, transparency and accountability for all who wish to transact and interact. And despite the fact that the technology is still in its infancy, blockchain is consuming strategic planning cycles of decision makers across industries. The underpinnings of the technology hold substantial promise for bringing the element of trust into the online gambling space. By integrating blockchain technology, all parties are set to benefit from the permanent record of a verifiable, unchangeable transaction ledger. This means that an online gambling platform leveraging this technology provides transparency at the transaction level.

Website — https://www.firelotto.io
Twitter — https://twitter.com/firelottery
Facebook — https://www.facebook.com/firelotto

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I like the concept and I think this project will have a big future . I'll support as far as possible

Will you use KYC in the sales process?

Yes. In the near future, we plan to launch a tool that will make it possible to accept non-cash payments using traditional currency. This way of purchasing FLOT tokens requires that we use KYC.

More information you can find in Whitepaper

What do you think are the main risks to the project?

1. A situation in which the global community stops using cryptocurrencies or they become banned and criminalized in most developed countries.

2. The use of Ethereum, the main means of payment at the moment, as an investment tool similar to the way Bitcoin is now being used. The cost of transactions will become very high and people will prefer to keep their ETH on cold wallets, hoping the currency will start growing in the future. If this happens, we will have to switch to an alternative cryptocurrency with a commensurate level of security, accessibility, and speed of operation. However, it will take some time.

3. We believe that the blockchain technology can solve current problems in the lottery industry like no other tool. Its implementation will bring the lottery industry to a new level of development, making it as transparent and accessible as possible.

More information you can find in Whitepaper

Greetings everyone! We have a wonderful announcement that the payment of rewards of FireLotto (FLOT) token will now happen on April 30.

It’s the first ever reward payment to all FLOT token holders. The reward will be paid in 10% of all ticket sales on FireLotto blockchain lottery. Previously, we had decided to hold it for 4 weeks after the ICO. However, due to major breakthroughs in our lottery development, it will now be enabled earlier.

Thus, after the 1st reward payment to all FLOT token holders, you will now be able to earn rewards from your FLOT token and participate in receiving revenue from FireLotto lottery.

NOTE: FLOT IS FIXED SUPPLY AT 100M. All FLOT TOKEN HOLDERS ONLY GET 10% FROM THE LOTTERY REVENUE. THERE IS NO INFLATION MODEL. EVERY TIME FLOT IS REWARDED, MORE VALUE IS BEING ADDED INTO THE SYSTEM THROUGH INCREASED LOTTERY PARTICIPATION AMONG PLAYERS.
The 2nd and following reward payments will be conducted in the 7th date of each OTHER month starting from July 7th.

In order to receive reward, your FLOT tokens must be in your personal wallet (not in exchange wallet) at the time when reward is calculated (7th day of each OTHER month starting from July 7th).

We need this in order to get your wallet information in Ethereum in order to pay you the rewards from FireLotto lottery.

You can move to any other wallets, sell and buy FLOT token in other time.

Typically, it takes from several minutes to several days to receive commission depending on Ethereum network performance.

THE TOKEN ADDRESS: 0x049399a6b048d52971f7d122ae21a1532722285f

THE TOKEN NAME: FLOT

DECIMALS: 18

Example for the April 30 reward payment:

You need to have your FLOT token from 11:00 till 13:00 UTC. We will start sending rewards after 12:00 UTC.

How we calculate reward payments:

Our system will check data about FLOT tokens in Ethereum wallets at 12:00 UTC on the day of reward payment. The amount of payment will be calculated in proportion of the total number of tokens participating in reward payment.

All ICO buyers, bounty and referral campaign participants are eligible to receive reward payments. The token that are frozen after ICO and team token will not participate in the reward system payment.

Important: in order to be eligible for reward, you must to have at least 500 FLOT tokens on the day of reward payment.

You can always check the number of sold tickets in the History of lotteries in your dashboard on https://firelotto.com

https://medium.com/@FireLottery/rewards-tokens-flot-will-be-conducted-in-april-30-e15af410b6d7



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When the first jackpot is paid out, there will be no money left in the prize pool. How are you going to make payments after that? Will you have to suspend the operation of the platform?

Each lottery has its own jackpot. The chances of paying all of them out at the same time are extremely small. The probability of winning a 6/45 lottery jackpot is 1 to 8.15 million. If somebody wins a jackpot, the new one will be formed using funds from the reserve prize pool. The system is arranged in such a way that funds collected in each drawing are used only in the next drawing. This means that the system replenishes itself, has a reserve source of funding and will hardly ever have to face lack of funds. Also, as it has already been said, each jackpot has its own cryptocurrency wallet which our team can replenish with extra funds if needed.

More information you can find in Whitepaper

If your ICO is successful, will you expand the platform (for example, adding
new lotteries

Yes, we are planning to launch Bingo 37 and Keno, two very popular lottery types
after the ICO is completed. If any other new lotteries appear on the market and start
gaining in popularity, we can easily add them to the platform. This is what makes our
product unique.

More information you can find in Whitepaper

Have you had / are you going to have your smart contract checked by an
independent auditor?

No, we have not had it audited as there is no need for it. Subscribers of our Russian and English Telegram groups, who know a lot about the technology, have checked our code many times and confirmed that there are not any flaws. Anybody can go and check it themselves. If our users find any flaws in the future, they will let us know.

Platform performance is monitored by the Internet community itself, which is a more transparent way than having to trust an auditor. There are too many questions that can be raised if an auditor is invited.Where was this auditor certified? How do we know that this person is impartial? How often does the auditor recheck the code? Why was this auditing company chosen? Moreover, the fact that we are planning to obtain gaming licenses means that our software will be certified.

More information you can find in Whitepaper

Where will the jackpot be stored and how will funds be transferred there?

The jackpot for each lottery will be stored in a corresponding smart contract. Funds have already been transferred to the smart contracts, and anybody can win a jackpot now. After we carry out all the necessary tests, we will transfer more funds to the smart contracts. Funds can be transferred there at any time. Also, each lottery ticket sold will make our jackpots grow. The lottery is already in the operating mode.

More information you can find in Whitepaper

How can I be sure that the information about winnings and the number of tickets sold is correct? Is there any tool that can be used to check this
information?

There is a Statistics tab in the lottery menu. This tab contains information about the number of tickets sold, numbers drawn, jackpots and winners’ wallets (showing how many numbers were matched and what the payouts were). This information can be verified through Etherscan and the program code shared on GitHub.

More information you can find in Whitepaper

You want to know how you can be sure that the information about winnings and the number of tickets sold is correct? Is there any tool that can be used to check this information?

There is a Statistics tab in the lottery menu. This tab contains information about the number of tickets sold, numbers drawn, jackpots and winners’ wallets (showing how many numbers were matched and what the payouts were). This information can be verified through Etherscan and the program code shared on GitHub.

Lottery smart contact address. All information is on  firelotto.com

6x45 : 0x2734B99e2C62cA70fE753a0cbcD3a90930E1EEC9

5x36: 0x10C621008B210C3A5d0385e458B48af05BF4Ec88

4x20: 0x2020fE9fA0f43fDe44360AAe03138C4B6AB35055[/color]

What do you think are the main risks to the project?

1. A situation in which the global community stops using cryptocurrencies or they become banned and criminalized in most developed countries.

2. The use of Ethereum, the main means of payment at the moment, as an investment tool similar to the way Bitcoin is now being used. The cost of transactions will become very high and people will prefer to keep their ETH on cold wallets,
hoping the currency will start growing in the future. If this happens, we will have to switch to an alternative cryptocurrency with a commensurate level of security, accessibility, and speed of operation. However, it will take some time.

3. We believe that the blockchain technology can solve current problems in the lottery industry like no other tool. Its implementation will bring the lottery industry to a new level of development, making it as transparent and accessible as possible.

More information you can find in whitepaper

https://firelotto.io/whitepaper_en.pdf