GEXAN – Blockchain Technology Frees The Global Lottery Industry
GEXAN – Including lottery gambling industry is a very high-risk game but comparable with that obtained prizes for the winners. This industry continues to grow with the rise in its market capitalization value in 2014 reached 187 billion USD. Until 2016 the value increased to 294.3 billion USD and will continue to grow. This shows that many people like this industry and make the gambling industry a stable industry with an average growth of 4.3% per year and will continue to grow.
Behind the success of this industry, followed by an increase in the number of mobile phone and internet users who contributed greatly to the growth of the online lottery. Total revenue from the online potential of mobile devices in 2013 is estimated at up to USD 34 billion, of which 44% of the total came from Europe and North America. Some fantastic and signifies loyalty and people’s desire to win the lottery higher. How not, the growth rate of mobile internet technology adoption is very fast and of course very much to help the growth of the market itself online lottery. However, in this world, nothing is perfect and certainly have weaknesses or problems that need to be solved so that the business can survive and thrive over time. In this lottery industry, in general, has a few questions that arise from the participants as to whether the winner is totally random? Is it fair to remove 40-60% of the sale of tickets for the lottery? Is it true that the cost of the manager is the appropriate remuneration? besides, also issues concerning the difficulties to distribute gifts, not to mention the high commission and taxes, of course, very difficult.
There blockchain based projects which appear to offer products that will provide solutions to problems above. The project is called Gexan which will be discussed later on this occasion. What solutions do they offer? they are able to provide the right solution so that the adoption of more advanced online lottery? This is a question we will find the answer. Let’s discuss now.
It happens so that people like to risk a little to get more. Those interested in the probability of a big win – sports betting, gambling, poker, “armed bandits” and of course the lottery. It is a stable market that has existed for a long time and will grow and develop further. Global lottery market growing from $ 187 billion in 2004, up to $ 294.3 billion in 2016, showing an average growth of 4.3% per year. At the same time, the growing number of Internet and mobile users contribute to the rapid growth of online lottery. Total revenues lottery on mobile devices in 2013 is expected to reach 34 billion dollars, of which 44% – in Europe and North America. The rate of adoption of mobile technology might be faster in developing markets.
Player interaction, intelligent contracts, websites, blockchain node is presented schematically in Fig. A key factor in this is the maximum security architecture with high-speed transaction processing.
What do we offer?
Our team will develop an ecosystem made up of blockchain itself with master node function, hybrid POW + POS consensus algorithm, GEX coins, lottery platform, intelligent contracts, wallet participants, Fiat gateway sites and mobile applications. Thus, we will gain an advantage over traditional online lottery:
– The blockchain technology making the movement of funds transparent: making it possible to keep track of whether, when and the extent to which the payment is made.
– The smart contract set a lottery system. Open source is available to anyone willing and cannot be adjusted, so that victory could not be tampered with.
– Costs for sales outlets, statistics, distributors, printing, verification of lottery tickets and more reduced. All these costs become part of the victory of the participants, not the profit of a third party.
– A developer of a reasonable fee, only 5% of the number of tickets sold, which may be the budget for additional promotional projects.
– Blockchain lotteries blur the boundaries and allow you to choose the optimal tax regime: tax rates are low or absent in victory and there are double taxation treaties with most countries in the world.
In the world of lotteries – one of the most popular game in the world there are many questions and doubts about the honesty of the distribution of prizes, as well as the entire process of image:
– Is a random winner?
– Is it fair to throw away less than 40-60% of lottery ticket sales?
– What are the costs and remuneration manager like justice?
Additionally, this issue increasingly valuable because of the difficulty of obtaining gifts, high commissions and taxation. With the introduction of blockchain technology, this problem has become very solvable. In Gexan platform, all phases of interest, including the purchase of tickets, random number generation, distribution of prize money, the winner verification registers are distributed based on the technology. Moreover, everything is built on the open source code, which will be published on GitHub.
The next type of lottery will have a guaranteed winner. The draw will be held in the following way: all participants sending the desired number of tickets to the public swimming pool, for a smart contract that records the incoming transaction. Then there is the calculation of the probability of each participant in accordance with the number of tickets sent to them. The more tickets a player has been sent, the more likely he/she should take the prize. After that, there is a “mixing” of all ticket and the winner is determined randomly. The first three places took up most of the pool. Also, a few dozen players who receive a small gift in the amount of two or three prices determined randomly. All calculations and payments are made in THE Gex coins. Then the winning players to decide whether to sell it on the stock exchange or participate in the next draw again. 5% of the total pool goes to the development team, the remaining amount is distributed among the players.
The main advantages of investing in the Gexan project
Benefits: the highest ROI possible only in the early stages of the project.
Luck: the ability to use the generated ticket to participate in the lottery.
Stability: the “burnt” GEX system will contribute to the stability of the price of the coin.
Tranquility: an idea that has been tested, millions of people have played and will play the lottery. We bring openness, increasing the payout ratio, anonymity, low tax rates.
Originality: we make a lottery blockchain with the master node, which has no analogs.
Sufficiency: o er small GEX aggregate of 21 million coins.
Guarantee: if only 13.45 BTC Soft cap is not reached – we will issue a refund.
Trust: open the project team, right, has a sobering experience to execute the plan. the budget is calculated and well planned. Hard cap only 117.5 BTC.
The differences from the competitors
We have a clear understanding that we are entering a new, promising and competitive market. According to the roadmap, our immediate goal is to create an MVP, to build a base of players and the community, and then to find a strategic investor who will help us to scale quickly. This is an essential requirement.
We have identified three major advantages over other blockchain lotteries:
Fast and secure blockchain, which has proven itself for several months. It will introduce a smart contract and master node will provide fast transaction speed.
85% of the sold tickets are players winnings! This is a key success factor, other projects have a rate of no more than 70%. The more and more people win, the more new participants will be.
Participants will collect Masternodes or POS stacks for the daily generation of new tickets. It is profitable and convenient. Why buy a ticket every time, if you can buy them once in the right amount and get them free. This is a unique feature of the Gexan lottery.
Initial Exchange Offering (IEO)
- Coin name – Gexan
- Ticker – GEX.
- Premine GEX – 1.480.000.
- Total for sale 1.000.000 GEX.
- The price of 1 GEX – 0.0001175 BTC.
- Max supply – 21.000.000 GEX-will be produced within 20 years.
- Inflation per year (starting from the second year) is 918 000 GEX.
- Combustion per year (starting from the second year) was 438,000 GEX.
- Generate new GEX-immediately after installing master node/wallet.
- IEO will take place in a single step (no private sale) until the soft cap will not be collected. When the soft cap is reached, the stage of the IEO cannot last longer than a month.
- Not sold GEX will be used for marketing purposes/jackpot, or in the reserve project.
Distribution of collected funds
The Gexan lottery blockchain need not assume distributor network maintenance costs to sell lottery tickets. As a result, all operating costs reduced team for the development of new lotteries, legal issues, and functional development. This will contribute to the rapid development of the project and take a leading position in new markets blockchain lottery.
To know the latest information about the Gexan project you can visit the link below:
Bitcointalk username: ubay
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=376156
Telegram username: @ubaygates
GEX Address: Gewpb2YqFyPytZJpFJkvdAQGGHpx62a8Hk
Disclaimer: “I’m not a representative or a member of the Gexan team, I just give you the latest ICO info”