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The new Bitwin24 blockchain lottery: Everything you need to know

The new Bitwin24 blockchain lottery: Everything you need to know

After the successful fundraising campaigns of several lotteries like True Flip, Tombola and Fire Lotto, blockchain lotteries are still not a decisive market factor. Traditional forms of lotteries are vastly dominating the sector, with online lotteries trailing behind them. Despite the apparent advantages blockchain can introduce to the sector, such platforms have not yet managed to even scratch the surface - the technology remains vastly misunderstood due to its complexity and the fact that it does not align with the interests of some industry leaders. Blockchain fundamentally changes the way data transaction work and takes away the one-sided power through the elimination of informational asymmetries. This enables the technology to disrupt existing industries that operate centrally and are thus subjective to manipulation. 

So how can blockchain lotteries gain the attention they deserve and position themselves as the standard in the sector? Turns out that there is already a prospective blockchain project that has a plan of achieving this - and it is about to make its plans a reality. 

BitWin24: the basics you need to know

BitWin24 is the first blockchain lottery powered by its own blockchain that combines master nodes, a Proof-of-Stake system, a transparent draw mechanism, an innovative referral program and a continuous airdrop system that passively rewards early adopters with a percentage of all winnings in the ecosystem. BitWin24 determines the winners based on a randomly chosen Bitcoin hash which is not known to any party, thus eliminating the possibility that the outcome of the draw is influenced in any way. Through its own proprietary developed blockchain, BitWin24 distributes the prizes among the winners and discloses all actions related to the funds acquired through ticket sales and how they are spent.

An innovative aspect about the BitWin24 lottery that makes it different from its competitors is the way they have structured their referral system. By introducing “win-chains”, everyone who recommends BitWin24 gets the status of an ambassador and acquires their own reward hierarchy. This allows them to earn a commission based on a percentage of the winnings made by their referrals. However, everyone who was referred by their direct referrals also yields them a fraction of their prizes as well, resulting in a potentially endless chain of passive income. This mechanism is aimed at greatly incentivizing the widespread worldwide adoption of the BitWin24 lottery, which enables scaling and synergy effects such as higher jackpots leading to a greater number of participants. 

Another very important feature of the BitWin24 ecosystem is the continuous airdrop system that gives early adopters a lifetime source of passive income. 10% of all proceedings collected through ticket sales and dedicated to the jackpots will be distributed among the airdrop participants, greatly incentivizing early investments. This is crucial for securing the critical mass of users for the BitWin24 ecosystem - not only do the jackpots increase with more users joining in, which attracts further participants, but it also gives a solid liquidity, allowing BitWin24 to have sufficient funds for the early expansion of their blockchain lottery. 

The project team recognizes the vital role master nodes will play in the ecosystem for the block validation of the proprietary developed blockchain that is handling all transactions and has decided to additionally reward all early master nodes with higher ROI and a greater share of each block validated. By providing additional incentives, BitWin24 will secure the technical infrastructure that is crucial for its ecosystem. 

Participating in the lottery is very easy and does not require any technical knowledge. Users can register through a web or a mobile app in less than 10 minutes and download the BitWin24 wallet which is very easy to set up. The entry in the lottery costs a fixed fee of 5,50 EUR which is discounted to 5 EUR if the user pays in BWI coins. 70% of the proceedings collected through ticket sales then flow to the prize pools, while the remaining 30% are invested in social projects and in the expansion of the BitWin24 ecosystem. Additionally to the traditional cryptocurrency payment methods, users can pay in FIAT with credit card, apple pay and direct debit. 

Blockchain investment with special early-mover bonuses

Participants in the BitWin24 ecosystem can earn through various ways - by winning the jackpots, referring BitWin24 and benefiting from the win-chains, becoming master node owners, getting access to the continuous airdrop system as early adopters and using the BWI coin as long-term investment method. No other blockchain lottery on the market today offers that degree of diversification, making BitWin24 exceptionally lucrative for a large target group - from professional and casual investors, gamblers, and even IT companies.

The BitWin24 sale will be conducted in three rounds with different bonuses on each one, favoring early adopters with ~10% bonus coins on their investment, access to the exclusive airdrop system rewarding first movers with a lifetime source of passive income. The private sale has already been sold out and with the pre-sale now ongoing in full steam, the additional bonuses will be available for a limited time. Keep in mind that the access to the airdrop system will be granted only to those who invested prior to June 2020 or as long as the capacity allows it, so make sure you secure yours before it's too late.

The revolution of lotteries approaches

BitWin24 is among those that greatly rewards its early contributors due to their vital role for the future development of its ecosystem. With their own technical infrastructure, transparent draws, guaranteed payouts and multiple reward mechanisms, BitWin24 is equipped with the knowledge and resources to become the first blockchain lottery with a worldwide acceptance that will pave the way for the future of the sector. If you want to learn more on how you can become one and benefit from the multiple bonuses, make sure to visit the project’s website https://bitwin24.com/en/.

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The benefits of Ethereum 2.0 will come sooner rather than later according to Vitalik Buterin

The benefits of Ethereum 2.0 will come sooner rather than later according to Vitalik Buterin

Quick take

1 minute read

  • Vitalik Buterin, has recently answered a number of questions from the community as a part of a “ask me anything“ session on Reddit. 
  • The co-founder highlighted many different topics but specifically said that he expects some significant and noticeable network improvements to come for the project sooner rather than later. 

Vitalik Buterin, the co-founder of one of the biggest crypto projects in the industry known as Ethereum has recently answered a number of questions from the community as a part of a “ask me anything“ session on Reddit. The co-founder highlighted many different topics but specifically said that he expects some significant and noticeable network improvements to come for the project sooner rather than later. He further said:

“TLDR: merge happens faster, PoS happens faster, you get your juicy 100k TPS faster.”

Over the years, the network for Ethereum has experienced some significant rounds of high congestion. Three years ago in 2017, the popular CryptoKitties game slowed down the network massively but with the decentralised finance space growing rapidly, the network has been seriously clogged up.

As a result of this, it has led to high fees and longer than average confirmation times.

With Ethereum 2.0 very much just around the corner, there is a significant scaling upgrade solution that is supposedly going to speed up the network rapidly. This will increase the number of transactions per second and it will also move the blockchain to a different consensus algorithm known as a proof of stake. Phase 0 for the upgrade is set to occur on the 1st of December in two weeks!

The co-founder further went on to say that “all of these changes are designed to decrease the time until eth2 becomes useful to people.” 

For more news on this and other crypto updates, keep it with CryptoDaily!

© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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The second richest man in Mexico invest 10% of his portfolio into BTC

The second richest man in Mexico invest 10% of his portfolio into BTC

Quick take

1 minute read

  • Ricardo Salinas Pliego is the second wealthiest businessman in Mexico and the 166th richest man in the world. 
  • It was recently announced last week that he has invested 10% of his liquid portfolio into the leading cryptocurrency, bitcoin. 

Ricardo Salinas Pliego is the second wealthiest businessman in Mexico and the 166th richest man in the world. It was recently announced last week that he has invested 10% of his liquid portfolio into the leading cryptocurrency, bitcoin. This came after he shared a video throwing huge amounts of paper money into the garbage. Not only does it show how worthless the government-issued cash is in today’s world but it also shows how important digital assets such as bitcoin could become.

Furthermore, the video indicates the hyperinflation and how bad it got in Venezuela.

Ricardo is worth more than $11 billion at the time of writing and is the only billionaire from Mexico who seems to have benefited from the coronavirus pandemic and the economic crisis that has come as a result.

For more news on this and other crypto updates, keep it with CryptoDaily!

© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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Coinbase co-founder, Fred Ehrsam set to join Fireblocks as a member of the board

Coinbase co-founder, Fred Ehrsam set to join Fireblocks as a member of the board

Quick Take

1 minute read

  • Fred Ehrsam, the co-founder of the crypto platform known as Coinbase is getting ready to join the digital asset security platform Fireblocks. 
  • It was announced last week that Fred would be joining the board following a recent round of funding.

Fred Ehrsam, the co-founder of the crypto platform known as Coinbase is getting ready to join the digital asset security platform Fireblocks. It was announced last week that Fred would be joining the board following a recent round of funding.

The co-founder of the well-known crypto platform is getting ready to join the company as a board member following a $30 million funding ground to help expand its operations on an international level.

Throughout 2020, Fireblocks has launched a secure asset transfer network which would allow more institutions to efficiently transfer assets on chain. And on top of this, the platform also announced that it has seen more than $150 billion in transferred assets over the course of the past year. Fred has said:

“Fireblocks has become the go-to for any business looking to build new digital asset operations or scale existing ones… The extraordinary growth of the Fireblocks Network and its team in the last year attests to the enormous value they have unlocked for enterprise and institutional customers.”

 

For more news on this and other crypto updates, keep it with CryptoDaily!

© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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XRP Price Analysis: XRP Continues Correcting

XRP Price Analysis: XRP Continues Correcting

This analysis brought to you by RoboForex.

On Friday, November 27th, XRP has reached stability but is still correcting and trading at $0.5550.

As we can see in the daily chart, after finishing a quick rising wave, XRP/USD price is correcting to the downside. At the moment, the asset is trading close to 61.8% fibo, a breakout of which will indicate further pullback towards 50.0% fibo. The MACD histogram has broken 0 and is still moving to the upside – it may be another signal in favor of a new rising impulse. The upside target of the completion of the correction will be at 0.6800.

In the H4 chart, the cryptocurrency continues correcting to the downside. Right now, it is testing the support level, a breakout of which will result in further decline towards 50.0% fibo. The Stochastic indicator has formed a “Black cross” inside the “overbought area” and is still falling, which is an additional signal in favor of further decline towards 50.0% fibo. After completing the correction, the asset may test and break 61.8% fibo, and then continue trading upwards. The upside target is similar to the daily chart, 0.6800.

Ripple started its rally on November 20th, together with other cryptocurrencies. There are a lot of explanations of why it happened, from investors’ search for alternatives to fiat instruments to a surge in interest in cryptoassets from institutional players. Indeed, all of this really took place and, of course, expansion of the interest was in favor of cryptocurrencies. The entire market is on the rise but since “trees don’t grow sky-high”, active purchases faded to the correction.

Over this period of time, XRP has managed to update its high reached in May 2018. The asset is still moving like 80% below the highs of January 2018, when it was trading at $3.7, but investors are surely positive about further growth.

At the moment, XRP is back to third place in the list of the strongest and most popular cryptoassets.

By Dmitriy Gurkovskiy, Chief Analyst at RoboForex

 

Disclaimer

Any predictions contained herein are based on the author's particular opinion. This analysis shall not be treated as trading advice. RoboForex shall not be held liable for the results of the trades arising from relying upon trading recommendations and reviews contained herein.

 

© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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