Wednesday 30 September 2015

The world's first decentralized lottery, implemented with Ethereum.


Ethereum's is making history tonight. We've seen the painful failures in the past when it comes to centralized markets. BitLotto anyone?One.Thousand changes it all now. See the full release notes here as to why it all works and why it was made.How it worksTickets are bought through a contract that's provably fair and publicly auditable. Every thousand tickets, one is drawn at random and the winner receives 1000 ETH.Why we're betterIt lives on the freaking blockchain. The code is public. It's completely decentralized and that means complete transparency, immunity to DDOS, immunity to exit scams, and much more. It doesn't get better than this!Pricing1-4 Tickets: 1.150 ETH5-9 Tickets: 1.100 ETH10-24 Tickets: 1.050 ETH25+ Tickets: 1.025 ETHHow do we decide who wins?The winner is decided using three key elements:A server secret of which the hash is revealed beforehand. We have 24 hours upon the termination of a round to reveal the server secret; otherwise everyone gets their money back.A client secret which is updated each time a transaction is sent within a round. Once the round ends, this is set in stone.The blockhash of the block following the round. This is also set in stone upon the end of a round.We can't cheat you because we can't easily modify (2 and 3). You can't cheat us because you don't know (1). It's to our advantage to pay you to keep the contract running.Where's the source code?It's in the release notes. It's also living on a contract on the blockchain at 0x2adfc2febf51d75d195ccd903251c099fdd22f20.Also github: http://bit.ly/1O3TOjT price of Ethereum's been going through some tough times lately, and we need to show the world exactly what Ethereum can do that other cryptos can't. So let's show the world how to run a truly decentralized raffle with the best crypto around! Let's try to finish a round and make history.If you're a blog writer or press, contact us on FB/Twitter/Email and we'd be happy to help in any way we can.http://bit.ly/1MI57wx: OneEther has removed all logins for ALL services. No need to enter addresses to use anything. via /r/CryptoCurrency http://bit.ly/1O3TOjV

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