NEOGAME – Blockchain Based Non-Profit Lottery To Change The Game

INTRODUCTION

Since the emergence of blockchain technology in 2008 when Satoshi Nakamoto introduced bitcoin, there have been rigorous efforts to apply the blockchain to several aspects of the global business process, Blockchain technology has been described as having the potential to disrupt many industries with a low-cost transaction, immutability, and enhanced security. In the years that have followed, many other blockchain implementations have been developed with each one exhibiting unique features tailored to specific use-cases.

Blockchain has made it possible to issue just about any asset via a distributed ledger framework. With the aid of cryptocurrency tokens, these assets can be given economic value in order to initiate and validate several transactional processes. Several on-chain protocols have been developed by a number of startups and established companies alike in order to create blockchain-based solutions.

As more technological advancements are uncovered, Neogame whose mission is to transform the global gambling market into a non-profit and no-host model create a space where nobody makes money on games and nobody is interested to chase problem gamers came on board.

ADVANTAGES OF BLOCKCHAIN IMPLEMENTATION

Decentralized Payment Processing

The payment processing framework for global commerce is based on a centralized system which requires the services of third-party authenticators. These third-party agents are responsible for ensuring the fidelity of the global payments system and they charge fees for their services. One of the fundamental philosophies behind the operation of the blockchain is the removal of these third-party agents and their associated cost of trust and replacing them with a robust, functioning distributed ledger payment framework.

Creating an Immutable System of Record

The blockchain is the first successful implementation of the distributed ledger framework. On public blockchains, the distributed ledger constitutes an immutable system of records that is available to all participants. The immutability of a blockchain ensures that it is tamper-proof.

Reducing Cost of Transaction

Payment processing remains the basic level of commerce but it is one that has not seen much in the way of evolution since the emergence of fintech protocols. Blockchain technology has the potential to disrupt commerce by causing a paradigm shift in the mechanism by which transactions are carried out. The fees charged by third-party actors and middlemen in the payment chain constitute a considerable portion of the cost of transactions. By eliminating the middlemen, the cost of transaction is materially diminished.

Enhanced Security

Operating on a multinational scale opens up any enterprise to the activities of hackers looking to breach the structural and functional integrity of the platform. Blockchain technology offers a robust security framework that makes it difficult for hackers to make an incursion into the platform. There is no central point of failure and hence no single point of entry for malicious digital attacks. This ensures the safety and security of the data collected by field agents and the payment processing network. that provides an accurate accounting for the entire platform.

ABOUT NEOGAME

Neogame is a new lottery game that does not serve any beneficiaries, it has a zero house edge and no one will be able to access the funds, the only way to get them is to guess the winning lottery numbers.

Its mission is to transform the global gambling market into a non-profit and no-host model create a space where nobody makes money on games and nobody is interested to chase problem gamers.

The concept is to create a lottery that does not have an organizer and is not a business unit at all. Neogame will be governed solely by a lottery smart contract, which autonomously executes the game algorithm. The smart-contract holds funds, gets random numbers and distributes prizes in an absolutely clear linear manner. thereby hosts, intermediaries and any business people are completely eliminated from the game. There are only players playing with each other and the lottery smart contract that makes the no-commission game possible.

Neogame will function using Ticket Tokens (TKT) as both lottery tickets and prize fund currency. The supply is limited to 500 million tokens, and we will work to increase their value. When tokens value grows, the prize fund grows proportionally. If token value increases significantly, the jackpot size can be enormous.

The Competition

Check out this table below for the comparison of Neogame with the current market leaders

The TKT Tokens

Token determinations The lottery will utilize its own cryptographic mazuma – Ticket Token (TKT) – which depends on the Ethereum blockchain.

Ticket Tokens are utility tokens that have the following 3 functions:

Lottery tickets. The player buys tokens, selects a digital combination through a decentralized application and sends tokens to a lottery smart contract.

Assets included in the prize Fund. The prize pool consists of tokens, tickets, and all prizes are denominated in TKT. The prize pool is very easy to change as far as the token itself does, which allows you to scale the size of the jackpot as a price increase marker.

Cryptanalysis that can be traded with predictable exchange rate fluctuations. TKT will be registered via cryptocurrency exchange and its value is expected to become volatile and be subject to the tracked effects of the token’s growth factor.

TKT tokens are issued under the ERC20 standard, and are good with any wallet that backings Ethereum-predicated tokens. This enables the task to work uninterruptedly and inconclusively on the Ethereum blockchain, autonomous of some other outer factor.

Outflow There will be a constrained emanation of 500 million tokens. The savvy contract does not take into consideration extra token discharges later on.

Flow of tokens as a digital money The dissemination of tokens is conceivable expeditiously after the token deal. Posting on a main cryptoexchange is mundane inside 2 months after the token deal. A ultimate conclusion on the particular decision of trade will be made after the token deal.

Token Details

Start: 30 September 2018

End:30 October 2018

Cap: 100 000 ETH

(23 231 000 USD)

Goal: 2 000 ETH

(464 620 USD)

Price: 1 TKT = 0.00025 ETH

Token Development Drivers

The token deal will offer a rate of 4,000 tokens for each ETH, which will elevate to roughly 10 pennies for every token at the date of Whitepaper distribution. This is the underlying cost for a lottery ticket, and will be liable to changes because of free market activity.

Emission

There will be limited emissions of 500 million tokens. Smart contracts do not allow for additional emission of tokens in the future.

Token Distribution

Sales of tokens (80%) 400 million

Team (10%) 50 million

Advisor (5%) 25 million

Bounty and drop water (5%) 25 million

Circulation as a prize

The prize pool consists of TKT tokens, and its value will be volatile to the same extent as the token’s exchange rate Using Blockchain:Ethereum network,Token Contract Crowdsale contracts,and Lottery contract

Ethereum Network

Ticket Token generation and turnover, crowdsale process, and in the operation of Neogame as a lottery are powered by Ethereum Network, a decentralized platform that runs smart contracts. It makes Neogame run exactly as programmed without any possibility of crashing, censorship, fraud or third party interference for the entire blockchain lifetime.

Token Contract

Ticket Tokens will be issued in Ethereum Network using the ERC20 token standard and are compatible with any wallet that supports Ethereum-based tokens. They are used in three different capacities: as a tradable cryptocurrency, as lottery tickets and a prize pool asset. The supply of tokens is limited to TKT 500 million and no additional emissions are allowed by the token smart contract.

Crowdsale contract

Neogame fundraising will be held using a crowdsale smart contract. Contributors will send funds, in Ether, to the smart contract address. All assets collected on the smart contract will be frozen until soft cap is reached. If during crowdsale the soft cap is not reached, the smart contract will send all money back to the contributors

Lottery contract

Neogame is truly independent of any human control. It is governed exclusively by the lottery smart contract that autonomously invokes the game logic. The smart contract keeps funds, manages drawings, generates the lottery’s random numbers and gives away prizes in an absolutely clear manner. The content of the smart contract and all the transactions are kept in the blockchain and are easily traceable by anyone.

WHY IS NEOGAME UNIQUE?

Fully autonomous

Based on Ethereum smart contracts, the lottery will exist as long as blockchain exists. It doesn’t need centralized management, it will just gather funds from tickets sold and distribute them all among winners according to a fair and clear algorithm. Neogame will not serve any beneficiaries: nobody has access to its funds other than by correctly guessing WINNING lottery numbers.

Scalable Jackpots

Zero Commission

No lottery in the world offers such conditions for players as Neogame. It gives all raised funds to winners, while other lotteries usually leave 50% of funds for themselves and their projects. Moreover it’s up to 7 times more likely to win a jackpot with Neogame than with most popular lotteries. It is fully anonymous and winners can take their prizes immediately.

Waiver of ownership rights

The project team does not claim any ownership rights over Neogame. After the project is launched, the lottery will belong to the public: lottery players’ and token holders’ community. However nobody will have ownership rights over Neogame as well as nobody can affect the game.

Ethical Mission

Gambling addiction and problem gambling is a worldwide social issue, and this project is that designed to fight against irresponsible gambling. When the world gambling market converts to a nonprofit model, nobody will chase up gambling addicts anymore. This is our effort to make the world a better and happier place.

RoadMap