🅱️Bit Lottery Theory

A decentralized lottery model based on Bitcoin's global computing power

By BitGPT

Bit Lottery is a new decentralized lottery model based on Bitcoin, which subverts the traditional lottery's methods of fund raising, prize guessing, prize drawing, and prize distribution.

BitLottery is different from welfare lottery endorsed by sovereign government agencies, different from existing Internet lottery, and even more different from gambling.

BitLottery's rewards do not come from users' investment funds, but from BTC rewards, GAS rewards and BitLottery ecological TOKENs from Bitcoin blocks. Users do not need to place bets, they only need to hold BitLottery hardware devices and BitLottery Virtual ASIC Miner.

The winning rules are that the BitLottery device they own calculates the correct hash value, which is upgraded from the manual selection and comparison of traditional lottery numbers to the automatic collision operation of hashes. A block is generated every 10 minutes to reveal whether you have won the prize, which happens 144 times a day, or about 52,560 times a year, compared to only about 144 times a year for traditional Powerball.

The goal of BitLottery is to establish a new blockchain lottery model that is independent of the lottery model endorsed by sovereign institutions and is endorsed by Bitcoin's global computing power.

This is a new lottery model that is suitable for the digital economy and blockchain since the birth of lottery. It is also the native gameplay of Bitcoin blockchain, which will create a new era of Bit lottery in the future.

This model also applies to any POW blockchain.