Kibo Lotto Moves Forward, Launches in Ethereum Test Network
Bitcoin Press Release: Ethereum smart contracts is the next big thing, and with Ether constantly gaining steam, Kibo Lotto has set its eyes on the cryptocurrency for quite a long time. Of course, the use of Ether and smart contracts make lottery games 100-percent fair and verifiable, but that’s not the only reason Kibo has put too much effort in this venture.
Last year, the Kibo team has published a whitepaper describing an idea of creation of the first decentralized lotto platform with the goal of eliminating all existing drawbacks of this market for both players and affiliate partners. Now, it is fairness of drawings which is the main in the markets, garnering a volume of more than 500 billion USD.
The platform has been launched in Ropsten test network and now it is at the test level in which more than 500 platform owners participate. From April 28 to May 10, Kibo has received over 2000 applications for participation in the closed beta testing from partners. Despite being a tad limited, participants will be broken into three stages:
First group: 40 people
Second group: 80 people
Third group: 300 people
Access to the platform will be distributed among the users according to time periods. The registration date for each new group will depend on the results of the testing and the number of errors detected at each stage.
KIBO enables launching one’s own lotto with unique benefits for every player, in terms and profits of which are guaranteed by a smart contract. Kibo smart contracts are primarily programmed so that each owner of a Kibo Lotto branch always remains an owner of the audience attracted by it to the platform and keeps getting its commission fee for every ticket sold in spite of everything. With availability in any part of the world, absolute transparency and fairness of the game, and instant payments of any sums, what more can you ask for from Kibo?
In general, Kibo is planning on to complete all works in Testnet within 3–4 weeks. The testing platform is already open for access, and those who have not received the invitation will be able to observe the transactions carried out in the contract for each purchased ticket following this link: http://kibolotto.bet.
Possibly, this summer Kibo will be opened for 5,000 users who are already waiting for the platform launching.
For more information regarding developments in this wonderful blockchain-based project, you may visit their Medium blog: https://medium.com/@kiboproject/
Get the latest in Asian Bitcoin news here at Coin News Asia.