Tombola: Cryptocurrency Lottery and Gambling platform based on EOS⭐

jamesndungu (61)in #tombola • 6 years ago

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The gambling industry is one of the fasted growing industries thanks to the advancement of technology, blockchain is the newest modern-day technologies that is creeping into the gambling industry to solve the problems existing in the industry. One of the blockchain projects that plans to disrupt the gambling industry thanks to its innovative features is Tombola.

Tombola plans to solve the problems existing in the gambling industry by providing a solution, the problems include lack of transparency in the gambling industry, traditional gambling industry has been highly commercialized making the community lack trust in the processing of winning, game results and payouts.

TOMBOLA PLATFORM.

Tombola is a decentralized gambling and entertainment platform that uses blockchain technology to allow the tokenization of its economy, platform users will be able to earn tokens automatically in a transparent environment where the records are accessible for public scrutiny.

Users will be able to use cryptocurrencies in the platform and the winnings will also be in form of cryptocurrencies, the token minted for use on Tombola platform is Tombola (TBL).

TOMBOLA GAMES.

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Users will be able to play several games on the platform, they include Black and white, turtle chase, dice and speed lotto. The games will be processes through chain hash that automatically generates transaction hash, the players web-browser will generate a player seed – Game results will be determined by chain seed, player seed and nonce and published on the public blockchain for everyone to see.

Black and White.

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Black and white is a game where the layer has a fifty fifty probability of winning, the game has two camps black and white and players determine the side they want to choose, the blacks or the whites, the odds on this game are attractive and pegged at 1.98.

Turtle Chase.

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This is an exciting game where turtles race to victory, the turtles have different colors red, green and blue, the player chooses his favorite turtle and if it happens to win the player gets 2.97 Odds. The players choose the turtles themselves and since the games will be played with other peers there will be a winning mate making the game transparent and free of manipulation.

Dice 3.

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Dice 3 is a decentralized game played by participants in a peer to peer environment which allows them to select the and predict the results of dice roll, the players will be able to get up-to 1.98 odds which makes this an attractive game with a very high probability of winning.

5/20 Speed Lotto.

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Tombola operating fees will be reserved for use on the speed lotto, the amount dedicated for this are 10% of the operating expenses. This will allow speed lotto to be self-governed and managed.

How Tombola Is Changing the Gambling Industry.

(Video Source: Youtube - Tombola ICO Trailer - Official Video )

Tombola is bringing change in the gambling industry by bringing back trust, this is by making the gambling process to be transparent through automatically being broadcasted in the distributed ledger for all users to see. Tombola will also use smart contracts that will process the platforms operations the use of smart contracts will allow the platform get rid of human intervention which is the main cause of fraud in the gambling industry. Users will also be able to use cryptocurrencies to play on the game creating a borderless population of players, this will make Tombola increase accessibility. Using cryptocurrencies will also allow the players play anonymously which is one of the requirement players requests when they want to gamble. Players will hold Tombola Token as a sign of membership to the platform and the tokens will be able to earn them rewards when the platform is in operation. The platform will also reduce its operations costs by use of technology to process transactions, the users will also be able to use cryptocurrencies that breaks the barriers of financial cross border transactions.

Conclusions.

Tombola is one of the most promising platforms in the gambling industry that is using blockchain technology, the platform will be able to instill confidence and trust through operating in a transparent environment. The adoption of the gaming platform will determine the platform success, the business model of the platform makes the platform easier and enjoyable to make the penetration to the market easier. I have included the projects roadmap incase this article has sparked your interests and you would like to follow through on the platform developments.

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