ETH93 Smart Contract Launches For Ethereum
ETH93 is running one lottery per day and gives no limits to how many tickets can be purchased. As such, the more popular each lottery is, the greater the jackpot but the lower the chance of winning. Lotteries are run by a number of 'smart contracts' that handle ticket purchases, distribute funds to winners and generate random numbers that determine the winner of each lottery. All smart contract code is written in the Solidity programming language and is entirely open source, allowing users with technical knowledge to view exactly how ETH93 lotteries are run and verify lotteries are indeed fair with winners picked entirely at random by an automatic process. The ETH93 smart contract can also be viewed to confirm 5% of ticket sales are indeed being donated to a charitable address. According to the ETH93 founder, such transparency would not be possible without running lotteries on Ethereum.
Of note is that as ETH93 runs on Ethereum, no ordinary fiat currency is exchanged. Rather, 'Ether' - the currency of the Ethereum blockchain - is used to buy tickets and pay winners. Tickets cost 0.01 Ether each, which is roughly equivalent to $3 USD at the time of writing. Ether is also used to contribute to the charity of choice for ETH93, Heifer International (Heifer is a global nonprofit and is not affiliated with ETH93 in any way). Heifer International is currently one of the few large global nonprofits with an Ethereum donation address, allowing the ETH93 smart contract to contribute automatically at the end of each daily lottery.
Those interested in learning more about ETH93 lotteries are invited to visit http://eth93.com. While the website provides information on the service (as well as statistics for the current lottery if the users browser is connected to the Ethereum mainnet through a plugin like MetaMask for Chrome), all lotteries are run entirely on the Ethereum blockchain, and thus lotteries are entirely decentralized. Participating in a lottery is also very easy for users who own Ether by simply transferring Ether to the ETH93 smart contract at address 0xdd2ee38f9993c0bc1c1b5b9798bc4deff66cac4a. Transferring 0.05 Ether to the ETH93 contract, for example, will give the user 5 tickets for that days lottery.
ETH93 is a decentralized smart contract running on the Ethereum blockchain, which automatically runs one lottery a day and gives a portion of proceeds to charity. All source code is public.
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