Lucky Pool

Frequently Asked Questions

Where do the rewards in the Prize pool come from?

The rewards come from all user funds from lottery tickets purchases. When users deposit funds to buy lottery tickets, these funds are automatically locked in the protocol's smart contract.

Are the funds locked in smart contracts safe?

Sure. which means that no one has the ability to control the funds deposited by the user before the prize is drawn. All ticket purchases and prize withdrawals are made automatically by the smart contracts that make up the Prize pool protocol.
Only after a prize has been drawn can the winner withdraw the prize and the agreement administrator withdraw the service commission. Any process is secure.

Are there any restrictions on withdrawing my winnings if I win?

Of course there are no restrictions, the winner can withdraw all your winnings at any time, all this is done automatically by the smart contract protocol, the winner only needs to pay Gas.

What is a blockchain lottery?

A blockchain lottery is a type of lottery that uses blockchain technology to create a decentralized and transparent system. In this system, the results of the lottery are recorded on a blockchain, making it impossible to manipulate or tamper with the results.
How does a blockchain lottery work?
In a blockchain lottery, the lottery entries are recorded on a blockchain. The winner is chosen through a transparent and verifiable process that is also recorded on the blockchain. The use of blockchain technology ensures that the results are fair and cannot be manipulated.
What are the benefits of a blockchain lottery?
A blockchain lottery offers several benefits, including transparency, security, and decentralization. Because the results of the lottery are recorded on a blockchain, it is impossible to tamper with the results or manipulate the outcome. This ensures that the lottery is fair and transparent.
Can I participate in a blockchain lottery from anywhere in the world?
Yes, because blockchain lotteries are decentralized, they can be accessed from anywhere in the world. All you need is an internet connection and a compatible digital wallet to participate.
Is it safe to participate in a blockchain lottery?
As with any online activity, there are risks associated with participating in a blockchain lottery. However, because blockchain lotteries are decentralized and transparent, the risks are minimized. To ensure your safety, be sure to participate only in reputable blockchain lotteries and take necessary security precautions, such as using a strong password and securing your digital wallet.
What are the differences between traditional lotteries and blockchain lotteries?
Traditional lotteries are usually operated by government agencies or licensed operators, and are heavily regulated. The process is often opaque, and there is a high degree of trust required in the operator. In contrast, blockchain lotteries are built on top of a blockchain platform, which provides transparency, immutability, and security. The process is completely transparent, and the rules of the game are encoded in a smart contract, ensuring that the game is fair and cannot be manipulated.