There is finally a use for all your BitF 😄
(if you haven't purchased any yet or you don't know what BitF is, check out the links at the bottom)
What is this?
A simple jackpot for BitF. You can "purchase" tickets by sending BitF to the current jackpot address. Every 0.1 BitF you send will give you one entry. Every 50 blocks one winning ticket is chosen that receives 99% of the pot and 1% is kept for running the server.
How does it work?
The jackpot application creates a new address every 50 blocks and initialises the round by sending a transaction to the address. After 50 blocks have passed (and at least 2 tickets were bought) a new transaction is sent back from the jackpot address. By adding up the two transaction ids, a winning ticket is chosen randomly. The BitF is sent to the winner and a new round is started. The source code of the application will be published soon.
On the page you can find a proof, that the last winner was elected fairly, by clicking on the "fairly" link, which looks similar to the following:
The start and end transaction id are converted using the following python function:
CHARS = "abcdefghijklmnopqrstuvwxyz0123456789" def convert(str): i = 0 for c in reversed(str): i *= len(CHARS) i += CHARS.index(c) return i
Next the two numbers are added up and the the modulo is calculated with the total number of tickets. The final number is the winning ticket.
How to enter?
Simply visit bitfjackpot.com copy the current jackpot address and use your wallet to send at least 0.1 BitF to the address. By sending 1 BitF you will receive 10 tickets for the round, by sending 1.5 BitF you will receive 15 tickets for the round and so on. Keep in mind that the jackpot address changes every round!
I set up a masternode that regularly sends all masternode rewards to the current BitF Jackpot. This means that you have a chance to win an additional 5.26603618 BitF each day! (according to masternodes.pro) If you want to set up a masternode yourself, check out the guides from the official team behind BitF - @bitf.