NeoGame

ololatide (11)in #cyptocurrency • 6 years ago

Introducing Neogame, will kick-start this process of transformation and are confident that over time, most of the global gambling industry will adopt the non-profit model. The Neogame project stands in contrast to traditional lotteries, and we want to show the world how blockchain can become a game changer

Neogame, on the other hand, is a completely different game. This project makes the lottery non-profit and autonomous, capable of continuous operation and achieving full transparency via Ethereum blockchain. It will allocate all funds down to the last penny, by using a clear algorithm which is written into the lottery's smart contract

Neogame is a lottery with no host. It has no owners or third-party beneficiaries. As soon as the project is launched, the team will lose control over the lottery, and the project will start working as a decentralised autonomous organisation (DAO), governed by a smart contract.

Neogame will not generate a profit and, therefore, token holders’ profits will depend only on growth in token value, which is tapped into the project logic.

Comparison with other lotteries

Traditional lotteries have certain cons that Neogame does not have.

ADVANTAGES

Neogame is structured as an Ethereum smart contract. The terms of the smart contract that govern the lottery algorithm are protected by the Ethereum blockchain, The blockchain ensures the highest cryptographic protection possible to date. To hack the blockchain, one needs to have resources greater than half the capacity of the entire Ethereum network, which is supported by millions of miners around the world.
Neogame does not plan aggressive marketing campaigns targeted at players, as it goes against our ethical mission. However, in order to realize the project it is necessary to attract enough players. For this purpose, there will be an initial advertising campaign aimed at moving audiences from profit-making lotteries to Neogame.
Neogame is not subject to any jurisdiction. The project is not a commercial enterprise, has no owners, conducts no economic activities, and receives no profit. Neogame is organized without a management, and all transactions are based on the rules and algorithms embodied in the smart contract
Neogame operates as a decentralised autonomous organisation (DAO). The legal status of such organisations is not regulated by most legislations, although a number of similarly organised projects operate successfully on the cryptocurrency market
Neogame is not a company and will not conduct any economic activities. Making a profit and using business opportunities are not goals of the project and are impossible according to its nature.
The Neogame smart contract is a complete and self-sufficient mechanism capable of taking bets, conducting prize draws, and paying out prize tokens according to the algorithm.
The system will have no owners or beneficiaries. The project team that launches the lottery waives any ownership and management rights to this project after its launch.
Token specifications

The lottery will use its own cryptocurrency - Ticket Token (TKT) – which is based on the Ethereum blockchain.