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F.A.Q

Questions frequently asked by our community... 


 Q

 What is The Blockchain Lottery? 


 The Blockchain Lottery is a decentralized, non-profit and provably fair lottery game. One entry per wallet address. 

 Q

 How are the winnings calculated? 


 Winnings are calculated as followed;

  • N = ETHnetworkFee
  • E = entryCount
  • T = ticketCost
  • J = jackpot
  • D = developmentFee
  • W = finalWinnings
N = Gas Fees required by the Ethereum network - see here for realtime gas cost estimations
J = T * E
D = J / 200 (0.5%)
W = (J - D) - N
 

 Q

 How is the winner decided? 


  Each user choses a number upon entry, at the end of the draw these numbers are added together and converted to bytes before going through a hashing function, the contract then retrieves a winning number within the range of maximum lottery entries in order to decide the winner. The randomly chosen number input by each user is a vital metric for random number generation at draw end.  

 Q

 How long does each draw last? 


 Each draw lasts no longer than 7 days. If zero entries are made within a draws period, the next entry will roll over and be entered into the next draw, the draw will then be restarted for another 7 days. 

 Q

 What if I am the only lottery entry over the entire week / no one else enters? 


 You get your ETH back! As you are the only entry, the contract can only possibly choose YOU as the winner. You will receive your ticket cost back, minus ETH network and development fees.  

 Q

 What is a wallet address? 


 A wallet address is one of the key concepts that make cryptocurrency and the blockchain work. It isn’t quite as straightforward to define or explain as an email address. You first need to know about two other parts of a wallet in order to see how the address fits into the picture: a private key and a public key. The main difference is that you don’t use the same address to send cryptocurrencies as you do to receive it. 

 Q

 What's the difference between a private key, public key and address? 


 Private key: a 64 character long code using any combination of the letters A-F and the numbers 1-9. This is what you use to sign transactions to allow sending funds out of your wallet, and is therefore what needs to be completely secure and never shown to anyone but yourself.
Public key: a public key is the unique identifier for your cryptocurrency wallet that is known to the public. The public key operates in the background unless you want to dig into records.
Address: the address is another identifier, but it’s derived from the public key. This is the identifier people will enter to actually send bitcoin to you. An address is a single-use identifier that will be automatically generated for each transaction from your public key.