Crypto startup ETH888 has launched provably fair lottery games on the Ethereum blockchain, allowing players to participate via Status browser or Ethereum wallets with instant result generation.
Breakthrough Off-Chain Technology
Existing blockchain casinos typically require one block time or even minutes to generate random outcomes, costing players both time and high gas fees. ETH888's off-chain solution reduces result generation to under 3 seconds (about ⅛ of a block time) while cutting gas consumption by at least 50%. Beta versions are already live on the Ropsten testnet.
VAN Token Economy & Profit Sharing
The online gambling industry was valued at approximately $51 billion in 2017. ETH888 aims to build the most responsive decentralized lottery with maximum transparency and a reasonable house edge. The platform uses VAN tokens as its native currency, distributing 40% of house profits to the Vanil pool where token holders share profits proportionally. The first mainnet game is expected in Q3 2018.
Token Sale Details
ETH888 launched its VAN token sale on April 28, 2018, with a hard cap of 1,085,180 VAN over four weeks. Pricing tiers start at 400 VAN per ETH in week one, decreasing by 100 each week. The first tier ends May 5, 2018. Proceeds will back game payouts.
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