Lucky Block Case Study

Lucky Block (LB) is a crypto-based online lottery that uses blockchain technology to create transparency and fairness in the way the winners are selected and awarded. The new crypto-based online lottery platform transforms the way users experience buying and winning a lottery.

Unlike traditional lotteries that increase the cost of operations and are bound by national regulatory controls, the crypto-based lottery developed by the UK-based firm promises to go beyond national boundaries.

Project Summary

Lucky Block uses its native digital token LBLOCK, which is used for many tasks within the Lucky Block ecosystem, such as buying lotto tickets and distributing jackpots. Since prizes are paid out in LBLOCK rather than fiat currency, jackpots can be dispersed almost instantly – which is in stark contrast to the lengthy process that tends to occur in traditional lottery systems. The platform is developed using blockchain protocols and operates on Binance Smart Chain (BSC).

Business Challenges

Withdrawal of winnings is a notoriously slow process. It may include paperwork, administration fees, and bank transfers, creating a poor user experience with substantial time lapse between the time a player wins to final pay-out. The complexity of a traditional lottery increases in the absence of proper records about the purchaser. Furthermore, if a ticket is lost or destroyed, the owners would be unable to claim their prize.

Solutions

Brugu Software Solutions was mandated with developing the smart contract system and the token presale platform prior to listing on various exchanges including PancakeSwap, PooCoin, DEXTools, DeFi Swap, StakeMoon Exchange. The requirement also included creation of a unique user interface (UI) and user experience (UX) for the new platform and its deployment.

An expert team from Brugu delivered the DApp solutions, an in-game mechanism that draws the lucky winner on a chain and also builds a dividend strategy. Brugu also sketched out the dynamics of tokenomics, which was a big success, besides collaborating as technical partners for LBLOCK and for listing on StakeMoon.

Advantages

Improving validity using smart contracts

A smart contract is an electronic contract between two parties that use computers to enforce conditions and make transactions transparent. It is impossible to change the rules of an online blockchain lottery once it is set up.

Privacy

Casinos are increasingly turning to cryptocurrencies for payment methods, either as a replacement for fiat money or as the main one. Users can wager anonymously using bitcoins without submitting copies of their identification.

Accessibility

Because there is a low entrance barrier for new players and the ability to evade gambling rules that are applied to fiat currency, cryptocurrencies can make online gambling accessible.

Benefits

Traceability

Players may examine the preserved transactions in a transparent and verifiable manner because all of the records are kept on the blockchain. They can track down the source of conflicts if any arise in the future thanks to the platform's traceability feature.

Global Access

The makers believe that games should be worldwide and united, rather than linked to a single geographical place or a particular payment system.

Results

Brugu helped Lucky Block create a successful online lottery system that is driven by on-chain experiences. As a technical partner, Brugu helped Lucky Block emerge as one of the fastest platforms to achieve a $1billion market cap in the crypto space.

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