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A May 2017 confrontation over smoking in a non-smoking area outside a Melbourne, Australia, hospital resulted in the death of a cardiothoracic surgeon and a minimum 10-year sentence for the man who killed him with a single punch. Joseph Esmaili became the first person to be sentenced under Victoria’s one-punch…
The husband of a US soldier killed in Afghanistan was deported to Mexico last week, leaving the couple’s 12-year-old daughter behind, before ICE reversed itself and brought the man back to Phoenix. Officers arrested Jose Gonzalez Carranza, 30, on his way to his construction job last week and deported him…
Welcome to California Inc., the weekly newsletter of the L.A. Times Business section.
I’m Business columnist David Lazarus, and here’s a rundown of upcoming stories this week and the highlights of last week, which was marred by a plane crash and mass shooting.
The admissions scandal is getting…
There’s a new bitcoin cash lottery that uses the BCH blockchain as an oracle to provide true provable fairness in the game. Participants toss BCH into a pot and if the last few digits of the user’s transaction ID matches the target block’s hash they win the jackpot.
Bitcoin cash supporters have been discussing a new type of lottery system that uses the BCH chain to operate in a transparent fashion. Nakamoto Game was announced on March 6 and allows anyone to participate without registration. Basically, a user chooses to send a bet for 0.01 BCH or to place multiple bets by using the scannable QR code. The last alphanumeric digit of the transaction ID (TxID) that the user generated by sending BCH is their lucky number. The system uses a block height every three days which requires 400 blocks to find out the winner of each round.
So far there’s been a bunch of jackpots given away to random players and users can see the reward distribution on the website. The jackpots can vary in size and the current prize that will be rewarded in two days at block height 573,329 is approximately 1.92 BCH ($ 256). When the user’s lucky number (TxID) matches the last alphanumeric digits within the hash of block 573,329, the user wins that round. If no lucky number is found within the target block’s hash then the round rolls over into a new one. The creators of Nakamoto Game announced the lottery system on r/btc and the BCH community seems to like the idea.
“We’ve built the World’s first BCH-based lottery and it’s live,” explained the creators of the Nakamoto Game lottery. “No registration is needed and it’s 100% fair — When the jackpot finds a winner, it will payout instantly.”
Some Believe a Transparent Ledger Can Create Provably Fair Lotteries
After the block height is met and the lucky number is found, the winner takes 70 percent of the jackpot and 30 percent goes to the next round “in order to attract more users and build bigger jackpots.” The BCH lottery creators have detailed that the business takes 1 percent per transaction to fund the operation. Moreover, multiple winners can win the bounty of funds and all of the winners can be verified onchain. Yesterday 10 winners won over 2.6 BCH and the winning TxIDs were displayed on the site next to the “Current bets” tab.
“Congrats on the 33x jackpot,” Nakamoto Game tweeted. “We found 10 winners and the lucky number was “7” — The rule is that the winners take 70 percent of the pot, and 30 percent goes to the next round.”
So far the rewards have been stacking up and the pot that was distributed before the 33X jackpot was around $ 450 worth of bitcoin cash. Games of chance, gambling, and lottery systems have been a favorite pastime in society for thousands of years. These days online lotteries and wagers are very popular but people are unsure whether the games are truly fair. Many believe that cryptocurrencies can make such games provably fair due to the transparency tied to the Bitcoin Cash distributed ledger.
What do you think about the lottery Nakamoto Game? Let us know what you think about this subject in the comments section below.
Disclaimer: This article is for informational purposes only. Bitcoin.com does not endorse “Nakamoto Game” or any related companies or affiliates. Readers should do their own due diligence before taking any actions related to the mentioned companies, creators, associates, or any of its affiliates or services. Bitcoin.com and the author are not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. All choices are solely the responsibility of the reader.
Image credits: Shutterstock, Pixabay, and the Nakamoto Game website.
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North Korea’s lead negotiator in nuclear talks with the US, Kim Yong Chol, arrived in Washington Thursday, just hours after President Donald Trump rolled out a new missile defense strategy that appears to contradict his own claim that Pyongyang is no longer a nuclear threat.
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At least 16 people have died in avalanche-related accidents in Europe since the start of the year, as severe winter weather grips parts of the continent.
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White House officials and congressional aides are returning to discussions Sunday to find a way to reopen the government after emerging from the first round of weekend talks without a breakthrough. President Trump tweeted Saturday: “Not much headway made today.” The president later tweeted that he planned to go to…
In this edition of The Daily, crypto wallet Lite.im, which is integrated with popular messengers, has added support for BTC. Also, the online store selling Fortnite merchandise now accepts monero and esports company Unikrn has launched a crypto betting platform using technology from Bittrex.
Crypto Wallet Lite.im Adds Support for BTC
Lite.im, a cryptocurrency wallet that allows users to transact via Facebook Messenger, Telegram and SMS, has recently announced it’s adding support for bitcoin core (BTC). The service launched in August last year with three coins – ethereum (ETH), litecoin (LTC), and its native token, ZTX.
To take advantage of the service, users communicate with a chatbot which can send and receive digital assets on their behalf and provide information about current balances and transaction history. The platform manages private keys on behalf of users, encrypted and protected with a password.
Although this format is not the most secure way to store and transfer digital money, the wallet may appeal to frequent users of the popular messaging apps. Its developers, from Zulu Republic, have previously stated their main goal is to help spread the use of cryptocurrencies.
The announcement published on Twitter and Medium followed recently resurfaced rumors that Facebook is planning to launch its own stablecoin for payments and transactions within its ecosystem. Telegram, the most popular messenger in the crypto community, has been developing a token called Gram for its TON network, and a company called Cointext offers an SMS BCH wallet to users in a growing number of markets.
Fortnite Online Store Accepts Cryptocurrency
The merchandise store of the popular video game Fortnite has added a cryptocurrency to its payment options. The platform, Fortnite Retail Row, has started accepting payments in the privacy-centric coin monero (XMR). No official announcement has been made yet but the news was shared by gamers on Reddit and by Monero developer Riccardo Spagni on Twitter.
Fortnite, which was released by Epic Games in the summer of 2017, now has millions of players around the world. A poll conducted among teenagers in the U.S. last year listed the game’s virtual currency, V-bucks, among the most favored Christmas gifts, along with cryptocurrency, fiat cash and gift cards.
Fortnite’s online store accepts monero through Globee. The payments processor supports transactions in a number of cryptocurrencies including bitcoin core (BTC), ethereum (ETH), litecoin (LTC) and ripple (XRP). However, monero is currently the only coin available as a payment option for the Retail Row products.
Unikrn Enables Crypto Bets on Cybersports
Esports company Unikrn has recently launched a new service that allows users to place cryptocurrency wagers on cybersports events. The betting platform, called Umode, supports online crypto bets on competitive tournaments of popular skill-based video games such as Fortnite, Dota 2 and League of Legends.
“The system allows users of any skill level to place a bet and play a fair match using the games’ built-in matchmaking rankings,” Unikrn CEO Rahul Sood explained for Games Beat. Sood is also the founder of gaming PC company Voodoo.
The bookmaking service is now live in 41 U.S. states and other markets around the world, Venturebeat and Esportsinsider reported. The company says the platform is based on a proprietary distributed ledger technology, for which a patent is currently pending. It also features technology from U.S. crypto exchange Bittrex.
Unikrn has already acquired a crypto gambling license from the Isle of Man. Sood added that the license allows it to offer spectator betting on esports matches as well as skill-based betting on players’ own gameplay against others.
What are your thoughts on today’s news tidbits? Tell us in the comments section.
Images courtesy of Shutterstock, Fortnite.
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The post The Daily: Wallet Brings Bitcoin to Facebook, Fortnite Store Accepts Crypto appeared first on Bitcoin News.