The team of Gexan, a blockchain lottery application, have verified that the project will enter an Initial Exchange Offering on the P2PB2B.io cryptocurrency exchange on May 10th, 2019.
Based on a hybrid algorithm, Gexan provides a combination of parameters will allow players to mine lottery tickets by using their video cards or by investing in masternodes.
The Gexan team has been working on the project for more than 9 months and is ready to present the results:
- The hybrid blockchain (POW+POS) with the ability to install masternodes
- The first lottery 5/36 based on a smart contract
The blockchain algorithm (Phi-2) is not among the most popular in miners. So, GEX will benefit individual miners or small pools of them, where the power of each miner will have an essential role.
Gexan’s participants will also be able to install masternodes or just keep coins in their wallets for the reception of new lottery tickets every day.
Participants can sell GEX coins received on the exchange or play the lottery with them. The smart contract randomly generates numbers and automatically makes payments to the winners.
According to the founder of the Gexan project, Artem Vakhrushev, “The fair lottery is possible only based on Smart Contracts. No one, not even team members, can change the rules of the game. The Smart Contract is integrated into the blockchain and remains unchanged there. However, its source code remains open and everyone can be sure in the transparency of the draw generated.”
85% of the number of tickets sold is distributed to the prize fund.