The Blockchain Raffle
We are developing an online platform that allows users to host an online raffle. Anyone can create raffles, be it for good cause, personal gain or commercial promotion. Our concept combines commerce and lotteries which will create a new type of online market. We aim to establish a niche that runs exclusively on the Ethereum blockchain. Raffles are already popular but suffer from a lack of transparency. With the innovation of the Ethernet protocol, RAFL can provide a service to protect users from fraud. This creates a completely transparent and provably fair raffle which is safe for all. How it works. Choose your selling price and the number of tickets. When all tickets are purchased, one is chosen at random. The seller can list products at a higher price than current e-commerce platforms and auction sites, and at the same time users can try their luck to acquire goods for a fraction of their retail price. Users can also buy multiple tickets to increase their chances of winning. E.g.: A luxury watch worth $5000 sells 250 tickets at $20 each The raffle winner gets a watch with a value of $5000 for $20. The platform keeps 1% ($50) The seller keeps 99% ($4950)
RAFL is a provably fair Ethereum raffle DApp that allows users to either:
- Participate in a raffle Have the chance of winning an item for a fraction of the cost.
- Host a raffle Earn the maximum amount of capital for the item you wish to sell.
A raffle is a gambling competition in which people obtain numbered tickets, each ticket having the chance of winning a prize. Once all tickets are purchased, one is randomly drawn. If the participants’ ticket is selected from the random draw the participant wins the prize.