When we talk about lottery app there is lots of myth most people don't trust the app because of the centralized database and no transparency. They all thought a winner is always a person from the lottery organization. There are several drawbacks to a web2-based lottery application:
- Centralization: Web2-based lottery applications are centralized, meaning that they are controlled by a single entity or organization.
- Lack of transparency: The lack of transparency in web2-based lottery applications can create distrust among users.
- Limited accessibility: Web2-based lottery applications are limited to a specific platform, such as a website or mobile application. This can limit the number of participants who can access the lottery, reducing its reach.
- High fees: Web2-based lottery applications charge high transaction fees, which can discourage users from participating in the lottery.
- Limited customization: Web2-based lottery applications have limited customization options, which can make it difficult to create a unique and engaging user experience.
ALL things can be sorted using WEB 3.0 powers The main USP is Hashing with Keccak256. keccak256 computes the Keccak-256 hash of the input. Some use cases are: Creating a deterministic unique ID from an input Commit-Reveal scheme Compact cryptographic signature (by signing the hash instead of a larger input).
Decentralization, Trust and transparency, Accessibility, Low fees: Web3-based lottery Dapps charge low transaction fees, as they do not require intermediaries or third-party services.
Overall, the benefits of web3-based lottery Dapps make them a promising option for creating fair, transparent, and accessible lottery systems. They offer a high level of security, trust, and transparency to users, while also providing a customizable and low-cost solution for developers.
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