thinlyspread Posted March 17, 2021 Share Posted March 17, 2021 (edited) OK guys this is just for fun, maybe it takes off or maybe it's a load of crap. But I get these XRPL ideas once in a while as you know. So I had a dream last night that I won the lottery ("lotto") but it was via XRP ledger, somehow... weird... so I woke up a few hours ago, had a coffee, and thought... actually, I wonder if that could be done on a blockchain?! (Maybe it already has been done – e.g. bitcoin mining is itself a kind of, sort of, lottery mechanism...) I have about 10 different variations in my mind of how it might work, and I'm sure you can all come up with tons too... remember this is just for fun, a quirky idea to encourage thinking about XRP ledger technology and features. Here's my basic concept thus far (only one cup of coffee in) but it's not written in stone: Payment (and reward) should all be in XRP – no gateways, trustlines, tokens, no counterparty etc. (Unless you think of a better way.) XRP pot should be in some kind of transparent, auditable account – maybe an escrow? Payment for "tickets" should ideally burn XRP (black hole address?) or somehow reduce XRP supply overall, as a net positive for the community. But ideally the project should be self-funding – I'd be happy to contribute a few XRP to start but it needs to scale with users. Needs a mechanism to adjust/calculate odds of winning so it's trustable but can be scaled as people play, and not gamed. Proceeds? When buying a "ticket" maybe some/all (?) of the funds goes into the pot? This goes slightly against the "burning" XRP idea; but a trade-off is that (a) some/all the XRP in the "pot" comes back out into supply again when someone wins, but (b) the pot expands and retracts in an automated fashion funded by ticket purchase, based on pot size. Suggestions, comments all welcome... but in the name of fun and experimentation. I literally typed this off the top of my head and have no coding skills. Could NFTs be involved somehow? How much would tickets cost? Is it set or variable? What about time period? Lottos work well as they build hype and interest over time as people see the pot grow and grow before the Big Day! Should there be some limit to stop whales trying to game it, or would the risk of not getting the rewards be enough to stop that? What about micro-payments/tickets? E.g. a fraction of an XRP is a "fraction of a chance". Could orderbooks somehow play a role, where a ticket is a token/issuance or even an NFT of some kind? What about charitable donations? I.e. some of the pot, or fees/tickets, going towards a cause. XRP ledger hooks? Useful? Memo fields? __________________________________________________________________________________________ @brianwalden @KarmaCoverage @RobertHarpool @tulo Edited March 17, 2021 by thinlyspread Prometheus_Rising and RobertHarpool 2 Link to comment Share on other sites More sharing options...
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