LuckyLotto

LuckyLotto

Seamless Blockchain Powered Betting for Gamers

Created on 7th December 2024

LuckyLotto

LuckyLotto

Seamless Blockchain Powered Betting for Gamers

The problem LuckyLotto solves

Seamless Blockchain Powered Betting addresses key issues in traditional betting, such as lack of transparency, high intermediary fees, payout delays, and geographic limitations. By leveraging blockchain technology, it offers a decentralized, trustless platform where gamers can wager on esports matches, create private betting pools, and earn rewards securely. Transactions are recorded on an immutable ledger, ensuring fairness and eliminating disputes. Smart contracts automate payouts instantly upon verifying outcomes, removing delays common in centralized systems. With lower fees, enhanced security, and global accessibility, it provides a faster, fairer, and more efficient betting experience for gamers worldwide.

Challenges we ran into

  1. Ensuring Fairness with Oracles:
    One of the biggest hurdles was integrating reliable oracles to fetch real-time match results and ensure tamper-proof data for betting outcomes. We resolved this by using a decentralized oracle network like Chainlink to fetch verified, accurate results without relying on a single source.

  2. Gas Fees Optimization:
    High gas fees on the blockchain posed a challenge for small wagers. To address this, we implemented Layer 2 solutions, such as Polygon, to lower transaction costs and maintain scalability without compromising decentralization.

  3. User-Friendly Onboarding:
    Blockchain platforms can feel intimidating for non-crypto users. We simplified the onboarding process by integrating wallet options like MetaMask and social login alternatives, enabling seamless account creation and participation.

  4. Smart Contract Security:
    Writing and deploying smart contracts for handling bets required meticulous testing to prevent vulnerabilities. We overcame this by employing tools like Hardhat for rigorous testing and partnering with security auditors to verify the contracts before deployment.

  5. Real-Time Scalability:
    Handling high volumes of transactions during peak betting events was a technical challenge. By leveraging a combination of caching mechanisms and decentralized storage, we ensured the platform remained responsive even during heavy usage.

Each challenge helped us refine the platform, making it more robust, secure, and user-friendly for gamers worldwide.

Additional Features

During the hackathon, we introduced several new features to enhance functionality and user experience:

  1. Custom Betting Pools:
    Enabled users to create private betting pools with customizable rules, allowing friends and communities to bet on their terms.

  2. NFT Rewards:
    Integrated NFT-based rewards for top participants, adding a gamified layer of engagement and exclusivity to the platform.

  3. Real-Time Analytics:
    Built a dashboard showing live betting stats, match outcomes, and user leaderboards to provide more transparency and engagement.

  4. Multi-Chain Support:
    Expanded compatibility to support multiple blockchain networks (e.g., Ethereum, Polygon, BSC), giving users more options to participate with lower costs.

  5. Social Betting:
    Added a feature where users can invite friends, share bets on social media, and compete in community leaderboards to foster a social aspect.

These additions made the platform more dynamic, user-friendly, and appealing to both casual and competitive users.

Tracks Applied (11)

OnchainKit Pool Prize

The Lucky Lotto Game integrates Coinbase's OnchainKit to manage pooled prizes for players. By utilizing OnchainKit’s too...Read More
Coinbase Developer Platform

Coinbase Developer Platform

Checkout component pool prize

The Lucky Lotto Game utilizes Coinbase’s Checkout component to securely handle pool prize transactions. Players can easi...Read More
Coinbase Developer Platform

Coinbase Developer Platform

Best New Subgraph(s)

The Lucky Lotto Game utilizes The Graph to index and query blockchain data for enhanced gameplay transparency and user e...Read More
The Graph

The Graph

Build Innovative Consumer Apps on Base

The Lucky Lotto Game leverages the Base blockchain to deliver an innovative, consumer-friendly dApp that combines transp...Read More
Base

Base

Best use of Substreams

The Lucky Lotto Game leverages Substreams to process and index blockchain data efficiently in real time, ensuring fast a...Read More
The Graph

The Graph

Prize Pool

The Lucky Lotto Game is a prime example of utilizing The Graph's subgraphs to index and query blockchain data efficientl...Read More
The Graph

The Graph

Best project deployed in the Polkadot ecosystem

The Lucky Lotto Game integrates True Network Attestation Services with Polkadot by utilizing Polkadot Router Addresses f...Read More
Polkadot

Polkadot

Store your hackathon project data using Akave

The Lucky Lotto Game integrates Akave for storing and managing all critical project data, such as user game results, tra...Read More

Akave

Most Innovative dApp using True Network:

The Lucky Lotto Game showcases the innovative use of True Network's attestation services to enhance user trust and engag...Read More
True Network

True Network

Best Usage of True Network Attestation Service

The Lucky Lotto Game leverages True Network's Attestation Service to ensure fairness, transparency, and verifiability in...Read More
True Network

True Network

Best Reputation Model Created for your dApp using True Network: $500 Prize Each

The Lucky Lotto Game integrates True Network's attestation service to create a Reputation Model that tracks and verifies...Read More
True Network

True Network

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