The masternode-enabled blockchain lottery BitWin24 reveals its plans for the future

By Divya Bhatia
Published June 23, 2020 Updated July 8, 2020
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The masternode-enabled blockchain lottery BitWin24 reveals its plans for the future

By Divya Bhatia
Published June 23, 2020 Updated July 8, 2020

Blockchain-enabled lotteries with masternodes are not a new concept to the cryptocurrency world. Masternodes are real time copies of a blockchain network that are maintained 24/7 by masternode operators. They fulfill a variety of different functions, the most notable of which are block validation and transaction execution. Masternode owners are rewarded with a percentage of the value of each block they validate and are required to secure full time availability of the technical infrastructure as well as a minimum collateral in the form of the respective cryptocurrency, which ties their interest to the financial stability of the network.

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One new blockchain lottery using masternodes has stepped up the game by introducing three additional ways for its participants to earn recurring income in the long term, positioning itself as an innovator in the gambling sector. BitWin24 offers the possibility to earn money through masternodes, the jackpots of the lottery, staking contracts, a referral system and an airdrop program that acts as an catalysator for early investments.

The road so far

The team behind BitWin24 has been engaged in the cryptocurrency scene for more than 5 years now. After years of development, BitWin24 introduced the world’s first managed masternode pool to the crypto world with their first project GetNode. For those that are not familiar with masternodes, these are network nodes that keep real time copies of a blockchain network, thereby assisting it with block validations and transactions among other activities. GetNode was the first project to pool funds from multiple smaller investors and manage them, enabling them to become masternode owners and tap into an otherwise hard to access market due to requirements of high capital investments and technical infrastructure. Since the launch of GetNode, the community of masternode owners has grown to hundreds and their reviews have been overwhelmingly positive.

After finding multiple synergy effects with the concept of lotteries, the team came up with the idea for BitWin24, a blockchain-based lottery that enabled the usage of masternodes, offering a way for generation of recurring income while supporting the economy and the technical infrastructure required for its vital operations. After several years of development, the project was announced officially in November last year to the existing customer base of GetNode and several key investors. Shortly after, BitWin24 successfully completed their private sale, raising enough funds to lay out the foundations for the lottery and activate the BWI wallet. The team started with the pre-sale of masternodes and the community building after applying for all necessary licenses to become a fully compliant lottery in as many jurisdictions as possible, which enables BitWin24 to target the worldwide market and reach global adoption.

In March this year, BitWin24 listed all current BWI masternodes on the masternodes.online platform, initiated their global coin sale and most importantly, launched the WinChain referral system and the staking program through their online wallet. We would like to touch upon the two as they are unique features offered by the BitWin24 project. 

The referral program known as WinChain enables ambassadors bringing new players to BitWin24 to earn a percentage of their future winnings from jackpots and revenues from ticket sales. As the name suggests, the program enables chaining your referrals together, meaning that you can earn commissions off the referrals brought to the ecosystem by your direct referrals. This system can go as deep as 12 levels down the line for jackpot payouts and 3 levels for revenues from ticket sales.

The staking program offered through the BitWin24 online wallet is a simple way for both small and big investors that reinvents the concept of “hodl”. People who want to passively earn income without the need of investing, playing the lottery or seeking ways of bringing people to BitWin24 can simply deposit BWI coins in the wallet. The process is fairly easy and does not require any setup, prior knowledge or minimum investment to participate. The user deposits an amount of BWI coins of their choosing for a defined period of time (for example 3 months) and gets their stake back including an additional 20% once the contract has expired. 

What has BitWin24 planned for the future

Having a clear direction is key when it comes to bringing a complex project to life. Good planning is one of the fundamental requirements for becoming successful, especially in a market where the competition is fierce and the user expects a high degree of innovation and reliability.

BitWin24 has planned the ticket sale for the first draw and the launch of the lottery to happen in August 2020. Shortly after, the BWI coin will be listed for trading on leading exchanges and multi wallets such as Bittrex, Binance, Kraken, Bitpanda, Poloniex, Livecoin, Bitlish and more. The team will continue to work on the expansion of the ecosystem and the development of further markets with the goal of becoming a market leader in the lottery and betting sectors in 2021. For the foreseeable future, BitWin24 has set a target of developing an API for the integration of BWI to existing leading lotteries and gambling platforms and establishing it as a universal currency for payments.

An important feature of BitWin24 is their airdrop program, which rewards investors who contributed before the end of June this year with 10% of all future jackpots and revenues from ticket sales. The program is already live and everyone who becomes eligible to participate in it will be receiving their rewards automatically each month. 

Learn more about the BitWin24 project on https://bitwin24.com/en/

 

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Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Divya Bhatia
28 Articles
Divya Bhatia from Computer science background is a full-time content writer at Coingape. Her passion lies in writing and delivering apt information to users. Currently, she does not hold any form of cryptocurrencies. Reach out to her at [email protected]

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