Frequently Asked Questions
Overview of Winchain
Technical Features of Winchain
How to get in touch with Winchain?
WeChat Customer Service:winchain01
What is Winchain?
Winchain is a blockchain-based underlying system developed by the Winchain Open Source Technology Foundation Team (“WOST team”) from Silicon Valley to support the operation of national-level lottery systems. With its in-depth blockchain technology know-how and unmatched industry exposure, the WOST Foundation team is trying to revolutionize the lottery industry through decentralized technology, and further develop the blockchain-based lottery technology into a new standard of underlying system behind lotteries around the world.
Does Winchain issue any tokens?
Winchain has issued WIN (WinToken). And WIN has listed on OKEx &COINMEX already.
What is the relationship between Star Miner and Winchain?
The Star Miner is the first landing application launched by the Winchain team, and also the first all-people interactive mining game based on blockchain technology. Each user who participates in this game not only can dig up WIN on his own mine, but also can steal WINs in their friends’ mine. By completing different tasks, the speed at which WINs are generated can be raised, and the user’s position in the entire game system will also increase. In order to get more WINs, users can go to their friend’s mine to steal WIN, which haven’t been collected. In the end, these WINs can be used not only for exchanging shopping cards, but also for the entire ecology of Winchain. They allow developers and participants to enjoy the various benefits conferred by ecology.
Where could we download Star Miner? What kind of token could we obtain?
The Star Miner is the first landing application launched by the Winchain team, and also the first all-people interactive mining game based on blockchain technology. The most difference between Star Miner and the popular mining games in the market is that users who participate in the game not only can dig up WINs on their own mine, but also can steal WINs from their friends’ mine. You can also participate in various activities to get more rewards. Star Miner was launched in May, which you can download from here:
What kind of organization is Winchain Source Technology Foundation? What is the specific governance structure?
Winchain Foundation is a non-profit organization registered in Singapore. As the main operating entity, Winchain Foundation is commissioned to promote and supervise the development of Winchain ecosystem, to coordinate industry resources from other countries, and to boost and facilitate the openness and transparency of the blockchain-based lottery underlying technology to be accepted as the industry standard of all countries, so to unleash the real value of the blockchain technology. The foundation will set up functional committees, including the board of supervisors, the board of directors, the executive director, the technology research and development, the committee for development and planning, the security audit team and the operation team.
What are the key milestones for Winchain?
(1)February 2018:
Winchain’s ecosystem partner obtains the lottery operating license for the national blockchain-based lottery in an African country. The team has started the work on building the lottery system on the Winchain.
(2)About July 2018:
The Hainan Lottery Research Institute will be established by the government and listed companies jointly, and promotes blockchain technology, especially Winchain and the recognition of its advantages on the lottery industry.
September 2018:
The world's first national blockchain-based lottery will be issued in this stage.
(3)April 2019:
Issued the world's first national blockchain lottery.
(4)Around Mid-2019:
Partners from all countries in the Winchain ecosystem will obtain the lottery operation and issuance licenses of at least five countries, and starts deployment of Winchain based block-chain lottery operating system; the number of new lottery games contributed by Winchain developer ecosystem will exceed 50; the amount of lotteries to be sold and issued through the Winchain system will exceed US$1 billion in equivalent each year, which will create a very promising future for the Winchain ecosystem.
What is the dual-chain mechanism? Why does Winchain use this mechanism?
Based on extensive experiments and testing, the team decides to use the dual-chain model of “public blockchain plus consortium blockchain” to support the lottery system. The public-chain serves as the base of the bookkeeper election mechanism. Because public-chain is complete open, more people can participate in the node registration and bookkeeping of the consortium-chain and get their rewards accordingly; the consortium-chain functions as the underlying business platform on the top of the consortium-chain, to support the lottery business operations and its surrounding ecosystem around the world. By combing the pubic and consortium blockchain networks together, the decentralization of rights, bookkeeping, and transactions are well achieved on the ecosystem whilst decentralized lottery games can enjoy instantaneous performance on Winchain at a very low cost.
What are the dual tokens that Winchain will issue?
The dual tokens are WinToken (WIN) and Lucky.
WinToken can be used as the access token of the Winchain system, the evidence of Winchain’s rewards, and the base for bookkeeping node’s election. Lucky is based on the consortium-chain, issued by government agencies and departments. When needed, users can buy Lucky directly at relevant application scenarios. Meanwhile, Lucky acting as exchange between valuable assets and digital tokens at a 1:1 exchange rate, so as to safeguard the value of the digital token. A constant exchange rate of 1 Lucky = 1 US$ is set and distributed on the blockchain network which provides exchange services to facilitate the purchase and exchange of lottery tickets on the Winchain.
What are the advantages of adopting Winchain ecosystem?
(1)Blockchain could revolutionize lottery’s control and operation by itself.
(2)New lottery games and its open ecosystem will reform the industry.
(3)Winchain’s decentralized lottery underlying system supports several application scenarios, including “classical lotteries”, “new blockchain-based games” and “chess & cards”.
(4)Winchain will conduct the big data analysis to optimize the lottery operation, adjust lottery playing rules accordingly, and further improves the superiority of the blockchain-based lottery system.
(5)Winchain will include a decentralized public fund utilization platform, through which the lottery operators from various countries can enjoy an open and transparent utilization of fund from public welfare lottery system for the blockchain technology.
What are the advantages of Winchain?
(1)Using the dual-chain (public chain and consortium chain) mechanism.
(2)Using smart KYC account management system and blockchain-based data management system: Safeguard trusted identity authentication and digital asset transfer security. Ensure that the entire process of buying lottery tickets is safe, convenient, open and transparent at any time.
(3)Using transaction processing system and oracle: To produce the absolute random number for the lottery draw and decentralize oracle under multi-point tendency. To ensure the security and reliability of data coming from the oracle, which is very important to the openness and transparency of any lottery system.
(4)Developer ecosystem: Open diverse developer ecosystem and support multiple scenarios.