Previously, we have seen art auctions using the blockchain technology as a means to record sales of artwork. Yet, what we have not seen is a charity auction that utilizes the network to choose winners.
The project was started by ChangeAngel, CryptoBantam, along with a cryptoartist named Trevor Jones.
The auction is centered around the previously mentioned artist’s work, which was heavily inspired by the first crypto coin, Bitcoin, and named “The Ecstasy”. The piece of art shows a character that looks obviously disturbed, while another one with golden wings reaches for them. A large golden Bitcoin could be seen in the background of the building.
To participate in the auction, customers must purchase tickets. After the competition closes this month, numbers will be assigned to each ticket and these will be released online.
After the list is conducted, a deciding block will be announced. The chosen block will be mined on the 4th of August right after the ticket sales stop. The winner’s ticket number’s digits should be the same as the last two of the hash.
Figuring out the hash was complex, almost impossible. Cheating this new system would be difficult, to say the least.
The beginning of the lottery was in July of this year.