Lottery.com Advances Project Nexus By Using Algorand (ALGO) To Power Gaming Platform

March 2, 2022 11:42 am

Lottery.com is a technology company that is changing the way the lottery is played through an innovative initiative called Project Nexus.

The project is essentially a blockchain-based gaming platform that will allow the company’s users to access lottery and gambling services in a secure and seamless fashion.

To support Project Nexus, the company has announced that they have selected to use Algorand’s blockchain network in order to support the development due to the need for speed, security, and scalability.

This recent change by Lottery.com could also end up being a leading indicator for how the online gambling industry could potentially change in the future through the use of blockchain.

Yahoo reports:

With a vision to create an environmentally sustainable platform that improves users’ gaming experiences, Lottery.com selected Algorand because of the blockchain’s focus on user safety, track record for consistent uptime, high performance, low-cost per transaction and stated commitment to a negative carbon footprint.

Tony DiMatteo, CEO and Co-Founder of Lottery.com, commented, “We’ve long believed that all gaming will eventually migrate to the blockchain because of its inherent transparency.

In selecting a blockchain for Project Nexus, Algorand checks all the boxes we were seeking.

Its technology contains a combination of high efficiency, low-latency, scalability and security, all of which are key attributes for games we expect to grow on the Project Nexus platform.

Additionally, Algorand was designed to be environmentally friendly, which aligns with our commitment to support our communities and the environment.”

Algorand has an extensive record of working with many organizations that have also utilized the blockchain’s open source technology to transform their business.

David Markley, Head of Business Solutions at Algorand, stated that this move by Lottery.com would essentially accelerate their transition from a Web 2.0 to a Web 3.0 model and would position them for more growth.

Algorand will also benefit tremendously as Lottery.com is a leading company that occupies a large portion of the market share within the online lottery and gambling sector.

As a result, successful implementation here would add to the list of practical real world use cases that Algorand already provides and paints a positive outlook for investors and ALGO holders.

GlobalNewswire.com reports:

Algorand is transforming economic models and economies of all kinds. Founded by Turing Award-winning cryptographer Silvio Micali, Algorand’s high-performing Layer-1 blockchain is unparalleled for bringing fast, frictionless, and inclusive technologies to users worldwide. Algorand is reshaping multiple industries – from TradFi and DeFi to new creator economies and beyond.

With a commitment to interoperability and consistent delivery, Algorand’s sustainable technology powers more participation, transparency, and efficiency for all.

As the technology of choice for more than 2,000 global organizations, the Algorand ecosystem is transforming the next generation of financial products, protocols and exchange of value.

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