Definition ∞ Decentralized Lotteries are lottery systems that operate on a blockchain, removing the need for a central authority to manage draws or prize distribution. These systems utilize smart contracts to ensure fairness, transparency, and immutability of game rules and outcomes. Participants can verify the randomness of results and the proper allocation of winnings on the public ledger. They aim to provide a more trustworthy and accessible gaming experience.
Context ∞ Decentralized Lotteries appear in news as part of the broader decentralized finance (DeFi) and gaming sectors. Their appeal lies in their verifiable fairness, which contrasts with traditional lotteries that require trust in an operating entity. Regulatory bodies are beginning to examine these platforms, considering how existing gambling laws might apply to their unique, permissionless structure.
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