BitcoinLotto:
Suppose the nation of Bitcoinia has decided to convert its national lottery to use Bitcoin. A trusted scratch-off ticket printing factory exists and will not keep records of any values printed. Bitcoinia proposes a simple design: a weekly run of tickets is printed with an address holding the jackpot on each ticket. This allows everybody to verify the jackpot exists.
The winning ticket contains the correct private key under the scratch material.
7.1. What might happen if the winner finds the ticket on Monday and immediately claims the jackpot? Can you modify your design to ensure this won’t be an issue?

7.2. Some tickets inevitably get lost or destroyed. So you’d like to modify the design to roll forward any unclaimed jackpot from Week n to the winner in Week n+1 .
Can you propose a design that works, without letting the lottery administrators embezzle funds? Also make sure that the Week n winner can’t simply wait until the beginning of Week n+1 to attempt to double their winnings.

Respuesta :

Answer and Explanation:

1.Since we only want the winnings claimed by the end if the week, we would have to make sure the keys on the tickets are not activated until the end of the week, also verification of winnings occur by end of the week. This way someone cannot immediately unlock their bitcoin on a Monday but may just scratch the ticket.

2. Bitcoin wallets cannot be unlocked without the private key and so there is no other option when ticket is lost as bitcoin cannot be retrieved. Therefore it is important that tickets are secured properly during production and after when issued to contestants

The tickets are available to anybody. However, scratching should be permitted on the last day of the week, which is Saturday.

If any tickets are lost or destroyed, there is no method to recover the bitcoin due to the current bitcoin nature.

Bitcoin and ticket:

The key to release the bitcoin should be date-protected and triggered on the week's last working day. So, even if someone buys a ticket on Monday and attempts to unlock it right away, he won't be able to till the end of the week. Fairness can be achieved in this manner.

The only method to avoid this is to protect the printing so that it cannot be stolen or destroyed during the ticket making process.

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