Cloud mining platform and mining power rental service NiceHash puts a mind-blowing 25,000 mBTC at stake in their very special solo mining and block-chain lottery.
With the help of NiceHash’s multi-algorithm solo mining pool for both bitcoins and altcoins, the clients of the platform are able to boost their funds by participating in a kind of a virtual lottery. In total, there are about 3600 BTC in 144 blocks verified at NiceHash every day, with every ticker getting a player the possibility to win one of these block containing 25 bitcoins for successfully mining it.
Essentially, there are two options for clients to participate in the lottery: the first is by attracting other miners to the platform’s solo mining stratum servers (or rent hashing power from NiceHash or their subdivision WestHash operating in other jurisdictions), and the second is purchasing instant block-chain lottery tickets directly on the NiceHash official webpage to activate solo mining for 24 hours and try to mine as many bitcoins as possible.
NiceHash block-chain lottery may seem similar to traditional lotteries, but is nevertheless quite different from them. As you understand from its name, it is 100% powered by the BTC tech and block-chain incorporated, meaning nobody is physically or virtually capable of externally intervening with it to tamper with the mining data so as to prevent miners from winning the prizes.
Similarly, solo mining of bitcoins is completely different from the lotteries you can participate in on many virtual casino websites where no draw fairness provability functionality is provided to players. On NiceHash, your draw results are absolutely valid and reliable, and you will know exactly the amount of bitcoins you mined to win. Apart from that, the BTC prize is generated by the block-chain itself, and not provided by the operator, as in case with some dishonest casinos, which means you can do your best and win as many blocks as you want to – after all, the total prize you can get is not limited to 25 bitcoins!