What Is Hubnate
Protocol, Interface#
To begin, we should make clear the distinctions between the different areas of "Hubnate", some of which may confuse new users.
- Netsyde Team: The team which developed the Hubnate protocol, along with the web interface.
- The Hubnate Protocol: A set of permanent, non-renewable smart contracts that allow you to donate to random people and receive donations in the form of ERC-20 tokens in the Binance Smart Chain blockchain.
- The Hubnate Interface: A web interface that allows for easy interaction with the Hubnate protocol. The interface is only one of many ways one may interact with the Hubnate protocol.
The following is a brief overview of the Hubnate protocol
Introduction#
The Hubnate protocol is a peer-to-peer cryptocurrency (ERC-20 Tokens) donation distribution system on the BSC blockchain. The protocol is implemented as a set of persistent, non-upgradable smart contracts.
What is the difference from a regular lottery?#
In a regular lottery, the prize pool is consolidated in a centralized location, and then distributed after a certain time. In the Hubnate protocol, the donation is immediately distributed randomly, depending on your chance.
How is donate distributed?#
When a user makes a new donation, the Hubnate protocol requests a random number from the outside world. Using this number, a random user is selected from the list of all possible recipients. The higher the chance of receiving a donation, the more records will be associated with a specific user. For example, if one user has a 70% chance, the second has a 20% chance, and the third has a 10% chance, the list of chances will look like this:
Where is the random number requested from?#
Since it is impossible to generate a random number in the blockchain, we use "Oracles". Oracles are needed to get something from the outside world. We use oracles Chainlink.
What determines the chance of receiving a donation?#
The chance of receiving a donation depends on the number of "Chance Tokens" (CT) on your account. After making a donation from your side, you will be entitled to a certain number of chance tokens.