How is DeFi Lottery Platform Development more efficient than the traditional lottery system?

Defi Development Services15 Jun, 2022Web Development

The lottery industry has been steadily growing since 2013. The industry once evaluated at $294.3 billion in 2016 is expected to reach $14.5 billion in 2026. Interestingly, decentralized finance (DeFi) is expected to play a major role in this growth. This is because despite this phenomenal growth, the global lottery industry remains plagued with issues like lack of transparency, regulatory crackdowns, fraud, and more. To make sure that the DeFi Lottery system development has the key components to solving all the industry challenges, we must first understand them.