About TAO5050
Our Mission
TAO5050 by Bit5050 is revolutionizing the raffle experience by bringing it to the blockchain. We're committed to creating a transparent, fair, and exciting platform for crypto enthusiasts and the Bittensor community. TAO5050's web3 50/50 raffle system assures our users that each 50/50 raffle is executed transparently, on-chain, securely, fast, and fun! 50/50 raffles on Bittensor EVM.
Why Bittensor?
Bit5050 chose the Bittensor ecosystem for its innovative approach to decentralized AI and its EVM-compatible blockchain (Chain ID 964). Bittensor EVM provides a solid foundation for TAO5050, delivering fast transaction speeds and low costs while being part of one of the most exciting AI-blockchain ecosystems. The EVM compatibility means seamless smart contract deployment using familiar tools and languages. "Bit5050 always felt like Bittensor was one of the most innovative and fastest-growing blockchain ecosystems. We decided to build TAO5050 utilizing all the great tools and infrastructure the Bittensor network provides," giving users a smooth, low-cost raffle experience on a cutting-edge chain. - Bit5050
Security & Transparency
Bittensor EVM allowed us to customize, build and design our dream DAPP. We designed the 50/50 Raffle system to be fully automated, transparent, fair (our random number generation process is verifiably fair) and secure. Every transaction, from the winners selection, creators of 50/50 raffles to the platform wallet is recorded on the blockchain for complete transparency. Powered by Bittensor EVM.
TAO5050's randomness and security model leverages multiple entropy sources from the EVM execution environment, including: the randomness beacon (block.prevrandao); future block hashes, which are unknown at the time a raffle is created and only finalized when the completion block is mined; time-based entropy from the block timestamp and block number at the moment the raffle ends; raffle-specific data such as creator address, start and end times, ticket count, prize amount, and all participant addresses; and transaction-level data like caller address, gas price, and contract address. Combined, these inputs make outcomes extremely difficult to predict or manipulate while remaining fully transparent and verifiable on-chain.
Community First
TAO5050 is part of Bit5050, a community-driven project. We believe in building a strong community around TAO5050. Our platform is designed with user feedback in mind, and we're constantly working to improve the experience.
"50/50 Raffles happen all the time at various venues and events all over the world. We just tokenized it and made a web3 version of it"
"All product no token, All service no token" We wanted to build something that was transparent and fair for the crypto community with real utility"
Bit5050