150 Devcon blockchain tickets are issued using Ethereum

Blockchain is powering pretty much everything these days, and now Devcon blockchain tickets are made a reality for the upcoming Devcon5.

Devcon5 is the hot topic on the Ethereum blog. For those who aren’t aware, Devcon5 the fifth annual conference by the Ethereum Foundation.

The tickets for the event are quite limited- one hundred and fifty (150) to be exact- with one hundred (100) of them going to the raffle while the remaining fifty (50) being bid over in an auction.

Devcon blockchain tickets for Devcon5

Devcon5 will be held at Osaka, Japan on eight till 11 October. The raffle started yesterday on 22 Agust 2019, 5:00 pm GMT, and will continue until 24 August 2019 5:00 pm GMT.

The idea is to introduce a blockchain-based ticketing experience. The raffle is what the creators term as a “provably fair sale” because a transaction fee of two percent (2%) will be charged along with the raffle ticket.

The tickets are priced at nine hundred and ninety nine-nine euros (999 EUR), and the surcharge accordingly becomes two euros (2 EUR). The surcharge is for stopping buyers from making multiple transactions in order to increase their winning chances/ Once he raffle is over, the raffle fee will be returned to the non-winning customers minus the surcharge.

The sum total of the surcharge accumulated will be used for the Devcon Scholars Program, which aims to help developers from underprivileged backgrounds.

Bidding begins on 25 August 2019 and ends on 27 August 2019. The winning bids will be revealed from 28 to 31 August 2019. In order to avoid conflict among bidder, bids will be made private until the reveal day comes.

If any tickets are left at the end of the raffle, they will be distributed by being handed out to ticket buyers as appeals. An online application process will be used for the job.

It’s a good way to show off what the Ethereum network is capable of performing. Future prospects for such applications will bear fruit if everything goes as planned with Ethereum being the pioneer for the projects that are to be innovated in the future — hence proving again that it stands as silver against the golden Bitcoin (BTC).

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