Chainlink’s popularity has been soaring as it continues to explore the realm of decentralized finance [DeFi] as well as non-fungible tokens [NFTs]. It can be safely said that Chainlink has established itself as one of the world’s most popular decentralized oracle providers.
In the latest development, Chainlink announced that the integration of its Verifiable Random Function [VRF] with a DeFi-based NFT game called Technoking of Beats.
Technoking of Beats is set to leverage the oracle service provider’s VRF to arbitrarily establish which Beats NFT a user receives while determining to mint a new one.
According to the official press release, only 3000 Beats NFTs can be minted into existence, and Chainlink VRF will make sure that all surplus Beats are adequately accessible to the users using a fully random and tamper-proof distribution model.
In order for the game to determine the outcome of Beats draws in a confirmable and fair manner, there is a need for a tamper-proof and verifiable source of on-chain randomness. To top that, access to an unbiased source of verifiable randomness in blockchain environments is not easy.
On the same note, Technoking of Beats acknowledged,
“TO OVERCOME THIS DIFFICULTY, WE ARE INTEGRATING CHAINLINK’S VERIFIABLE RANDOMNESS FUNCTION (VRF), A HIGHLY SECURE RNG SOLUTION THAT IS PURPOSE-BUILT FOR SMART CONTRACTS.”
Chainlink VRF essentially operated by merging block data that is still anonymous when the request is made with the oracle node’s pre-committed private key to produce not only a random number but also cryptographic proof.
Off late, Chainlink’s oracles have been utilized for several emerging applications in the field of insurance, gaming, NFTs, among others. It is also important to note that, the use of its verifiable randomness function has also noted a substantial increase especially during the massive surge of collectible cryptographic tokens.
Besides, earlier this month, decentralized film financing platform, Mogul had revealed its integration with Chainlink’s VRF to ensure the security of its upcoming movie-based NFT marketplace.
The latest development comes just a day after Chainlink published its new whitepaper. This plan revealed the startup’s objectives of expanding into different horizons in the evolution of hybrid smart contracts.
Chainlink 2.0 infrastructure offers a much larger selection of use cases. With this, it aims to address aspects such as hybrid smart contracts, lowering complexity, scaling, privacy, unbiased transactions, reducing trust, and incentive-based security.
The whitepaper outlined:
“CHAINLINK DECENTRALIZED ORACLE NETWORKS CAN GO ON TO CREATE A DECENTRALIZED METALAYER THAT ENHANCE SMART CONTRACTS WITH HIGHLY SCALABLE, CONFIDENTIAL, AND SECURE FORMS OF OFF-CHAIN COMPUTATION, IN ADDITION TO THE EXTERNAL DATA THAT CHAINLINK ALREADY PROVIDES TODAY.”