Liquidifty Integrates Chainlink VRF to Allow Transparent Transaction Check in all Future Events
We’re excited to announce that Liquidifty has integrated Chainlink Verifiable Random Function (VRF) on the Binance Smart Chain mainnet. By integrating Chainlink’s industry-leading decentralized oracle network, we now have access to a tamper-proof and auditable source of randomness needed to provide transparent randomness in our NFT packs sale and further activities. Ultimately this creates a more exciting, transparent, and fraud-proof user experience, as users can check all the transactions and be sure that all prizes are drawn randomly
In order to create transparent events with real winners — we need access to a secure random number generator (RNG) that any user could independently audit. However, RNG solutions for smart contracts require several security considerations to prevent manipulation and ensure system integrity. For instance, RNG solutions using on-chain data like block hashes can be exploited by blockchain miners, while off-chain RNG solutions like traditional data providers are opaque and don’t provide users with definitive proof about the integrity of the process.
After reviewing various solutions, we selected Chainlink VRF because it’s based on cutting-edge academic research, supported by Chainlink’s time-tested oracle infrastructure, and secured through the generation and on-chain verification of cryptographic proofs that guarantee the integrity of each random number supplied to smart contracts.
Chainlink VRF works by combining block data that is still unknown when the request is made with the oracle node’s pre-committed private key to generate both a random number and a cryptographic proof. The Liquidifty smart contract will only accept the random number input if it has a valid cryptographic proof, and the cryptographic proof can only be generated if the VRF process is tamper-proof. This provides our users with automated and verifiable assurances directly on-chain that Liquidifty is provably fair and cannot be tampered with by the oracle, outside entities, or the Liquidifty team.