RYI Unity LLC (RYIU) Integrates Chainlink VRF for Secure RNG in UnityDefi Applications
We’re excited to announce that RYI Unity LLC, “the peoples’ defi solution,’’ has integrated Chainlink Verifiable Random Function (VRF) on Binance Smart Chain. Our team has already completed this deployment and is moving forward rapidly to add Chainlink oracle functions to many other areas of our ecosystem.
By integrating the industry-leading decentralized oracle network, we now have access to a tamper-proof and auditable source of randomness needed to provide users of our UnityDefi community draws with additional security and safety assurances around random number generation. Provably-fair and verifiably random data strengthens security of users and helps assure that players get a “fair shake” in the selection of winners in community draws.
Ultimately this creates a more exciting, transparent, and fraud-proof user experience thanks to the mitigation of concerns about corruption, exploits, or other bad actors meddling with your fun experience participating in community draws!
In order to provide confidence at scale for the randomness used within our smart contract systems, we need access to a source of secure randomness that any user could independently audit. However, random number generation RNG solutions for smart contracts require several security considerations to prevent manipulation and ensure system integrity. For instance, RNG solutions derived from blockchain data like block hashes can be exploited by miners/validators, while off-chain RNG solutions derived from off-chain APIs 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 time-tested oracle infrastructure, and secured through the generation and on-chain verification of cryptographic proofs that prove 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 UnityDefi 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 UnityDefi draws are provably fair and were not tampered with by the oracle, outside entities, or the RYI Unity LLC. team.
RYIU’s team is already exploring other Chainlink integration points to further help secure our:
- Mobile crypto/fiat commercial payment solution RYIPay
- UnityDefi DEX and trading applications
- Crypto asset wallet
- Safe Rockets and UnityDefi’s price feeds
- Community governance platform
“We chose Chainlink for these solutions for a simple reason, they solve real world security issues and the Chainlink Labs team provides an incredible level of guidance and support.” –RYIU CEO John Wier
Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.
About RYI Unity LLC
RYIU is a disruptive community based Defi solutions provider focused on delivering safe, secure, and transparent decentralized finance applications. Current focus is on our Decentralized Exchange Swap services.
In addition, we are producing crypto/fiat commercial payment solutions, crypto price feed aggregators, trading applications, crypto asset wallet storage systems, and NFT Marketplace Products — all operated within community governance.
Our mission is to provide safer, faster, easier crypto experiences for cryptocurrency users via our ecosystem.