What is ChainLink VRF and How It Works

Bittime - With the development of innovation on the blockchain, the support system for this innovation also develops. Let's get to know Chainlink VRF, see how it works!

Check Today's Crypto Market:

What is ChainLink VRF?

In the field of blockchain gaming and non-fungible token ( NFT ) applications, many decentralized applications (DApps) require a secure and exploitable source for random number generation (RNG) to enable various functions such as executing airdrops, holding lotteries, or developing games based on chance.

ChainLink Verifiable Random Function (VRF) is designed to meet this need by leveraging a decentralized oracle network (DON) to enhance existing blockchains with verified off-chain data. Chainlink VRF ensures cryptographic randomness by leveraging a network of Chainlink nodes , which relay data to smart contracts while enforcing classic context mechanisms through a committee of these nodes.

By offering RNG capabilities for smart contracts, Chainlink VRF empowers developers to create more engaging experiences by incorporating random outcomes into their blockchain-powered applications. 

Additionally, the tamper-proof nature of randomness provided by Chainlink VRF ensures that it cannot be manipulated by any node operator, user, or malicious entity. This is achieved through leveraging private and public key pairs associated with each oracle in DON, where the private key remains off-chain while the public key is published on-chain.

Also read:

How Does ChainLink VRF Work?

Chainlink VRF operates using two keys to generate random, unpredictable values ​​that can be checked via proofs of correctness as well as ensuring secure, decentralized storage of individual keys for applications capable of general computing. 

Unlike insecure RNG solutions that rely on off-chain computing , Chainlink VRF's on-chain cryptographic verification incorporates on-chain block data as input to provide unbiased and tamper-proof results, even when there are compromised oracles in the network.

The superior capabilities offered by Chainlink's on-chain RNG solution enable a variety of use cases in the decentralized finance ( DeFi ) space, such as a fair gamified personal savings feature on PoolTogether, and providing real-time price data for Polkadot developers on Moonbeam.

Additionally, Chainlink VRF facilitates fair distribution of nonfungible tokens (NFTs), as seen in projects such as Polychain Monsters and introduces verifiable randomness solutions for on-chain games exemplified by Axie Infinity. 

As part of the Chainlink 2.0 ecosystem, Chainlink VRF provides the computing resources and infrastructure necessary for smart contracts to enable further levels of functionality. Collaborating with other decentralized oracle networks, it contributes to a general-purpose framework that developers can leverage with confidence.

How to Buy Crypto from Bittime

You can buy and sell crypto assets in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.

To be able to buy crypto assets at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds intowallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.

Monitor graphic movementBitcoin (BTC) price, Ethereum (ETH), Solana (SUN) and other cryptos to find out today's crypto market trends in real-time on Bittime.

Also Read:

What is Phishing? Examples of Cases in the Crypto Industry and How to Avoid Them

Telcoin (TEL): Blockchain Based Money Transfer Solution

Getting to Know Harmony (ONE): Innovative Blockchain for dApps

DISCLAIMER : This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.