0.Exchange Integrates Chainlink VRF
0.Exchange announced mainnet integration with Chainlink Verifiable Randomness Function (VRF)to ensure that ALL Launchpad participants have a provably fair and unbiased chance at being selected as a winner of various IDO allocations.
0.Exchange requires a secure and verifiable source of on-chain randomness to trigger the distribution IDO allocations in a provably fair and unbiased manner. They intend for ZeroGravity to be the fairest Launchpad platform that exists, however, obtaining access to a tamper-proof source of randomness that users can verify the integrity of is a challenging endeavor. For example, on-chain RNG solutions like block hashes can be manipulated by blockchain miners, while off-chain RNG solutions are often opaque and require extreme trust.
To overcome this hurdle, they are integrating Chainlink VRF, a highly secure randomness solution that is purpose-built for smart contracts and already provides randomness to numerous valuable blockchain-based gaming and DeFi applications.
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 0.exchange smart contracts will only accept the random number input if it has valid cryptographic proof, and the cryptographic proof can only be generated if the VRF process is tamper-proof. This provides users with automated and verifiable assurances directly on-chain that each 0.exchange IDO allocation using Chainlink VRF for randomness is provably fair and cannot be tampered with by the oracle, outside entities, or the 0.Exchangeteam.
What is Chainlink?
Chainlink is the most widely used and secure way to power universally connected smart contracts. With Chainlink, developers can connect any blockchain with high-quality data sources from other blockchains as well as real-world data. Managed by a global, decentralized community of hundreds of thousands of people, Chainlink is introducing a fairer model for contracts. Its network currently secures billions of dollars in value for smart contracts across the decentralized finance (DeFi), insurance and gaming ecosystems, among others.
What is 0.Exchange?
The 0.Exchange Protocol realigns incentives for network participants by introducing revenue sharing and community-driven network effects to the popular AMM model. 0.Exchange prides itself on freezingly low transaction and trading fees, 0 finality, 0 hassle, and 0 frontrunning!
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