VENTUP WILL INTEGRATE CHAINLINK VRF TO SECURE ON-CHAIN RANDOMNESS.

Ventup — a Cardano-powered IDO Launchpad for high-growth potential projects — will integrate Chainlink Verifiable Random Function (VRF) on the mainnet to secure a Decentralized Allocation System. By integrating Chainlink’s industry-leading decentralized oracle network, we can obtain access to a tamper-proof and auditable source of randomness needed to establish a provably unbiased platform. Ultimately this creates a more reliable, transparent, and fraud-proof user experience within the Ventup community, as users will have access to unique and promising projects in a secure, perpetual, and fair manner.

In order to secure the Ventup Decentralized Allocation System, 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. Both alternatives become increasingly concerning as the demand and value of the Ventup IDO allocation increases.

About 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.

About Ventup

The Ventup launchpad turns ideas into successful growth journeys. It’s where founders share innovative blockchain projects with the communities that will join forces to fund them.

VENT is empowering startups and investors with technology that supports sustainable growth. They work to make decentralized funding simple and accessible as they believe in financial inclusion and an economy where innovation can benefit society as a whole.

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https://blog.vent.finance/ventup-will-integrate-chainlink-54d7c45e035