CRYPTO NEWS & DATA SPACE

CRYPTO NEWS & DATA SPACE

Matterverse Integrates Chainlink VRF

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Matterverse has integrated Chainlink VRF on Polygon mainnet to Help Randomize Rewards for Metaverse Editors.

By integrating the industry-leading decentralized oracle network, they now have access to a tamper-proof and auditable source of randomness. It needed to help power randomized rewards for participants in community events, giveaways, and competitions. Ultimately this creates a more exciting and transparent user experience. As editors eligible for random prizes can now have high assurances that the randomization is provably fair.

In order to fairly reward editors, they needed 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 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 a time-tested oracle network, 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 Matterverse smart contract will only accept the random number input if it has a valid cryptographic proof. And the cryptographic proof can only be generate if the VRF process is tamper-proof. This provides their users with an automate and verifiable assurances directly on-chain that the getRandomNumber function is provably fair and was not tampered with by the oracle, outside entities, or the Matterverse team.

About Chainlink

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 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.

Website | Twitter

About Matterverse

Matterverse is a Toronto-based startup building the next-generation metaverse editor. Matterverse allows anyone to create, explore, and share a photorealistic open metaverse on any device in minutes. We have received investment from MiraclePlus (previous YCombinator China) and LD Capital and we have partnered with Nvidia and Agora.

Website | Twitter

SOURCE:
https://medium.com/matterverse/matterverse-integrates-chainlink-vrf-to-help-randomize-rewards-for-metaverse-editors-923d50c435ec

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