LooksRare Integrates Chainlink VRF
Chainlink VRF gives LooksRare access to a tamper-proof and auditable source of randomness. It’s what they use to determine the winning entries for blue-chip NFTs and LOOKS prizes.
Fundamentally, it can cryptographically prove to the world that every raffle is 100% fair and unbiased.
Wondering why they didn’t use another source?
Something like a block hash could be used to generate random numbers, but miners and validators can exploit this system. Not good enough for them (LooksRare).
LooksRare landed on Chainlink VRF because it’s verifiably tamper-proof, giving users definitive proof that raffles fairly select winners. Combined with its generation and on-chain verification of cryptographic proofs, Chainlink VRF ensures integrity in every random number supplied to the Raffles 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 Raffles contract only accepts the random number input if the cryptographic proof is provided, and that proof can only be generated if the VRF process is tamper-proof.
LooksRare is the community-first NFT marketplace that actively rewards traders, collectors and creators for active participation.
LooksRare’s smart contracts are custom-built within a modular system that enables new features to be rolled out over time – without compromising security – thanks to standardized signatures that clearly define the execution scope.
Chainlink is the industry-standard Web3 services platform that has enabled trillions of dollars in transaction volume across DeFi, insurance, gaming, NFTs, and other major industries. As the leading decentralized oracle network, Chainlink enables developers to build feature-rich Web3 applications with seamless access to real-world data and off-chain computation across any blockchain and provides global enterprises with a universal gateway to all blockchains.