Pyth Entropy on Base

Published on: 28.05.2024

Pyth Entropy on Base, this deployment empowers developers on Base to tap into a reliable and secure source of randomness to power financial and creative enterprises such as prediction markets, NFTs, and Web3 gaming.

Pyth Entropy enables smart contract developers to access a reliable and secure source of randomness on-chain. Trustless random number generation (RNG) is crucial for Web3 applications that require unpredictable outcomes, including gaming, NFTs, lotteries, prediction markets, and more. As Pyth Entropy on Base.

Key Use Cases
  • Gaming and GameFi: Developers can create unpredictable game mechanics or obstacles.
  • NFTs: Ensures unique minting and random selection processes.
  • Prediction Markets and DeFi: Facilitates fair and random outcomes for prediction markets, like on-chain roulette or virtual horse racing.
Advantages of Pyth Entropy
  • Security: Built on a robust commit-reveal protocol, minimizing trust between participants and ensuring truly random results.
  • Speed: Utilizes a pull design where parties communicate directly on the blockchain, improving speed and simplicity.
  • Ease of Use: Integration requires minimal code and is permissionless.

 

About Pyth Network

Pyth Network is a unique oracle network that delivers secure, low-latency price data for various assets directly onto blockchains. It incentivizes leading market participants like exchanges and trading firms to contribute their valuable data to the network.

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SOURCE: PYTH NETWORK BLOG
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