Chainlink expressed: “Chainlink VRF v2 is now live on Ethereum mainnet. Featuring a new Subscription Management App, VRF v2 provides NFT creators and blockchain game devs with a highly configurable, gas-efficient, and scalable solution for accessing verifiable randomness.”
For those who are new,
Chainlink VRF v2 refers to verifiable random function, which is an improved version of the industry’s widely adopted random number generator.
Ethereum mainnet: There is only one public Ethereum Mainnet. Applications that are built on the Mainnet are able to interoperate.
Subscription Management App: The new VRF V2 provides an easy-to-use subscription management app and those who subscribe to the app or integrate will be able to access the source of randomness securely with 60% reduction in transaction fee.
NFT creators: With Chainlink VRF v2 upgrade NFT creators will not be empowered with a smart contract to built the next generation of scalable NFT and gaming applications.
Blockchain game devs: It is very important for blockchain game developers to make the randomness in the gaming process fair, exciting and secure. Blockchains and smart contracts will not be able to create true randomness on their own. Thus, Chainlink facilitates the oracle network which provides for a tamper proof on-chain randomness which is cryptographically secure and transparent on-chain.
Gas-efficient: The ability to adjust the callback gas limit when verifiable randomness is delivered. Technically, “gas limit for oraclize callback function.”
Sergey Nazarov, co-founder of Chainlink stated, “Over the last year, Chainlink VRF has become the industry standard for randomness in the blockchain sector. It is only with verifiable, tamper-proof randomness that it becomes possible to securely mint NFTs and their attributes, or ensure fair outcomes in blockchain-based games. Chainlink VRF has already become the standard randomness solution for the blockchain industry, and I believe the efficiency benefits of v2 will further accelerate its adoption rate across many new ecosystems.”
Randomness from other sources is vulnerable to exploitation and it can be easily manipulated. It can be truly random. Scammers can influence the randomness and influence the NFT and gaming mechanics to make things in their favor.
Community Reaction: Is this the reason for the Massive Pump? Congrats to the team for their work on this. Appears some significant changes to reduce eth gas overheads which should further increase node profitability. Looking forward to CCIP and staking!
When you tell these NFT pushers to Google NFT wash trading, they go completely silent, they don’t even try to argue with you.
A finance graduate, Maheen Hernandez has been drawn to cryptocurrencies ever since Bitcoin first emerged in 2009. Nearly a decade later, Maheen is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies. Appreciate the work? Send a tip to: 0x75395Ea9a42d2742E8d0C798068DeF3590C5Faa5
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