LooksRare, an active participant in the Non-Fungible Token (NFT) marketplace, recently disclosed their integration of Chainlink Verifiable Random Function (VRF), a tool from the leading decentralized oracle network. This technology will be used to ensure a completely transparent and unbiased selection process for winners of LooksRare Raffles.
Why Chainlink VRF?
Chainlink VRF goes beyond mere generation of random numbers, it offers cryptographic proof of the randomness. This unique feature helps maintain data integrity and prevent manipulation, ensuring an unwavering level of transparency. It’s the definitive solution for proving the fairness of LooksRare’s raffle draws, both to the public and the participants themselves.
Inside the Mechanism: Chainlink VRF at Work
The technical functionality of Chainlink VRF hinges on the combination of block data unknown at the time of the request and the Oracle node’s pre-committed private key. Together, these elements generate both a random number and a cryptographic proof. The raffle contract accepts the random number input only if a cryptographic proof is provided. This ensures the VRF process is tamper-proof and the raffle selection is unbiased.