Key highlights:
- Oraichain, an AI-powered Oracle and Blockchain ecosystem has released Oraichain VRF 2.0, which is designed to overcome the limitations of regular Randomized Number Generators
- Oraichain VRF 2.0 thwarts attacks by malicious miners
- Oraichain VRF 2.0 IS specially built to enable Fantom developers to quickly and easily integrate publicly verifiable randomness into highly-scalable and cost-effective DeFi products, NFTs, and gaming applications
Developers building on the Fantom blockchain now have access to a new verifiable random number generator tool thanks to the release of VRF 2.0 by Oraichain, the first-ever AI layer 1 for Data Economy and Oracle Services.
Oraichain VRF 2.0 is a completely decentralized and publicly verifiable random number generator. This will help developers offer improved capabilities for DeFi, NFTs, and many more use cases.
Bringing more development to Fantom and the broader DeFi space
Oraichain, an AI-powered Oracle and Blockchain ecosystem is out to bring substantial improvements to the DeFi space. By making verifiable random function services available on Fantom, Oraichain will help developers bring fairness to decentralized apps. The tool will also help validate the uniqueness of assets and stimulate healthy competition in NFT and DeFi.
It is important to note here that Oraichain is not just bringing verifiable randomness to Fantom. It is offering on-chain VRF, which is far superior to what traditional APIs offer. Random values derived from traditional APIs lack integrity guarantees. Meanwhile, the VRF services introduced by Oraichain guarantee transparency and tamper-proof outcomes.
Oraichain VRF 2.0
Oraichain VRF 2.0 is specially built to overcome most of the challenges facing randomized number generators that use on-chain data. Such generators are vulnerable to attacks from malicious miners. The new tool implements measures to prevent anyone from tampering with the randomness generation process.
In a statement, Oraichain’s Head of Community Relations, Duc. M. Tran, said:
“We are delighted to bring Oraichain VRF 2.0 to the Fantom Ecosystem. With Oraichain VRF, Fantom developers can access the necessary infrastructure to quickly develop highly scalable and cost-efficient DeFi, NFT, and gaming products augmented by publicly verifiable randomness.”
How exactly does Oraichain VRF 2.0 achieve its purpose? It generates random values and verifies their group signature instantly on-chain. This makes it impossible for any entity, including node operators, DApps developers and oracles, to meddle with the process.
Another reason Oraichain VRF 2.0 is secure is the fact that it decentralizes every aspect of the randomness generation process. To achieve this, it recovers the final group signature automatically from a preset threshold of VRF executors. A group of public keys is also used to verify the group signature.
To further improve transparency in its processes, Oraichain VRF 2.0 utilizes a smart contract to attach a hash function to its on-chain generated random values.
Giving Fantom developers the infrastructure they need
Oraichain’s infrastructure helps bring a high level of transparency to the industry. It allows users to distribute limited-edition digital assets, create unpredictable gaming scenarios, allocate rare characteristics to NFTs, choose airdrop winners, and more.
As hinted earlier, integrating Oraichain VRF 2.0 in Fantom-based DApps is not a complex process. It is more of a plug-and-play utility tool with an impressively simple verification process. It is also built directly on Oraichain’s mainnet 2.0 Layer 1 infrastructure, which comes with a built-in block explorer. The feature allows users to quickly query the blockchain when there’s a need to verify VRF output.
