On Wednesday, blockchain oracle solution Chainlink (LINK) introduced Chainlink Verifiable Random Function, or VRF, v2. As its developers pointed out, the new, improved version of the random number generator can reduce transaction fees by up to 60% compared to v1. Randomness is a core component of making non-fungible tokens, or NFTs, and gaming applications fair and secure. By themselves, blockchain and smart contracts cannot guarantee randomness, but rather an oracle network is required to deliver such solutions on-chain.
Since its launch, Chainlink VRF (v1) has become the most widely adopted random number generator solution in the blockchain industry, fulfilling over 3 million request transactions and currently over 2,200 unique across multiple blockchain networks. Provides verifiable randomness to smart contracts. Popular projects like Rugged Ape Yacht Club, Axi Infinity, EtherCards, and more rely on Chainlink VRF for randomness. “Only with verifiable, tamper-proof randomness makes it possible to securely mint NFTs and their features or ensure fair results in blockchain-based games,” said Chainlink co-founder Sergei Nazarov.
The Chainlink VRF generates a random number and cryptographic evidence of how that number was determined using a combination of unexpected block data and an oracle’s private key with each new request. The cryptographic proof is then published and verified on the blockchain to prevent vulnerabilities and exploitation.
In addition to going live on the Ethereum mainnet, Chainlink is planning deployment on additional blockchains such as Network Polygon and BNB. Major upgrades in v2 include advanced subscription management, the ability to adjust gas limits, expanded block confirmations, and being able to request multiple random numbers in a single on-chain transaction.
Alexander Leonard Larsen, Chief Operating Officer, Axi Infinity, commented:
“Verifiable random solutions such as Chainlink VRF v2 are essential for developers looking to introduce entropy into on-chain gaming and NFT experiences, empowering them to build fair and tamper-proof play-to-earn games.”
The Chainlink network consists of independent oracle nodes and data providers such as Deutsche Telekom’s T-Systems, Swisscom, The Associated Press and others. According to its developers, at the end of 2021, the network has accumulated more than $75 billion in value across hundreds of applications and a dozen different blockchains.
