• News
    • Bitcoin
    • Altcoins
    • Blockchain
    • DeFi
    • Regulation
    • Scams
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Videos
  • Blogs
  • Market Cap
  • Shop
What's Hot

ZachXBT warns suspected ZKasino fraudster may be linked to new crypto venture WhiteRock

2025-06-16

How and When Do I Take Bitcoin Profits? | Top Altcoins

2025-06-14

Why BTC Might Explode to $150K 🌕

2025-06-14

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

Facebook Twitter Instagram
Crypto Investor News Network
  • News
    • Bitcoin
    • Altcoins
    • Blockchain
    • DeFi
    • Regulation
    • Scams
  • NFT

    All Eyes on Art: Upcoming Collections to Watch the Week of February 4

    2025-02-05

    Creator of rabbit AI assistant has hidden NFT past

    2024-05-02

    Ethereum tops daily NFT sales at US$7 mln, ends weakest month of 2024

    2024-05-02

    Top NFT Airdrops and Giveaways for May 2024

    2024-05-02

    Casio Launches NFT Collection Celebrating 50th Anniversary

    2024-05-01
  • Metaverse

    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

    2025-01-03

    Experience to Earn: Everdome’s Metaverse Frontier

    2024-12-30

    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

    2024-12-13

    Exploring NetVRk: What Is Behind This AI-Driven Virtual Universe?

    2024-10-28

    Council of Europe Highlights Metaverse’s Impact on Privacy and Democracy

    2024-09-05
  • Analysis

    Crypto Exchange Coinbase Lists New DeFi Altcoin Project Built on Base Blockchain

    2023-12-13

    Ethereum Price Bears Keep Pushing, Why Decline Isn’t Over Yet

    2023-12-13

    Trader Bullish on Cosmos (ATOM), Says One Dogecoin Rival Setting Up for Next Leg Up – Here’s His Outlook

    2023-12-13

    AVAX Price Pumps 50% and Dumps 15%, Why Uptrend Is Still Strong

    2023-12-13

    Top Trader Predicts Parabolic Rally for Solana Competitor – Here’s His Upside Target

    2023-12-13
  • Learn

    What Is Fully Diluted Valuation (FDV) in Crypto?

    2025-06-12

    What Does FUD Mean in Crypto? The Fear, Uncertainty, and Doubt Effect

    2025-06-09

    What Is Crypto Staking? How to Earn Crypto by Holding It

    2025-06-05

    What Are Liquidity Pools? A Guide to DeFi Explained Simply

    2025-06-05

    What Is Yield Farming in Crypto? A Beginner’s Guide to DeFi Income

    2025-06-02
  • Videos

    How and When Do I Take Bitcoin Profits? | Top Altcoins

    2025-06-14

    Why BTC Might Explode to $150K 🌕

    2025-06-14

    Why Bitcoin Core Is Bitcoin

    2025-06-14

    🔥 Fri Fire: Gold & Oil Up, Bitcoin & Crypto Dive

    2025-06-13

    Bitcoin’s Red Light District Future?

    2025-06-13
  • Blogs
  • Market Cap
  • Shop
Facebook Twitter Instagram TikTok
Crypto Investor News Network
Home»Blockchain»LooksRare Incorporates Chainlink VRF to Facilitate Verifiably Random LooksRare Raffles
Blockchain

LooksRare Incorporates Chainlink VRF to Facilitate Verifiably Random LooksRare Raffles

2023-06-12No Comments2 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email


Blockchain


They have exerted considerable effort to assure the utmost transparency in the entire process. The central mechanism of their system is Chainlink Verifiable Random Function (VRF), hailing from the beloved decentralized oracle network.

The Implications of Chainlink VRF for Raffles

Chainlink VRF offers LooksRare a source of randomness that is not only immune to tampering but is also auditable. This system is leveraged to select the winning entries for high-value NFTs and LOOKS prizes.

At its core, Chainlink VRF can cryptographically confirm to the global audience that every raffle conducted is unquestionably fair and unbiased.

The Reason for Not Using Another Source

A random number generator (RNG) is indispensable for equitably selecting winners. In a situation where raffles occurred behind closed doors, an off-chain RNG would suffice.

However, that is not the case. Therefore, they sought a solution capable of:

  • Discouraging manipulation
  • Upholding data integrity
  • Guaranteeing transparency

While a block hash could generate random numbers, this system is vulnerable to exploitation by miners and validators, falling short of their requirements.

Chainlink VRF was chosen because of its proven resistance to tampering, providing users with indisputable evidence that winners of raffles are chosen fairly. With its ability to generate and verify cryptographic proofs on-chain, Chainlink VRF upholds the integrity of every random number delivered to the Raffles contracts.

Functioning of the System

Chainlink VRF operates by combining yet unknown block data at the time of request with the oracle node’s pre-committed private key, thereby creating a random number as well as a cryptographic proof.

The Raffles contract admits the random number input only if accompanied by a cryptographic proof, which can only be generated if the VRF process remains invulnerable to tampering.

See also  Analyst Unveils Breakout Targets for Binance Coin (BNB), Chainlink (LINK), Arbitrum (ARB) and Injective (INJ)

This system stands as evidence to all that the process of winner selection is free from any influence by the oracle, external entities, or the LooksRare team.


Chainlink Facilitate incorporates LooksRare Raffles Random Verifiably VRF
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Pyth vs. Chainlink, LINK or PYTH?? Ultimate Altcoin Battle!!

2024-11-12

Crypto News: BTC To Go Parabolic!? Pyth vs. Chainlink, Election Predictions & More!

2024-11-04

DeFi Protocol Cega Debuts ‘Vault Token Market’ to Facilitate Seamless Investing

2024-09-24

Chainlink (LINK) Continues To Witness More Development Activity Than Any Other ERC-20 Project: Santiment

2024-09-21
Add A Comment

Leave A Reply Cancel Reply

Top Posts
Videos

DCA Live: When Will CRYPTO Turnaround?

2025-02-24

Bitcoin #$ETH #TA $SOL $TSLA #Macro #Onchain #ETFs $MSTR #AI #Hack JOIN THE FAMILY: …

Videos

MAKE OR BREAK TIME FOR BTC!

2025-04-17

The crypto market is where large wealth gains are made! . Do you want $30000…

Scams

Man Behind $4,500,000,000 Bitfinex Hack Turns Into Federal Witness in Money Laundering Trial

2024-02-29

The infamous hacker who orchestrated the massive 2016 exploit of the crypto exchange Bitfinex has…

Subscribe to Updates

Get the latest news and Update from CINN about Crypto, Metaverse and NFT.

Editors Picks

ZachXBT warns suspected ZKasino fraudster may be linked to new crypto venture WhiteRock

2025-06-16

How and When Do I Take Bitcoin Profits? | Top Altcoins

2025-06-14

Why BTC Might Explode to $150K 🌕

2025-06-14

Why Bitcoin Core Is Bitcoin

2025-06-14
Crypto Investor News Network
Facebook Twitter Instagram TikTok
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Disclouser
© 2025 - All rights are reserved.

Type above and press Enter to search. Press Esc to cancel.

bitcoin
Bitcoin (BTC) $ 108,628.10
ethereum
Ethereum (ETH) $ 2,657.64
tether
Tether (USDT) $ 1.00
xrp
XRP (XRP) $ 2.32
bnb
BNB (BNB) $ 657.76
solana
Solana (SOL) $ 157.17
usd-coin
USDC (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.17951
tron
TRON (TRX) $ 0.27987
staked-ether
Lido Staked Ether (STETH) $ 2,655.25
bitcoin
Bitcoin (BTC) $ 108,628.10
ethereum
Ethereum (ETH) $ 2,657.64
tether
Tether (USDT) $ 1.00
xrp
XRP (XRP) $ 2.32
bnb
BNB (BNB) $ 657.76
solana
Solana (SOL) $ 157.17
usd-coin
USDC (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.17951
tron
TRON (TRX) $ 0.27987
staked-ether
Lido Staked Ether (STETH) $ 2,655.25