They’ve exerted appreciable effort to guarantee the utmost transparency in all the course of. The central mechanism of their system is Chainlink Verifiable Random Perform (VRF), hailing from the beloved decentralized oracle community.
The Implications of Chainlink VRF for Raffles
Chainlink VRF affords LooksRare a supply of randomness that isn’t solely proof against tampering however can be auditable. This technique is leveraged to pick the profitable entries for high-value NFTs and LOOKS prizes.
At its core, Chainlink VRF can cryptographically affirm to the worldwide viewers that each raffle carried out is certainly truthful and unbiased.
The Motive for Not Utilizing One other Supply
A random quantity generator (RNG) is indispensable for equitably choosing winners. In a state of affairs the place raffles occurred behind closed doorways, an off-chain RNG would suffice.
Nevertheless, that isn’t the case. Due to this fact, they sought an answer able to:
- Discouraging manipulation
- Upholding information integrity
- Guaranteeing transparency
Whereas a block hash might generate random numbers, this technique is susceptible to exploitation by miners and validators, falling wanting their necessities.
Chainlink VRF was chosen due to its confirmed resistance to tampering, offering customers with indeniable proof that winners of raffles are chosen pretty. With its capability to generate and confirm cryptographic proofs on-chain, Chainlink VRF upholds the integrity of each random quantity delivered to the Raffles contracts.
Functioning of the System
Chainlink VRF operates by combining but unknown block information on the time of request with the oracle node’s pre-committed non-public key, thereby making a random quantity in addition to a cryptographic proof.
The Raffles contract admits the random quantity enter provided that accompanied by a cryptographic proof, which may solely be generated if the VRF course of stays invulnerable to tampering.
This technique stands as proof to all that the method of winner choice is free from any affect by the oracle, exterior entities, or the LooksRare crew.