Thread by @BSCNews

On blockchains, you can't create randomness since nodes must agree to form a consensus.

@chainlink developed a random number generator to address this issue using a Verifiable Random Function (VRF).

Let’s dig a little deeper ⬇️🧵 (1/7)

@chainlink The Chainlink VRF is a secure Random Number Generator (RNG) used by developers for specific purposes associated with Decentralized Finance.

The secure randomness solution is used by many protocols across #Ethereum, #Polygon, and #BNBChain. (2/7)

The Chainlink VRF guarantees smart contracts access to randomness without compromising security.

Every time Chainlink VRF requests randomness, a random number is generated with cryptographic proof of how it was generated. (3/7)

All proofs are published and verified before being used by consuming applications.

Users, oracle operators, miners, and even smart contract developers cannot manipulate the results in any way through this process.

Now let’ have a look at how some protocols use them: (4/7)

@ape_swap's $BANANA tokens are distributed through Chainlink's VRF to random holders of #NFTs.
Chainlink VRF is also used by PancakeSwap for its lottery system.
Moonpot uses the VRF to generate numbers for its win-win lotteries. (5/7)

Chainlink VRF brings fairness to lotteries, rewards distribution, and other applications.

Numerous top projects in the #DeFi space rely on the solution to efficiently complete various use cases. (6/7)

#BSCNews releases weekly @chainlink roundups. Here is last week's edition ⬇️

bsc.news/post/chainlink…

Did you find this thread informative? Let us know by commenting below. Don’t forget to follow @BSCNews and @Web3Wires for more #DeFi updates! (7/7)