Something we all have been waiting for! The Squid NFT World game ‘Jackpot’ giveaway is here, with a prize pool of 350 000 BSW:
To help ensure a high standard of fairness and transparency in the selection of winners in the event, we’re pleased to announce the integration of Chainlink Verifiable Random Function (VRF) on BNB Chain mainnet.
Let’s go further and find out more about this event and the verifiable random number generator (RNG) supporting it.
350 000 BSW Prize in SNW | Brief Overview
One of the game rules was that for each player who did not survive during the game, the organizer added a sum of money to a piggy bank that every player could see.
Biswap appreciates its users and wants to reward them for involvement and support. That is why 1 000 players of Squid NFT World will share rewards from the total prize pool of 350 000 BSW.
You can read all about the distribution right here:
Now let’s see how we’re using Chainlink VRF to help select winners in the ‘Jackpot’ giveaway.
Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.
Why Biswap Chose Chainlink VRF
Biswap aims to make users’ experiences fun and also fair. In order to help select provably random winners, we need access to a secure random number generator (RNG) that any user could independently audit. However, RNG solutions for smart contracts require several security considerations to prevent manipulation and ensure system integrity. For instance, RNG solutions derived from blockchain data like block hashes can be exploited by miners/validators, while off-chain RNG solutions derived from off-chain APIs are opaque and don’t provide users with definitive proof about the integrity of the process.
After reviewing various solutions, we selected Chainlink VRF because it’s based on cutting-edge academic research, supported by a time-tested oracle network, and secured through the generation and on-chain verification of cryptographic proofs that prove the integrity of each random number supplied to smart contracts.
Chainlink VRF works by combining block data that is still unknown when the request is made with the oracle node’s pre-committed private key to generate both a random number and a cryptographic proof. The Squid NFT World smart contract will only accept the random number input if it has a valid cryptographic proof, and the cryptographic proof can only be generated if the VRF process is tamper-proof. This provides our users with automated and verifiable assurances directly on-chain that the ‘Jackpot’ giveaway is provably fair and was not tampered with by the oracle, outside entities, or the Biswap team.
📍The distribution will take place on the specially created landing page of Squid NFT World.
“The Biswap team understands the critical importance of fairness and transparency in a giveaway event. Integrating Chainlink VRF into our giveaway helps us provide stronger assurances to our users that the selection process uses a tamper-proof source of randomness.” — EK, CEO.
Local TG Communities:
🇲🇨Indonesian-Speaking | 🇻🇳Vietnamese-Speaking | 🇷🇺Russian-Speaking
🇫🇷French-Speaking | 🇵🇹Portuguese-Speaking | 🇩🇪German-Speaking
🇨🇳Chinese-Speaking | 🇹🇷Turkish-Speaking | 🇪🇸Spanish-Speaking