2 years ago
76 FinanceFeeds -
Oraichain has launched a Verifiable Random Function (VRF) on the Avalanche network, which allows developers to benefit from a decentralized, publicly verifiable random number generator that’s impervious to attack, delivering enhanced functionality to dApps.
The Artificial Intelligence-powered oracle and blockchain ecosystem supplier said that decentralized applications can benefit from its proprietary verifiable randomness generation because existing solutions – such as generating a random value through an API – are vulnerable to known abuses such as rerolling or rewrite attacks.
As gambling protocols and DeFi platforms, for example, are always closely scrutinized by their users and are targets of hackers who look to exploit some kind of vulnerability, the launch of Oraichain VRF 2.0 on Avalanche could change everything.
dApps running on Avalanche can now benefit from publicly verifiable random number generation that’s 100% tamper-proof and transparent, verifiable via a group signature verification process.
Fully on-chain VRF service that is publicly verifiable
Chung Dao, Chief Executive Officer at Oraichain, commented: “With the introduction of Oraichain VRF 2.0, for the first time ever, Dapps running on Avalanche are now provided with a fully on-chain VRF service that is publicly verifiable and impervious from known abuses like rewrite attacks or rerolling”.
According to the firm, whenever an Avalanche dApp makes a request for randomness with Oraichain VRF, the request will be emitted as an event from the Oraichain Mainnet via the Avalanche-Oraichain bridge.
The solution then binds a pairing-based threshold cryptosystem library to its smart contract to verify the validator’s signatures, creating a group signature on-chain.
Finally, it generates a publicly verifiable random value that’s submitted back through the cross-chain bridge to the VRF contract and, from there, to the Avalanche dApp.
Each signature contribution can be verified through a simple query to the VRF smart contract before it’s stored. Publicly verifiable random value generation is available as a plug-and-play service to Avalanche dApp developers and can be used as necessary directly with Oraiscan.
Avalanche developers using the Oraichain VRF can easily integrate publicly verifiable randomness into all kinds of DeFi and NFT applications.
Founded by Chung Dao, the Oraichain data oracle platform aggregates and connects Artificial Intelligence APIs to smart contracts and regular applications.
In late April, the OraiBridge subnet went live on OraiDEX to enable secure cross-chain transfers of assets. OraiBridge will be gradually functional in the upcoming updates, enabling the opposite direction and to other chains as well, in which Ethereum will be the next. In the meantime, Kucoin will act as an alternative bridge.
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