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PancakeSwap, an automated market (AMM) and revenue farm platform based on Binance Smart Chain (BSC), today announced that its mainnet has integrated Chainlink verifiable random functions (Virtual Reality).
Chainlink VRF provides cryptographically secure randomness for blockchain-based game applications. It will provide a provably fair source of randomness for selecting winners in Pancake Swap’s Lottery V2 application; and supporting cryptographic proofs to verify the tamper-proof RNG process.
PancakeSwap lottery review
- The PancakeSwap lottery draws twice a day.
- Users can participate by purchasing tickets, each ticket contains 6 digits.
- The prize is defined by the number of digits on the ticket (and matches the number in Chainlink VRF).
The breakdown is as follows:
“The new lottery has become very popular. The largest prize pool so far totaled approximately US$1.165 million (77,687 CAKE) in the 16th round. Considering the value of risk, it is very important to bring transparency and security to the winner selection process, so Neither party can unfairly influence the results. However, accessing the on-chain anti-manipulation random source in a verifiable manner is not as simple as it seems. On-chain RNG solutions like block hashing may be subject to miners’ Manipulation; the off-chain RNG solution is opaque and does not provide completeness certification. Overcoming these obstacles is why we chose Chainlink VRF for PancakeSwap Lottery V2.”
– PancakeSwap team
How does this work
Lottery V2 smart contract The random number input will only be accepted if there is a valid password proof, and the password proof can only be generated if the VRF process is tamper-proof. Chainlink VRF provides automated and publicly verifiable guarantees to ensure that every random number draw is fair.
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