PancakeSwap Partners with Chainlink for Provable Fairness

PancakeSwap is on a roll yet again, and this time the platform has announced an integration of its mainnet with Chainlink VRF (Verifiable Random Function). The integration is important for empowering PancakeSwap Lottery V2 with provable fairness, according to PancakeSwap price prediction reports. Lottery V2 of PancakeSwap conducts two draws on a daily basis. The users of PancakeSwap buy tickets that carry six digits, and the winners are decided by matching the digits on the lottery ticket with the digits generated by Chainlink VRF. PancakeSwap Lottery V2 is incredibly popular owing to its rich prize pool worth $1.165M. The winners secure large chunks of the prize pool as lottery rewards, and as such, it is essential to maintain security and transparency in user selection.

Chainlink VRF, the foremost and most secure auditable random number generator (RNG), is all set to furnish Lottery V2 with provably fair randomness for the selection of lottery winners. Moreover, Chainlink is also providing the Lottery V2 application with a mechanism of cryptographic proof to verify the RNG as manipulation-proof. The integration with Chainlink VRF will ensure fair opportunities for all users to win prizes in the lottery. Chainlink VRF works by combining undisclosed block data and a pre-committed private key of the Oracle nodes. The combination generates a cryptographic proof and a random number for ensuring provable fairness. The smart contract of PancakeSwap Lottery V2 accepts random number input if the cryptographic proof is valid, and the cryptographic proof is generated only when the VRF process is manipulation-proof.

The integration of Chainlink VRF is crucial for ensuring transparency and fairness of the random number lottery draws of PancakeSwap. Chainlink VRF makes sure that every user can audit the fairness of the RNG independently for the verification of unpredictability of the lottery draws with the help of the robust Oracle infrastructure of Chainlink.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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