TALLINN, Estonia, Dec. 10, 2021 /PRNewswire/ -- NFTmall announces the integration of Chainlink Verifiable Random Function (VRF) into the NFTmall ecosystem on Ethereum and Binance Smart Chain (BSC) and Avalanche mainnets. By integrating the industry-leading decentralized oracle network, they now have access to a tamper-proof and auditable source of randomness needed to help mint genesis NFTs with provably random traits and also help ensure that each user has a chance to receive the rarest items from blindboxes.
The integration of Chainlink VRF leads to a more exciting, transparent, and fraud-proof user experience as users have on-chain proof that rare NFT traits and the most collectible items from blindboxes were generated in an unbiased manner, meaning each user has an equal chance to receive the most collectible NFTs and items.
NFTmall will be using Chainlink VRF for provable randomness in their upcoming Founder NFT series "Angry Eaglets" and also in all of their upcoming NFT & GameFi-related products.
Instead of using centralised price feed, NFTmall will use Chainlinks tamper-proof 100% uptime on-chain price feed for pairs like AVAX/USD, BNB/USD, ETH/US
NFTmall is a multi-standard, multi-chain NFT platform where talented artists (creators) produce and display their skills while earning incentives without third-party interference. It also allows collectors and affiliates to earn while having fun. NFTmall is also the world's first physically-redeemable NFT marketplace where users can redeem various NFTs for their physical, real-world equivalents and get them delivered to their doorsteps. Options range from Canvas, Framed Canvas, Digital Frames, and more. The redemption feature is soon to go LIVE as well, bringing new functionality to NFTs worldwide. NFTmall is not just a marketplace but a community where there is a governance token known as GEM that helps empower creativity and a community-focused approach to NFT production, yielding, and staking.
Why Did NFTmall Choose Chainlink VRF?
In order to help ensure NFT mints and blind boxes are tamper-proof and unbiased for all participants, NFTmall needs 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," said - MD Rakib Ahamed, CEO & Founder of NFTmall.
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 NFTmall smart contract will only accept the random number input if it has 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 our genesis NFTs and blind boxes are provably random and were not tampered with by the oracle, outside entities, or the NFTmall team.
"Chainlink VRF is the game-changing technology we needed to bring NFTmall to the next level," stated MD Rakib Ahamed, Founder and CEO of NFTmall. "We look forward to further integrating Chainlink decentralized services to enhance the functionality of our NFT marketplace."
About Chainlink
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.
Learn more about Chainlink by visiting chain.link or read the documentation at docs.chain.link.
About NFTmall
NFTmall is a cross-chain, multi-standard marketplace. It is the world's first creator-centric, Defi & e-commerce powered, physically redeemable NFTmarketplace. It is live Mainnet on BSC & Ethereum and plans to launch its mainnet on Polygon, Avalanche & other networks very soon. NFTmall has continued to elevate the NFT marketplace to bring the most pleasing user experience and veracious ability to explore interoperability in the NFT metaverse.
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Contact:
MD Rakib Ahamed
rakib@nftmall.io
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