

What is the Chainlink Verifiable Random Function (VRF) for DeFi



The secure solution allows smart contracts to create random numbers for numerous use cases on a blockchain.
Number One Verifiable Source of Randomness?
It isn't easy to create randomness on blockchains. The reason for this difficulty is that each node must arrive at the same conclusion to form a consensus. Chainlink created a Verifiable Random Function (VRF) to solve this problem by allowing smart contracts to generate random numbers.
Smart contract developers across blockchain use Chainlink’s VRF to generate tamper-proof random numbers. In essence, Chainlink VRF is a secure Random Number Generator (RNG) employed by developers to carry out specific functions in the Decentralized Finance (DeFi) industry.
Chainlink’s VRF has brought transparency to the entire cryptosphere. Since its inception in October 2020, numerous protocols across Ethereum, Polygon, and Binance Smart Chain (BSC) have integrated the secure randomness solution. The solution is a fair and verifiable source of randomness designed for smart contracts.

Secure And Efficient
The solution provided by the VRF is excellent because it ensures that smart contracts access randomness without compromising on security. Chainlink VRF generates a random number upon every request for randomness with cryptographic proof of how the number was generated.
The process is done to prevent anything or anyone from manipulating the results—it is verifiable, transparent, and inimitable. So far, the VRF has been unbreakable.
“The proof is published and verified on-chain before any consuming applications can use it. This process ensures that the results cannot be tampered with nor manipulated by anyone, including oracle operators, miners, users, and even smart contract developers,” according to Chainlink’s document.

As stated, many projects across the DeFi industry have utilized secure solutions for different purposes.
- ApeSwap utilizes Chainlink’s VRF to distribute $BANANA tokens to random Non-fungible token (NFA) holders over the Summer.
- PancakeSwap Decentralized Exchange (DEX) also uses Chainlink VRF to bring transparency to its lottery system.
- Moonpot incorporates the VRF for number generation on its win-win lotteries.
Chainlink VRF has brought fairness to lotteries, reward distribution, and many other random assignments of duties. Recently, the secure and efficient solution recorded a considerable milestone in the DeFi industry.
According to a BSC News publication from September 29, Chainlink VRF serviced one million requests in 35 use cases across BSC, Polygon, and Ethereum.
The solution is widely used, ensuring that several top projects in the DeFi space efficiently carry out numerous use cases.
For more information about Chainlink:
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This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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Related News

BASE, the sixth platform integrated into Chainlink's protocol, joins a growing list of supported blockchains.
Chainlink Expands its Reach
The Chainlink Cross-Chain Interoperability Protocol (CCIP) has officially gone live on BASE. This integration brings powerful cross-chain capabilities to developers on the BASE platform, offering a secure and user-friendly solution for creating cross-chain applications and services, according to the recent statement.
#Chainlink CCIP is now live on @BuildOnBase mainnet!
— Chainlink (@chainlink) September 27, 2023
Discover how CCIP is empowering apps built on Base to scale faster and connect to Web3's rapidly expanding multi-chain ecosystem 🧵👇https://t.co/AbiGprCx1J
With CCIP, onchain developers can reportedly harness a robust interface to build secure applications capable of sending messages, transferring tokens, and initiating actions across multiple blockchains.
At the core of CCIP's functionality lies the reliability of Chainlink's decentralized oracle networks. Chainlink's oracles have a track record of securing billions of dollars and facilitated over $8 trillion in on-chain transaction value.
BASE Joins Chainlink's Growing Ecosystem
BASE is the latest addition to Chainlink's expanding roster of supported blockchains. Previously, Chainlink had successfully integrated Ethereum, Polygon, Avalanche, Optimism, and Arbitrum into its protocol. This extensive network of supported blockchains is a testament to Chainlink's commitment to driving interoperability in the blockchain space.
Johann Eid, Chief Business Officer at Chainlink Labs, expressed enthusiasm about this collaboration, stating,
"The scalability and technological creativity of Base as a layer 2 solution, combined with an ever-increasing number of Chainlink services, is a boon for developers looking to build the next generation of cross-chain applications and services."
This milestone follows closely on the heels of Chainlink Price Feeds going live on BASE, providing developers with access to Chainlink Data Feeds and other Web3 services.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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