Leading Oracle network pioneer Chainlink [LINK] has announced its latest batch of decentralized applications [DApps] with integrated oracle functions across prominent networks like Binance chain, Ethereum, and Moonriver. At the top of the list is the non-custodial lending platform Atlantis loans integrating with the Chainlink Price Feeds on Binance Smart Chain [BSC] mainnet. According to the post, the Chainlink support would provide access to real-time global market prices which is critical to the security of DeFi money markets.
Next on the list is the PlayToEarn gaming firm Dragonkartcom utilizing Chainlink feeds on the BSC to help mint NFTs with verifiably random traits and generate provably rare items in loot boxes as NFT-focused blockchain games require fair minting and distribution processes. In addition to that, having access to a tamper-proof and auditable source of randomness ensures more transparency and a fraud-proof user experience. Further, the blog stated,
In order to help ensure NFT mints and Mystery Combo boxes are unbiased in outcome for all users, we needed 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.
Leveraging Chainlink Data Feeds to Help Power dApps
Smart contract marketplace Transient has too jumped on the bandwagon of establishing support using Chainlink VRF securing through the generation and on-chain verification of cryptographic proofs that prove the integrity of each random number supplied to smart contracts. As a matter of fact, on-chain prediction markets require oracles to determine outcomes. Through this integration, the blog claims that LINK Price Feeds would help settle price prediction markets in its CryptoPool dApp. Apart from that, Transient also plans to expand into esports with support from Chainlink.
Lastly, crypto-asset lending protocol WePiggy has integrated Chainlink Price Feeds on the Moonriver mainnet in order to provide its users with stronger assurances that their collateral assets would consistently track global markets and without being affected by price manipulation.