Incorporation of Chainlink VRF
It's important to ensure transparency for DeFi jackpots to promote trust among users and ensure fair distribution of prizes.
Pandora is the first decentralized exchange to dish out a unique and lucrative decentralized jackpot system that allows its users to earn huge jackpot prizes just by using its products.
In this article, we look into how Pandora ensures transparency through this innovative offering.
Pandora’s Jackpot System utilizes Chainlink VRF (Verifiably Random Function) to ensure that all winning numbers are truly random and can’t be mathematically predicted and every round has fair drawings that give every player an equal shot at winning.
Chainlink VRF is based on cutting-edge academic research, supported by Chainlink’s time-tested oracle infrastructure.
Moreover, Chainlink VRF is secured through the generation and on-chain verification of cryptographic proofs guaranteeing the integrity of each random number supplied to smart contracts.
“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.
For each request, Chainlink VRF generates one or more random values and cryptographic proof of how those values were determined. The proof is published and verified on-chain before any consuming applications can use it.”
This process ensures that the end results of an oracle operation cannot be tampered with or manipulated by any single entity including operators, miners, users, and even Pandora’s developers.
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