PancakeSwap, the largest DEX on the Binance Smart Chain network, recently added the new Lottery V2, which has received a tremendous amount of interest among users. For added security in daily lottery draws, PancakeSwap has now integrated the Chainlink verifiable random feature (VRF).
Chainlink VRF provides cryptographically secure randomness for blockchain-based gaming applications. It will provide a proven fair source of randomness that will select the winners in the PancakeSwap Lottery V2 dApp; along with a supporting cryptographic proof that verifies that the RNG process is tamper-proof. This implementation provides users of the protocol with automated and publicly verifiable guarantees that each random number draw is perfectly provable and fair, where there can be no tampering, predictions by the oracle, outside entities, or the PancakeSwap team.
With this integration, lottery players can be sure that all users have an equal chance to win prizes while enjoying the fun new game.The PancakeSwap Lottery has two drawings every day. Users can participate by purchasing tickets, each of which contains 6 digits. Prizes are defined by the number of digits on a ticket (and match the Chainlink VRF digits).
We have seen the new lottery become very popular, with the largest prize to date totaling around $ 1,165M (77,687 CAKE) in round 16. For this reason, it is important for PancakeSwap to provide transparency and security. to the process of selecting the winners so that neither party can unfairly influence the results.
The Lottery V2 smart contract will only accept random number input if it has valid cryptographic proof and cryptographic proof can only be generated if the VRF process is tamper-proof. Chainlink VRF provides an automated and publicly verifiable guarantee that every random number drawing is provably fair.
However, on-chain RNG solutions such as blockhashes, on certain occasions can be subject to manipulation by miners, likewise, off-chain random number generation solutions are opaque and do not provide proof of integrity. ChainLink VRF comes to overcome these obstacles on PancakeSwap.
The Chainlink VRF integration is very important to bring transparency to our random number draws, as any user can independently audit the integrity of the RNG to verify that it is fair, unpredictable, and tamper resistant. The development team makes it clear that they continue with a series of innovations in the protocol that will help investors to have more confidence, in this way PancakeSwap continues to consolidate in the market.