Blockchain oracle platform Chainlink formed a buzz within the crypto space. That is because of the multiple partnerships the projects entered over the previous years. Nevertheless, blockchains required continued expansion and innovation to remain relevant. That’s because of the many rivals ready to replace any project lagging. In that context, Chainlink released an updated version of its VRF (Verifiable Random Function) on the mainnet.

What Is New?

During the announcement, the platform declared that the Verifiable Random Function attracted more than 3 million transactions request from blockchain games and NFT projects. Meanwhile, the upgrade aims to reduce transaction fees by up to 60%, compared to v1.

Besides that, the upgraded VRF will provide improved subscription management, the capacity to regulate gas limits, request many random numbers within one transaction, and lengthened block validations. That is according to the announcement.

The VRF generates numbers randomly. Many cryptocurrency projects, including Bored Ape and P2E gaming Axie Infinity, leverage this mechanism. Chainlink stated that generating random numbers with cryptographic proof makes VRF deliver tamper-proof, provably fair, and verifiable results.

Randomized numbers remain significant within the blockchain space. That is because they help generate transactions and wallet’s private keys. Moreover, developers use them to mint NFTs securely and ensure fair results in blockchain gaming.

Axie Infinity COO Aleksander Leonard Larsen commented on the updates, stating that solutions such as VRF v2 by Chainlink remain vital from developers within the NFT and on-chain gaming experience, ensuring tamper-proof and fair play-to-earn games.

About VRF

The announcement declared that the VRF serves nearly 2,200 unique ‘smart’ contracts within many blockchains, including Binance Smart Chain, Polygon, and Ethereum. That includes several blockchain-based games and NFT projects. Furthermore, most of these projects target the metaverse as VRF ensures they fairly allocate ownership and randomize NFT values.

Besides the updated VRF version sounding exciting, it is the leading development in the Chainlink network over the recent past. The platform added nearly 720 integration over the past year, 100 in December alone. Furthermore, Chainlink has upgraded its ecosystem to ensure a friendly investment environment.

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