Introducing Binance Oracle VRF: The Next Generation of Verifiable

Introducing Binance Oracle VRF: The Next Generation of Verifiable

written by John Murphy | March 21, 2023

Binance Oracle VRF is Verifiable Random Function (VRF) solution that allows blockchain developers to generate random numbers.

Binance Oracle VRF can be used for various use cases, such as the GameFi project and other blockchain products built on smart contracts.

Read below to learn how VRF works, why you need randomness in your blockchain applications, and how Binance Oracle VRF can help your project or business.  

Why Does Blockchain Need Random Numbers?

There are various scenarios where blockchain applications require randomness. Some examples are:

  • Creation of blockchain-based games.
  • Assign tasks and resources.
  • Sample selection for consensus mechanisms.

For example, randomness helps his GameFi developer create a blockchain-based poker game.  

Developers must convince users that poker games use fair and unbiased algorithms. For example, decks of cards are randomly shuffled, and no one, including developers, can tamper with the game.  

What’s Under The Hood

VRF combines these two independent sources to generate the seed. Randomness built by an off-chain provider using a private key is generated from her two parameters: block hash and pre-seed. This ensures the unpredictability of proof, as the block hash cannot be predicted until the block is generated.  

Proof provided off-chain ensures that randomness is generated from block hash and preseeded and cannot be invented by malicious vendors. This makes this randomness testable. 

Integrate With Binance Oracle VRF Today  

At Binance, we strive to provide developers with the tools they need to create innovative and secure blockchain applications.

Start building industry-leading RNG solutions and experience next-generation verifiable on-chain randomness.  

The Challenge Of Creating Randomness

When generating randomness, the good output must meet four criteria:

  • Unbiased,
  • Unpredictable,
  • Verifiable, and
  • Readily available

Many blockchain developers find it challenging to generate on-chain randomness in their applications. Due to the deterministic nature of the blockchain. Need help to meet the impossibility. 

On the other hand, relying solely on simple off-chain oracle providers can force developers to compromise the availability or, worse, security.

If a malicious provider injects predictable randomness in a given context, an attacker can exploit the situation to a definite advantage. Imagine a loot-based game where players can open chests over and over again until they get the items they’re happy with. Or a card game where players can draw again and again until they get a good hand. 

What Is A Verifiable Probability Function (VRF)?  

A Verifiable Random Function (VRF) is a random number generator (RNG) that can cryptographically prove that its output is random.  Quick summary of how this works.

  • A series of inputs are fed into the VRF.
  • VRF computes the input and produces a pseudo-random output.
  • Anyone can always cryptographically verify that the output is random.
  • All evidence is published on-chain and verified before any application consumes the output.  

Binance, one of the world’s leading cryptocurrency exchanges, has recently launched its next-generation verifiable randomness solution, called Binance Oracle VRF. The solution is aimed at addressing the issues of transparency and security in the generation of random numbers, a critical component of many blockchain-based applications.

Binance Oracle VRF is a significant innovation in the blockchain industry, providing a reliable and secure solution to the challenges of generating random numbers. The technology will help to enhance the trust and transparency of blockchain-based applications, opening up new possibilities for their adoption and use.