The concept of a decentralized lottery is gaining traction in the lottery industry due to the transparent and secure features it provides to participants. These lotteries differ from traditional lotteries in that they are always committed to fairness, which is one of the most important factors in building user trust.
However, despite the fact that decentralized lottery platforms are expected to be provably fair and completely free of any form of manipulation, there are still a number of these sites that do not prioritize this, singlehandedly operating their so-called smart contracts in an opaque manner that makes it difficult for users to ascertain how the winning and other processes are carried out.
That is why MegaMoon decides to stand out by using a trustworthy third-party mechanism called Chainlink VRF (Verifiable Random Function) to make sure that all ticket purchases, lottery winnings, and other lottery-related activities are carried out independently of the platform’s team members, whether directly or indirectly.
In this article, we will look at why provable fairness is important in decentralized lotteries and how MegaMoon, the world’s leading crypto lottery platform, uses Chainlink VRF to ensure fairness in decentralized lotteries.
Chainlink VRF and its Role in Lottery Fairness
As mentioned in one of our previous articles, traditional lottery participants frequently question the integrity of the drawing process, suspecting manipulation or insider advantages. This is often the case because the lottery is managed and controlled by a group of people who have the potential to exploit the system.
Thus, establishing trust in the lottery system depends on verifiable fairness. Participants are more likely to participate when they believe the process is fair and know they have an equal chance of winning. And that is where Chainlink VRF comes into play.
The Verifiable Random Function by Chainlink is a decentralized random number generator (RNG) that uses the Ethereum blockchain to provide tamper-proof and verifiable randomness to smart contracts. When a smart contract needs a random number, it submits a request to Chainlink VRF. The request includes a cryptographic hash of the smart contract’s address and the amount of randomness it needs.
This system then selects a random number from a cryptographically secure random number generator (CSPRNG) and signs it with the private key of a random oracle. The random oracle is a trusted node that is “randomly” selected from a pool of nodes. The public key of the random oracle is published on-chain, so anyone can verify the signature of the random number.
The smart contract can then use cryptographic proof to confirm that the random number was generated accurately. This cryptographic proof is a digital signature that is generated by a random oracle. The signature proves that the random number was generated using the private key of the random oracle and that the random number has not been altered.
However, the combination of on-chain block data and the Decentralized Oracle Network’s (DON) consensus mechanism guarantees unbiased and tamper-proof results. The on-chain block data ensures that the random number was generated at a specific time and that it was not tampered with after it was generated. The DON’s consensus mechanism ensures that the random oracle was selected fairly and that the random number was generated correctly.
Each oracle in the DON has an associated private and public key pair. The private key is kept off-chain, and the public key is published on-chain. This design ensures that the random number is generated by a trusted source and cannot be tampered with.
As a result of the innovative functions it offers, Chainlink VRF’s capabilities have found various use cases in the decentralized finance (DeFi) space and beyond. Platforms like MegaMoon and Moonbeam rely on Chainlink VRF to, respectively, ensure that lottery winners are chosen transparently and enable provably fair gamified savings and real-time price data for developers.
How MegaMoon Revolutionizes Decentralized Lotteries with Chainlink VRF
As a leading decentralized lottery platform, MegaMoon prioritizes transparency and public trust in lotteries. As a result, it has integrated Chainlink VRF (Verifiable Random Function) into its lottery mechanism to guarantee that all players have equal chances of winning.
With Chainlink VRF, there is no chance of bias or manipulation, which is common on many other centralized and decentralized lottery platforms, and the lottery results are kept secret, even from the MegaMoon team, until the draw is finished.
The main benefit of using this groundbreaking mechanism for a decentralized lottery for players on MegaMoon is that they can trust that the winning numbers are truly random and not influenced by any other factors than a fully decentralized random number generator.
Therefore, MegaMoon’s integration of Chainlink VRF sets a shining example for other platforms to follow, bringing greater confidence and reliability to the world of decentralized lottery, a space where trust and integrity are paramount.
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MegaMoon is launched on Polygon blockchain and uses $USDT in ecosystem that regulated by smart contract and our platform has successfully passed the safety standard audit from Certik Audit. Therefore, all players can be assured that MegaMoon is transparent and no one can interfere with the prize draw thanks to the Chainlink VRF system. In addition, MegaMoon has a Treasury system that allow players do not pay blockchain gas fees.
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