Popular oracle solution company Chainlink has unveiled the upgraded version of the most used random number generator, Chainlink verified random function. Developers of the Chainlink VRF version2.0 claim that the new version is going to reduce the transaction fees by 60%. This latest version also has a subscription management app to make the solution more inclusive.
Randomness is an absolute necessity for making NFTs, giveaways and gaming platforms even-handed, exciting and secure. Chainlink VRF associates a verifiable cryptogenic proof with each random number it generates. By doing so Chainlink VRF eradicates the limitations and risks associated with traditional randomness generators.
Chainlink VRF has established itself as the most extensively used RNG in the blockchain ecosystem. The network has already generated a revenue of more than $60 million by catering to the entropy need of more than 2200 smart contracts by the end of 2021. The first version of the Verified Random Function has fulfilled more than 3 million request transactions. Many popular blockchain-related projects like Ethercards, Axie infinity and Bored Ape Yacht Club use Chainlink VRF for generating randomness.
Chainlink VRF Version 2.0
Chainlink VRF version 2.0 is currently live on Ethereum mainnet. The Oracle solution network is planning to bring it into the blockchains of some other alt coins like BNB and Polygon.
This version has upgrades that allow multiple random number requests in a single on-chain transaction and make the solution highly gas-efficient. The cofounder of Chainlink, Sergey Nazarov is confident that the additional benefit of efficiency in this new version will boost the adoption rate of the solution across many new networks.