We’re excited to announce that LOTDOG.io — a deflationary BSC token with an integrated lottery function — has integrated Chainlink Verifiable Random Function (VRF) on the Binance Smart Chain mainnet. By integrating Chainlink’s industry-leading decentralized oracle network, we now have access to a tamper-proof and auditable source of randomness needed to determine the winner of our lottery. Ultimately this creates a more exciting, transparent, and fraud-proof user experience, as users can trust the lottery to be 100% fair and give them the real chance to win a significant amount of BNB Token every eight hours.
We at LOTDOG.io wanted to bring something fresh and exciting amidst a sea of similar RFI forks. By moving a share of each transaction into a lottery pool LOTDOG.io is providing a fun way of interacting with blockchain technology. Each individual person that is purchasing a small amount of our $LOTDOG token is automatically entered into the lottery and has an equal chance to win a prize. All existing lottery tokens utilize, what is in our opinion suboptimal on-chain solutions for their randomization, that allow for manipulation or are based on a non-verifiable off-chain solution. By utilizing the Chainlink VRF we can guarantee a fair and honest RNG function that truly is immutable.
In order to determine the winner of our lottery, we need access to a secure random number generator (RNG) that any user could independently audit. However, RNG solutions for smart contracts require several security considerations to prevent manipulation and ensure system integrity. For instance, RNG solutions using on-chain data like block hashes can be exploited by blockchain miners, while off-chain RNG solutions like traditional data providers are opaque and don’t provide users with definitive proof about the integrity of the process.
After reviewing various solutions, we selected Chainlink VRF because it’s based on cutting-edge academic research, supported ...