1000Blocks Space Integrates Chainlink VRF to Help Power Transparent Rewards Distribution
We’re excited to announce that 1000Blocks Space — a play-to-earn gamified yield farming platform where users co-create NFTs — has integrated Chainlink Verifiable Random Function (VRF) on the Binance Smart Chain mainnet. By integrating the industry-leading decentralized oracle network, we now have access to a tamper-proof and auditable source of randomness needed to distribute rewards randomly to all participants on Space-02, a virtual place for users to co-create NFTs and earn yield in the process. Ultimately this creates a more exciting, transparent, and fraud-proof user experience, as users can have stronger assurances that rewards are distributed fairly.
1000Blocks Space is all about community-powered NFTs. You can invest in Block Areas where you put your poster/image of what you want to show to the world. And as long as you are the owner of a Block (no takeover happens), you earn BLS tokens.
In summary, you can invest in visual real estate that generates yields in BLS tokens and acts as a piece of artwork. You can stake those BLS tokens to get a share in various income streams including the profits from that artwork.
We are also releasing unique smart NFTs that will have full utility on the 1000Blocks platform. Whitelist is NOW open!
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In order to distribute rewards with provably fair randomness, 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 derived from blockchain data like block hashes can be exploited by miners/validators, while off-chain RNG solutions derived from off-chain APIs 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 by a time-tested oracle network, and secured through the generation and on-chain verification of cryptographic proofs that prove the integrity of each random number supplied to smart contracts.
Chainlink VRF works by combining block data that is still unknown when the request is made with the oracle node’s pre-committed private key to generate both a random number and a cryptographic proof. The 1000Blocks Space smart contract will only accept the random number input if it has valid cryptographic proof, and the cryptographic proof can only be generated if the VRF process is tamper-proof. This provides our users with automated and verifiable assurances directly on-chain that the rewards distribution is provably fair and was not tampered with by the oracle, outside entities, or the 1000Blocks Space team.
“Chainlink VRF is THE choice when your project requires verifiable on-chain randomness. It helped us enable functionality similar to a raffle draw within our unique Spaces concept. Chainlink infrastructure is established, well-known, and easy to integrate. Highly recommended.” — CTO Kristian
Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.
About 1000Blocks Space
Our main purpose is to unite crypto communities in the creation of unique NFTs and reward art co-creators.
We do this by interweaving gamification, art, and rewards yielding via Play-To-Earn interactions and bringing it closer to the general public.
We see the 1000Blocks platform as a unique way for users to earn yields plus have fun in the process, and for companies to engage with their communities through the creation of Exclusive Spaces specific to their user base.
Visit us on https://1000blocks.space
If you are interested in a strategic partnership, check our long term vision: https://1000blocks.space/presentations/1000Blocks-PitchDeck-2021.pdf
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