Chainlink investors need not worry about transaction fees, since…
Blockchain oracle network Chainlink has been creating a lot of buzz in the cryptocurrency industry lately. Primarily, due to the various partnerships, it has entered into over the past year. However, it is necessary for blockchains to continue innovating and expanding in order to stay relevant, considering the number of rivals that are ready as replacements. To that end, Chainlink has now released an upgraded version of its Chainlink Verifiable Random Function, or VRF on the mainnet.
In an announcement for the same, the network noted that the VRF had by far received over three million request transactions from NFT projects and blockchain games. This upgradation, above all, is aimed at reducing the fee on these transactions by 60% compared to the v1.
Apart from that, the VRF v2 will also offer enhanced subscription management, the ability to adjust gas limits, expanded block confirmations, and being able to request multiple random numbers in a single on-chain transaction, the announcement noted.
The VRF is a random number generator that is being leveraged by a number of crypto projects, including the NFT collection Bored Apes Yacht Club and the play-to-earn game Axie Infinity. “By generating a random number along with cryptographic proof, VRF delivers provably fair, verifiable, tamper-proof results,” according to Chainlink.
Randomized numbers are supremely important in the blockchain industry, as they are used to generate private keys for wallets and transactions. Moreover, they are also being used now to securely mint NFTs and their attributes and to ensure fair outcomes in blockchain-based games.
Aleksander Leonard Larsen, Chief Operating Officer of Axie Infinity, commented on the development saying:
“Verifiable randomness
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