Chainlink founder Nazarov: “They’re all seeking to compete on the scalability and the cost efficiency of their system.”
Expanding on Avalanche, Fantom and Optimism
New protocols across the space leverage Chainlink’s oracle networks as they become increasingly cost-efficient.
After peaking in 2021, oracle costs are now declining, allowing blockchain projects to become more scalable and decentralized.
In this week’s roundup:
Overtime Markets integrates Chainlink Oracles for high-quality sports data.
“Whether they’re more established blockchains or new blockchains, they’re all seeking to compete on the scalability and the cost efficiency of their system,” Chainlink founder Sergey Nazarov said in a recent presentation. “This competition has already led more and more Chainlink oracle networks to become profitable on the blockchains known for their cost efficiency like Polygon or BNB.”
“With VRF, our users can now directly verify that Treasury Box winners are selected in a provably fair manner,” said Degis’ founder and CEO Andy.
Treasury Box is a game that gives users a chance to win rewards. To play, users buy lucky tickets with $DEG for the opportunity to win more $DEG. To help ensure that this process is fair, the protocol uses Chainlink’s random number generator that any user can independently audit.
Chainlink VRF combines unknown block data with the oracle node’s private key to generate a random number and a cryptographic proof. The protocol will only accept the random number if it has a valid cryptographic proof. This assures users that Treasury Box winners were not influenced by the oracle, outside entities or Degis’ team.
The AMM can now access Chainlink sports data to provide real-time on-chain odds and results to resolve its sports markets.
At the moment, the sports data covers the following leagues:
NCAA Men’s Football
NCAA Men’s Basketball
UEFA Champions League
Overtime wants to disrupt current sport markets platforms as a decentralized platform that doesn’t gather personal information or take custody of user funds.
The team integrated Chainlink Price Feeds for pricing conversions because they are hyper-resistant to data manipulation attacks and single points of failure, helping ensure NFT prices reflect accurate market rates. The incubator will also leverage Chainlink VRF to allow artists to launch collections and distribute NFTs in a verifiably random way.
“Integrating Chainlink Price Feeds and VRF for enhanced functionality and security was the next logical leap for Potluck Labs as it continues to scale into a leading NFT incubator available on multiple chains. Chainlink trust-minimized services are helping create more seamless user experiences for projects launching on Potluck Labs and for users purchasing NFTs through the platform,” said True Voodoo, Potluck Labs’ Chief Vision Architect.
Check out BSC News’ weekly roundup to keep up with the latest regarding the smart contract powerhouse.
Last four editions:
June 24: ApeSwap, Joepegs and MEXC
What is Chainlink:
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.
Where to find Chainlink:
What is Degis:
Degis is the 1st all-in-one protection protocol built on Avalanche. The ultimate goal is to create a universal crypto protection platform and shape a decentralized protection ecosystem. Protecting crypto assets is always the mission of Degis, and with blockchain technology, they plan to make protection reachable to every part of the world.
Where to find Degis:
What is Overtime:
Overtime is a fully decentralized sports platform. Born out of Thales protocol, Overtime keeps pushing the mission of gamifying DeFi one step further and helping close the gap by including real-life sports events.
Where to find Overtime:
What is Potluck Labs:
Potuck Labs helps artists build out generative projects focused on the art first and foremost. Beyond the art, they then provide an ecosystem of value. This includes NFT staking, passive earnings, GameFi partnerships, and more. Potluck is also at the forefront of cross-chain and technical innovation. As a result, many of their collections are traversable between multiple chains.
Where to find Potluck Labs:
Source : bsc.news
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.