Ferrum Network, a blockchain and cryptocurrency service ecosystem, announced today that it now integrates oracle solutions Chain link For many different initiatives.
The first integration is online. Ferrum Network is using Chainlink VRF (Verifiable Random Function) to determine the address of pre-sale tokens in a provably fair and tamper-proof manner. In addition, Ferrum Network will use Chainlink VRF to determine the addresses granted for the pre-sale allocation in the high-demand token release; and other randomly generated lists that may appear due to future actions.
Chainlink VRF is a verifiable random function used to generate random numbers and pass them to the smart contract on the chain. Although oracles are generally known for relaying data on-chain; Chainlink has expanded its network of oracles to perform various scalable, low-cost, and verifiable off-chain calculations on behalf of smart contracts. One of them is their popular VRF service.
Securing Ferrum’s cross-chain token bridge Chain link
In addition to adding on-chain utilities with verifiable security, Ferrum will further use Chainlink oracles to improve its cross-chain quality, security and robustness Token bridge.
Start of cooperation
Recently, the Ferrum incubation project UREEQA was introduced to the Chainlink Labs team. A few days after the conference, UREEQA released a series of NFTs for MLB home run Trey Mancini; all proceeds will be used for cancer research. Chainlink VRF is used for fair distribution of rewards, including autographed souvenirs, to select current and future NFTs.
“We are very pleased to see Chainlink VRF being used in our consulting services for provably fair and unbiased token distribution. And to promote more promising and synergistic work between the two projects. We believe that these integrations will Add tremendous value to the Ferrum and Chainlink communities.”
– Ian Friend, co-founder of Ferrum Network