Dvision Network Will Integrate Chainlink to Calculate Digital Asset Prices and Fairly Distribute Random Gaming Rewards
Dvision Network is a new VR content ecosystem that utilizes blockchain technology. It aspires to provide the best user experience by utilizing the advantageous features of Blockchain and VR technologies, and by creating an unprecedented and inclusive virtual ecosystem for businesses and designers
Dvision Network is officially announcing its decision to integrate with Chainlink, the market-leading blockchain oracle solution. Leveraging Chainlink’s widely used decentralized Price Feeds will enable users to correctly estimate their expenses when creating NFT items in the Dvision virtual reality marketplace. Additionally, Dvision Network will adopt the Chainlink Verifiable Random Function (VRF), which generates a secure, provably fair source of randomness used to generate and distribute certain on-chain rewards to users.
Why Dvision Selected Chainlink
Blockchain oracles allow smart contracts (on-chain) to interact with data and systems from outside their native blockchain (off-chain). This allows smart contracts to execute on-chain functions based on real-world data and events such as web APIs, IoT networks, other blockchain data, and more. The ability to use external data in smart contract applications has been a phenomenal breakthrough, greatly expanding the number of use cases possible on blockchains. However, since the oracle is responsible for triggering the execution of the smart contract, it must be as secure and reliable as the underlying blockchain.
Chainlink has solved these challenges by providing a decentralized and flexible oracle framework to prevent any single point of failure in the oracle, as well as allow users to obtain data from any external source. Its thoroughly proven oracle solution already secures billions of dollars in value for numerous top projects including Synthetix, Aave, Yearn, and many others.
Dvision Network’s initial integration with Chainlink revolves around leveraging their Price Feeds as the primary oracle solution in the NFT marketplace. Chainlink Price Feeds will be used to calculate the exact gas fees incurred when creating NFTs, ensuring users have access to accurate, up-to-date data on the true costs of using the network. We selected Chainlink Price Feeds because they provide best-in-class features, such as:
- High-Quality Data: Price data is sourced from premium off-chain data aggregators, leading to a volume-adjusted market-wide price aggregated from hundreds of exchanges as opposed to anyone exchange.
- Decentralized: Price Feeds are decentralized at both the data source and oracle level, providing highly available and manipulation resistant oracle services.
- Secure Nodes: All oracle nodes are run by known and experienced blockchain DevOps, bringing users reliable services to users.
In addition to Price Feeds, Dvision Network will also integrate Chainlink VRF to power the distribution of chance-based rewards to users who accomplish certain tasks. Chainlink VRF is an on-chain random number generation (RNG) solution that the oracle nodes, external entities, or even Dvision developers can tamper with. It represents a major advancement in the smart contract and NFT space, as it enables a provably fair and on-chain verifiable source of secure randomness that any user can independently audit. For example, this allows users to prove that valuable in-game items or NFT attributes were indeed randomly distributed/determined, ensuring each user has a fair chance of receiving rewards.
“By using Chainlink to access reliable price feeds and determine the distribution of random NFT rewards, Dvision users have assurances that the digital goods created by their gameplay will be based on provably fair systems, as well as be exchangeable on the open market for fair-market values and governed by economic models that are permanent and stable,” said Dvision Network CEO Jung Hyun Eom.
Integrating Chainlink perfectly aligns with the vision of Dvision Network, which aims to build a truly decentralized blockchain platform. We are excited to bring Chainlink’s secure and reliable data into the Dvision Network, allowing us to create a more advanced virtual reality world.