JustBet will use Chainlink Oracles to Optimise its Decentralised Gaming Platform on Polygon
JustBet to use Chainlink VRF for tamper-proof randomness and Chainlink Price Feeds for decentralised, autonomous, high-speed gaming platform
JustBet is integrating two major types of Chainlink oracles into its decentralised gaming platform — Chainlink VRF and Chainlink Price Feeds. These two secure and reliable oracle solutions will pave the way for an entirely new decentralised gaming experience, one in which external data is used to augment the security and functionality of several critical on-chain gaming functions.
JustBet selected Chainlink because it’s the most time-tested and fully functional decentralised oracle solution in the blockchain industry, already securing billions of dollars in value for leading decentralised applications. Importantly, Chainlink Price Feeds and VRF are already running live on the Polygon mainnet, making it a seamless integration.
The initial integration of Chainlink’s VRF and Chainlink Price Feeds will be used to demonstrate and showcase how the combined power of Chainlink and Polygon can bring a truly enhanced and trusted decentralised and fully autonomous gaming experience to users.
Understanding JustBet and its Need for Oracles
JustBet is a fully decentralised and autonomous gaming platform built using smart contracts, which require no human interaction and where airdrops cannot be tampered with at any time. It will run on the Polygon Network — a layer-2 Ethereum scaling solution. The benefits of Polygon include fast transactions and cheap per-transaction gas costs, enabling the creation of highly scalable and low-cost applications for an optimised gaming experience.
One of the biggest challenges when building a decentralised gaming platform are smart contracts’ inability to access real-world data existing outside the blockchain (off-chain). This means smart contract applications on JustBet cannot refer to external data feeds before triggering on-chain actions, such as asset prices, randomness, and gaming results. Resolving the problem of external connectivity requires the use of a secure blockchain middleware known as a decentralised oracle network, which fetches off-chain data on behalf of the smart contract and delivers it to the blockchain so it can be used to trigger on-chain actions like settling a trade or triggering an in-game event.
How JustBet use Chainlink Oracles
After reviewing a number of oracles, JustBet identified Chainlink as having the most diverse and secure set of oracle services on the Polygon mainnet. This enables integration of pre-made oracle solutions that are already proven to secure real value, saving considerable time and resources while also mitigating risk by not having to build custom solutions or use unproven alternatives.
One of the most essential aspects of making a gaming platform viable is being able to prove that the games are provably fair (an algorithm which can be analyzed and verified for fairness in the gaming platform). One of the key ways to make a game provably fair is by being able to demonstrate that the random numbers generated have a tamper-proof and verifiable source of randomness, giving everyone definitive proof that each game is equally fair for all participants. Since JustBet is a fully decentralised autonomous gaming platform, it is essential that games and their results can be audited, and proven to be both random and have immutable and fair outcomes for all players.
Chainlink VRF (Verifiable Random Function) is a secure and verifiable random number generator (RNG) purpose-built for smart contracts. It 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 JustBet smart contract will only accept the random number input if it has a valid cryptographic proof, and the cryptographic proof can only be generated if the VRF process is tamper-proof. This provides users with automated and verifiable assurances directly on-chain that each JustBet application using Chainlink VRF for randomness is provably fair and cannot be tampered with or predicted by the oracle, outside entities, or the JustBet team.
In addition to Chainlink VRF, JustBet will integrate Chainlink’s decentralised price oracles to secure the Proof-Wagering mechanism. The JustBet mining formula was completely re-designed, using a combination of logarithmic standard cumulative deviation and a common “bet amount” to determine the WINR rewards users receive. The Proof-of-Wagering mechanism relies on Chainlink Price Feeds to baseline all game transactions to a common value, USD. This is essential so that users transacting with any in-game currency, such as BTC and ETH, will always be rewarded with newly minted WINR tokens according to the most current fair market rates.
Chainlink Price Feeds are the most widely used oracle solution in DeFi, relied on by top projects like Aave and Synthetix. They are secured by a decentralised network of independent, security reviewed oracle nodes run by leading blockchain and security DevOps teams. Each node takes a median value from multiple premium data aggregators, with each of these aggregators pulling in prices from all relevant centralised and decentralised exchanges, weighting it by volume, and removing outliers/fake volume to arrive at a global market price. All nodes’ values are then further aggregated by the oracle network to create a single aggregated price update. Such decentralised architecture ensures high uptime and tamper-resistance at the oracle and data source levels, as well as providing highly precise data that is immune to various data manipulation attacks.
According to the JustBet team, “These first two Chainlink oracle solutions will enable both a more interactive and fair gaming experience powered by verifiable randomness, as well as a secure and equitable mining rewards system for users. The initial implementation will be the first steps in JustBet delivering a truly remarkable decentralised gaming experience on the low cost and high-speed Polygon Network.”
The JustBet team will also continue to work closely with Chainlink and look to deploy additional Chainlink-powered services in the future.
About JustBet
JustBet is the first-ever fully decentralised gaming platform built on smart contracts on the Polygon Layer 2 Ethereum network. The platform runs fully autonomously with no human intervention. It is designed to create a unique gaming experience which is fast, secure, and fully decentralised. The platform is also designed for efficiency, speed and a truly unique gaming experience using Chainlink oracles.
The platform was designed to create a fully democratised gaming experience with a utility token for participation within the platform as part of the in-game experience. The platform airdrops 64% of all gaming profits daily to users who participate and stake WINR tokens. Users may also participate in the weekly lucky draw lottery which accumulates and distributes the remaining 16% of all gaming profits.
The platform also runs on a Proof-of-Wagering model where minted tokens are earned from each game transaction. Each game transaction is minted using a logarithmic model as well as using Chainlink oracle technology.
JustBet is the first fully decentralised, provably fair gaming platform; Where everyone is a WINR.
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About Chainlink
Chainlink is the most widely used and secure way to power universally connected smart contracts. With Chainlink, developers can connect any blockchain with high-quality data sources from other blockchains as well as real-world data. Managed by a global, decentralised community of hundreds of thousands of people, Chainlink is introducing a fairer model for contracts. Its network currently secures billions of dollars in value for smart contracts across the decentralised finance (DeFi), insurance and gaming ecosystems, among others.
Chainlink is trusted by hundreds of organisations to deliver definitive truth via secure, reliable data feeds. To learn more, visit chain.link, subscribe to the Chainlink newsletter, and follow @chainlink on Twitter.
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About Polygon (Formerly Matic)
Formerly known as Matic Network, the layer-2 scaling solution backed by Binance and Coinbase, Polygon is an open-source project committed to scaling the Ethereum network. Its first product, Matic PoS chain, is based on a version of Plasma and used by such projects as Polymarket, Aavegotchi, Decentraland, SportX, and Neon District, and many more.
The POS chain has a 2 second blocktime with the Avg. Txn. Cost at $0.00004. This chain has over 200+ dapps deployed on it and has completed over 17M transactions with over 300K+ unique wallets.
The Polygon team is now developing Polygon SDK to provide a substrate-like engine to build stand-alone chains on top of Ethereum and is developing and collaborating with various cutting-edge Layer2 solution providers to build Ethereum secured chains.
If you’re an Ethereum Developer, you’re already a Polygon developer! Leverage Polygon’s fast and secure txns for your Dapp, get started here.
