Supra is a next-generation, vertically integrated blockchain ecosystem with powerful smart contracts, native Oracles, cross-chain communication, automation, and more into one unified, shared security infrastructure. Josh Tobkin is the Co-Founder and CEO of Supra. He recently joined the Bitcoin.com News Podcast to talk about the future of the crypto ecosystem and how his company fits […]
Bitcoin News
The $50K Quest: Bitcoin Oracle’s Pre-Halving Proclamation Sparks Excitement
As the eagerly awaited Bitcoin halving event approaches in April, cryptocurrency analysts are engaging in spirited discussions about the potential trajectory of the leading cryptocurrency’s price.
Offering his insights, Michaël van de Poppe, the founder and CEO of MN Trading, has shared his predictions, outlining a period of consolidation before potential growth, with a particular emphasis on the anticipated outperformance of certain altcoins.
Bullish Long-Term Outlook Amidst Short-Term Consolidation
Van de Poppe envisions a phase of consolidation for Bitcoin in the upcoming months, with a suggested price range oscillating between ,000 and ,000 leading up to the halving event.
My general theory is that #Bitcoin is consolidating in the coming months.
Pre-Halving a final run towards resistance at -50K, after that another correction to -38K and from there #Altcoins to continue outperforming Bitcoin. pic.twitter.com/sYiqpg3T93
— Michaël van de Poppe (@CryptoMichNL) February 3, 2024
However, he cautiously warns of the possibility of a further correction, potentially driving the price down to a range of ,000 to ,000 before witnessing a rebound. This aligns with his previous statements expressing a keen interest in accumulating more Bitcoin within this specified range.
Despite these short-term predictions of consolidation, Van de Poppe maintains a bullish stance on Bitcoin’s long-term prospects. He boldly projects a potential future price of 0,000, echoing the prevailing optimistic sentiment within the cryptocurrency market.
This optimistic outlook is not unique to Van de Poppe, as other analysts also express similar enthusiasm, with price predictions ranging from 0,000 to a staggering million post-halving.
In an intriguing twist, Van de Poppe suggests that while Bitcoin experiences this period of consolidation, certain altcoins, namely Solana (SOL), Cardano (ADA), and Ethereum (ETH), may potentially “outshine” Bitcoin.
This implies an anticipation of their growth rates surpassing those of Bitcoin. Notably, Dogecoin (DOGE) has already displayed bullish momentum, seemingly validating these projections.
Bitcoin Price At A Glance
Bitcoin is currently trading at approximately ,097, and its next move is crucial. If it breaks above ,375, it might surge further, finding resistance at higher levels. On the downside, there’s a solid support around ,940, backed by the 50-Day Exponential Moving Average (EMA).
The Relative Strength Index (RSI) suggests a neutral market, hovering around 54, without a clear direction. Traders are closely watching for a potential breakout above ,375, which could trigger a bullish rally, or a drop below ,950, indicating a bearish trend. The market is at a pivotal point, and significant price action could follow.
Traders Remain Upbeat On Much-Awaited Bull Cycle
The current Bitcoin market operates within a unique landscape, shaped by the recent launch of spot Bitcoin ETFs and the looming halving event. While the possibility of sideways movement exists, traders remain hopeful for the initiation of the long-awaited bull cycle.
As the crypto community eagerly awaits the unfolding of these predictions, the dynamics of the market continue to evolve, keeping investors on the edge of their seats in anticipation of the upcoming events.
Featured image from Adobe Stock, chart from TradingView
Defining Oracles: Enablers of the Decentralized Finance World
Oracles are entities that enable various functions in blockchain structures by providing access to legacy or offchain information systems, acting as data ports for decentralized finance applications. These oracles act as information providers for tasks that require either the posting of data or require data to complete specific tasks.
What Are Oracles?
In ancient times, oracles were priests who were thought to offer advice or prophecy to people in need, seeking answers from the gods. The blockchain meaning of the word is not far off, as oracles are entities (smart contracts) that use various means to obtain information from different sources to enable the completion of tasks on top of a blockchain structure.
Oracles empower decentralized finance, bringing information from the real world to onchain processes. Without them, each blockchain would only be a silo of information, allowing programs to exclusively access data self-contained on the selected chain.
The implementation of oracles opens many use cases for decentralized finance applications. One of the most common examples is the usage of price feeds in decentralized exchanges to complete liquidations and make other kinds of calculations. Also, any task that needs information from sources outside the blockchain, like prediction markets, benefits from oracles.
Further, oracles can be used when legacy applications require data from the blockchain, transmitting the needed data for certain purposes. For example, a decentralized system might activate a card to open the door of a hotel room after a cryptocurrency payment is received.
Oracles can also facilitate the transport of data offchain to be used for heavy processing that would be unpractical to do onchain. In this case, oracles allow apps to defer the computing processes needed to complete a determined task to other systems.
Decentralizing Data Transport
While oracles are useful tools for connecting onchain apps with legacy, real-world data, they also represent a single point of failure for these apps. If the resources needed by the app are considered critical, and the oracle fails to deliver them, the task will be unfulfilled. Also, the oracle might be exploited to retrieve incorrect or altered data, which would also affect the result of this task.
Decentralized oracles propose an answer to this problem, seeking to retrieve the required data from different sources to validate and aggregate the results to deliver a valid response to the application. Chainlink is the most known decentralized oracle network, offering preexistent data feeds to allow developers to have a reference for different values.
For example, a decentralized app could use the price feed to determine the price of a determined asset or leverage the nonfungible token (NFT) floor price feed to retrieve a range of prices for an owned NFT.
The Future of Oracles in Finance
While oracles drive almost all decentralized finance applications, their usage and the issue of the “oracle problem” have been questioned by staff members of the Bank of International Settlements (BIS) in a recent bulletin.
The authors criticize the tradeoffs that embracing a fully decentralized oracle system might bring for the design of these systems, stating that “striving for the ideal of full decentralization leads to complex consensus protocols that further erode blockchain efficiency.”
However, the bulletin also explains that adding centralization to these tools might introduce trusted parties into a system whose objective is to remain trustless, stressing that due to this, “crypto-based defi is likely to remain the preserve of cryptoassets only, rather than being used for real-world assets.”
What do you think about oracles and their roles in decentralized finance? Tell us in the comment section below.
Why Oracles Will Drive the Next Stage of Evolution in the DeFi Market
In a world of “interests,” it is vital that no one has a monopoly on truth.
Decentralized protocols have grown in popularity as viable alternatives to traditional centralized systems. People are recognizing the flaws of centralized authority and adopting open, decentralized, and trustless systems. However, for decentralized protocols to truly be open and transparent, there’s a need for an infrastructure that would help access offline real-time information in a trustless manner.
There is no doubt that we live in a world where anyone can simply share false information and declare it to be true. Oracles appear to be the solution to the emerging decentralized web’s “infrastructure” dilemma. Oracles are essential blockchain infrastructure that facilitates communication between the offline and on-chain protocols.
Oracles are essential for most decentralized protocols, particularly Decentralized Finance. Decentralized Finance (DeFi) protocols rely on Oracle networks for real-time on-chain data and event-based outcomes because blockchains have no native way to access data outside of the chains themselves, and decentralized applications (dApps) such as insurance products, algorithmic stablecoins, financial derivatives, and prediction markets, must function smoothly.
Oracles gather real-world data from external sources, such as market prices, weather data, location data, and currency rates, and place it on the blockchain, allowing smart contracts to act on it. They can even provide data from different chains.
When a protocol is not decentralized, oracles are frequently third-party services or application features that a user interacts with manually. These do not adhere to the notion of decentralized protocols and are, for the most part, centralized. Centralized oracles could be readily controlled and utilized for selfish purposes. The purpose of blockchain oracles is to provide numerous reliable data sources in order to achieve complete decentralization.
To achieve this, blockchain oracles combine cryptography and incentives to build systems that allow different nodes to reach a consensus over shared data. However, this may result in weakness for decentralized protocols. Manipulation can occur when utilizing common price-feed oracle systems, and there have been multiple high-profile incidents, one of which was when lenders on DeFi platform Compound were liquidated for US3 million due to a malicious oracle exploit. The failures of 3AC, Celsius, and BlockFi all emphasize the significance of enabling real decentralization as a means of increasing transparency and trust in the financial system.
While the bear market continues to weigh on cryptos and DeFi alike, a new course must be charted if DeFi is to survive and prosper. However, oracles will be one of the most powerful drivers of this evolution.
Band Protocol is one of the Decentralized Oracle protocols paving the way for the future evolution of the Defi Ecosystem. Band Protocol provides “community-curated” data sources that dApp operators can utilize to manage and curate data feeds in order to address the oracle problem and provide smart contracts with credible data feeds. Band has received a lot of attention since its inception in 2018 and is well-known as one of the best decentralized oracles in the business.
Another Oracle protocol worth mentioning is the QED protocol. QED is the next-generation decentralized oracle solution for the blockchain sector. 0rigin created a strong economic model called QED to link various blockchains, smart contracts, and off-chain data sources. The Delphi oracle has been live and operational for more than three years. QED is a battle-tested and proven iteration of the Delphi oracle.
Given that QED is the first Oracle solution to address the technical and business aspects of Oracle protocols, it has a distinctive value proposition. In addition, QED has created a robust economic model that sets it apart from other blockchain protocols by guaranteeing the accuracy of real-world data on-chain.
Because the QED protocol is blockchain agnostic, it can be scaled and integrated with any open blockchain. On the business side, QED has put in place financially sound recourse mechanisms that let customers use external collateral it has given them in case systemic risks were to blame. Finally, it’s crucial to remember that the QED network never uses system tokens as collateral and instead always uses external collateral.
Conclusion
Centralization has resulted in numerous security flaws in current Oracle protocols and the DeFi ecosystem as a whole. Hackers stole about .3 billion in 2021 due to that flaw. There have also been instances where “centralized” Oracles resulted in discrepancies in market prices and data across platforms. We saw the Venus protocol being exploited by unscrupulous actors, costing 11 million dollars, as hackers take advantage of Venus’s fluctuating rates. Decentralized oracle protocols, such as QED networks, are the future of the DeFi industry and would help investors during the current phase of excessive market volatility and bear market in the cryptocurrency space.
Photo by Viktor SOLOMONIK on Unsplash
DIA’s Open-Source Oracles Live on Evmos Mainnet
The open-source oracle platform for Web3, DIA announced today its entry into the newly launched Evmos ecosystem by making its data infrastructure available on its mainnet network. This new integration will be crucial to protocols operating on Evmos to develop DeFi use cases such as stablecoins, lending and borrowing, DEXs and more.
With its Mainnet live since April 26, Evmos is an application-agnostic chain built with the Cosmos network, interoperable with Ethereum environments thanks to its Ethereum Virtual Machine compatibility. This allows developers to access all Ethereum tools and features while still benefiting from the network’s Proof of Stake (PoS) consensus mechanism. As Evmos is built on top of the Cosmos SDK, it can also interact and exchange value with the rest of the Cosmos Ecosystem.
It is well known the importance and necessity of blockchain oracles to fuel DeFi applications.
Oracles, as bridges between off-chain and on-chain systems, are the third-party software in charge of feeding smart contracts with real-time data to execute their underlying transactions. Through this integration, DIA is enabling developers on Evmos to have access to data feeds for 6.000+ cryptocurrency assets to build dApps.
To provide such a large data offering, unlike other Web3 oracle providers, DIA sources data directly from CEXs and DEXs at a very granular level. This enables DIA to create oracles for any asset that is available on centralised and decentralised markets. Additionally, this multi-source and granular approach allows DIA to create very robust and resilient oracles while providing full transparency.
Evmos is the latest blockchain network that DIA has integrated with and joins a list of 20+ blockchains DIA is available on, including Fantom, Arbitrum, Solana, Polkadot, Metis and NEAR, among others.
True Decentralization Can be Achieved With Oracles
The term ‘oracle’ has become quite commonly used within crypto circles across the globe in recent years, and rightly so. This is because these novel offerings are designed to connect various blockchain projects with a wide array of off-chain data, thus allowing for the advent of many novel use cases.
That said, most traditional oracles are faced with two core issues. Firstly, they require a centralized entity/intermediary to facilitate their access to external, real-time data — as a result of which third parties can potentially alter the data being supplied to it. Secondly, centralized oracles often have to forego many of the privacy advantages put forth by smart contracts, thereby posing major risks to the system’s overall security.
A smart contract can be thought of as a program/transaction protocol designed to automatically execute, administer and note relevant events and actions as per the terms of a predefined digital agreement.
Decentralized oracles explained
As highlighted earlier, centralized oracles serve as single, stand-alone entities that provide data from an external source to a smart contract operating within a set governance framework. As a result, they, more often than not, feature a single point of failure that can result in them being corrupted or being attacked.
On the other hand, decentralized oracles can be visualized as a group of independent oracles where each node operating within the network is capable of acting on its own accord — i.e., having the ability to work solo and retrieve data from an off-chain source.
Since they don’t have any sort of dependence on a “single source of truth”, the overall authenticity, and veracity of the data being supplied to the associated smart contract can be verified with an extremely high degree of efficacy.
To elaborate, most high-quality Decentralized Oracle Networks (DONs) provide their clients with highly specific security features such as data integrity proofs (that use cryptographic signatures); data validation modules using multi-layer aggregation (so as to eliminate downtime-related issues); crypto-economic guarantees as well as other optional features such as zero-knowledge proofs.
From an operational standpoint, decentralized oracles are ideal for use within a complex business environment but need a high level of financial investment — especially when it comes to setting up the project’s native infrastructure as well as paying for its general upkeep/maintenance.
The issues with oracles in their present form
While the transparency and decentralization aspect of most oracle-based platforms is quite intriguing, at least on paper, it should be noted that such propositions are only valid insofar that the information being supplied to a particular blockchain is “tamper-proof”. Now that being said, it is worth looking into the question of who really has the power to authenticate this data?
In fact, this question has been looked at in-depth by many blockchain experts and arises whenever a digital asset has to be linked to its physical counterpart.
As an example, whenever the transfer of ownership relating to a physical commodity (for example a necklace) has to take place between two people, the smart contract associated with the deal has to be supplied with data ensuring the validity of the supplied information.
To achieve this, a third party is usually required for the verification of events taking place in the real world. And while many projects have sought to alleviate this pain point in recent years, the issue is still quite prevalent today.
Decentralized Oracle solutions
Chainlink
One of the most popular oracle networks in the market today, Chainlink is best described as a decentralized network of nodes capable of delivering its users a wide range of real-time info from external data sources. The platform’s native smart contract architecture is automated and is able to perform actions as and when certain predefined conditions are satisfied.
Chainlink’s network is designed to help process real-world data associated with a number of feeds ranging from asset prices to sports data to shipping data to weather data. As a result of its multifaceted utilitarian structure, the platform is currently being used by a number of prominent DeFi projects such as Aave, Kyber Network, Synthetix, amongst others.
QED
QED can be thought of as a future-ready decentralized oracle designed to connect a wide number of blockchain networks and their associated smart contracts with external data sources seamlessly. Operationally speaking, QED Oracles utilize ‘external collateral’ as a bond to their smart contract theory mitigating many systemic risks that may have otherwise entered the fray.
Furthermore, the platform uses a ‘reliability scoring’ mechanism that determines the oracle’s capital efficiency while weeding out any poor performers from within the ecosystem. Lastly, QED has been built atop a blockchain that features no single point of failure and does not make use of a centralized verification system — allowing for a higher level of operational efficacy and overall security.
Witnet
Simply put, Witnet is a decentralized oracle network (DON) that not only connects smart contracts to real-world data sources but also allows third-party software to gather certain, specific info published by a given web address at any given point in time in its lifecycle, that too with verifiable proof.
It is worth mentioning that Witnet comes with a highly developed, holistic blockchain as well as a native digital asset that miners have the option of securing in lieu of retrieving, attesting and delivering web content.
Innovative Mining Protocol Concludes a $2 Million Fundraise Led by Exnetwork Capital and Oracles Investment Group
Leading Venture funds including Exnetwork Capital, CSP DAO, STC Capital, Oracles Investment Group, MoonBoots, Leos Ventures, Global Key Investment, and Aza Groups, have successfully led a funding round for MINE Network. A group of strategic partners including Skyrim Finance, Kylin Network, Charged Particles, and FOMO Chronicles also supported the round, to help MINE Network raise million.
Reportedly, it was an oversubscribed private sale with unimaginable responses from some of the industry’s most influential and trusted names. The project has attracted a slew of high-net-worth individuals who are trusting the project’s vision to be a premier solution provider in the crypto mining industry.
With the successful funding and IDO launch, MINE Network is ready to kickstart the journey of creating its eco-conscious, multi-chain mining protocol until it attains its fullest potential. MINE Network is enthusiastic about revolutionizing the very core of the crypto sphere and with immense support from the blockchain community.
Standardizing Mining Power
As the first decentralized standard hashrate token protocol solving mining problems, MINE Network is geared towards standardizing mining power. MINE will set up the mining power standard for a list of mining projects so that the mining power. This applies to mining powers from MINE and other mining pools, so they can be easily tokenized and clearly identified.
Growing cloud mining pools have curbed and lowered certain barriers impeding entries in crypto mining. However, there are a good number of cloud mining pools with no proper standard which can inhibit the rapid growth of the sector. MINE Network’s goal to standardize mining power is targeted at offering scaling potential to the industry.
MINE Network’s protocol is out to develop the right standards for numerous mining powers and also the minimum standardized hashrate unit. With this, the MINE Network mining pool will be an open and accessible tokenized market. As MINE aims at this problem of low standards, it is positioned to bring the mining ecosystem to a completely new level of accepted standards including energy consumption ratio, types of specific mining equipment as well as their numbers.
Building A Decentralized Community With Complete Autonomy
MINE Network as a project seeks to build a decentralized community with complete autonomy. This is a major factor in dealing with credibility issues facing the mining industry. MINE aims to act as a fully transparent decentralized autonomous organization. For every growing mining project, the MINE Network DAO will be adjusted to suit all stages for the community to be developed without hindrances. As the project matures, the MINE Network DAO increases. The primary objective is to grow into a decentralized protocol with full community autonomy.
As it works towards becoming a DAO, MINE Network is encouraging the willingness of the community to participate in governance by lowering participation thresholds and increasing incentives.
MINE Network is building a community with no hierarchical management or central governance. It will have a plethora of beneficial purposes. Miners on the platform will enjoy a self-sustaining economy with a better distribution of mining power for an even more equitable space.
DApps on NEAR Protocol Can Natively Access DIA’s Open-Source Oracles
DIA Association has announced the integration of its oracle infrastructure with the layer 1 distributed ledger NEAR Protocol. This deployment is set to enable the development of new decentralized applications with easy access to accurate and transparent data provided by DIA.
The NEAR Protocol, live on mainnet since April 2020, is a blockchain network created and developed by the NEAR Foundation, using a proof-of-stake consensus mechanism. The NEAR ecosystem encompasses several verticals including DeFi, with dApps like Maker, Utility/Infrastructure, with tools like The Graph or games such as Near Lands. The NEAR protocol is also home to NFTs, enabling users to create, mint and sell non-fungible tokens through its engine Mintbase.
The blockchain ecosystem has seen a number of new efficiency-driven chains surface, aiming to solve the scalability issue that ledgers like Ethereum are showing due to the increasing block sizes and the number of daily transactions. In the last weeks, DIA has announced the integrations of its data provision with many of these new networks, including chains like Moonriver, Arbitrum, Celo, Shiden and many others.
DIA has a unique approach to data sourcing compared to other oracle suppliers. The open-source oracle platform collects data at the individual trade level directly from centralized exchange APIs and on-chain from decentralized exchanges, whereas other oracle platforms aggregate a range of premium data suppliers. This allows DIA to make the sources of data fully transparent and customizable to specific use cases. It also enables the flexibility to source data for any asset, regardless of its trading volume or coverage by premium data providers.
Umbrella Network Announces New Launch: Decentralized Oracles On Ethereum Mainnet
Umbrella Network, the decentralized Layer-2 oracle solution, has officially launched on Ethereum Mainnet. The company made this announcement on its blog on Friday.
Umbrella Network is a community-owned Layer-2 oracle network that batches data for providing low-cost, scalable, and secure data. It utilizes the advances in Merkle tree technology to write multiple data points on a single on-chain transaction, making batching data to smart contracts more accurate and cost-effective. Umbrella network believes a community-owned oracle solution is essential to creating a truly decentralized financial system.
Blockchain Oracles Explained
Most blockchains have cryptocurrencies that are used to transfer value and enable the operations of the protocol. Some blockchains also enable Smart contracts.
According to Wikipedia, a smart contract is a computer program or a transaction protocol that is intended to automatically execute, control, or document legally relevant events and actions according to the terms of a contract or an agreement. The objectives of smart contracts are the reduction of need in trusted intermediates, arbitrations, and enforcement costs, fraud losses, as well as the reduction of malicious and accidental exceptions.
Related Reading | DOTOracle – Rendering Decentralized Solutions to Polkadot and its Ecosystem
However, there needs to be a way for blockchains and on-chain smart contracts to make use of external, off-chain data for smart contracts to have any real-world applications.
Ethereum.org clearly defines what an oracle is, the oracle problem, and how decentralized oracles solve it. “An oracle is a bridge between the blockchain and the real world. They act as on-chain APIs you can query to get information into your smart contracts. This could be anything from price information to weather reports. Oracles can also be bi-directional, used to “send” data out to the real world.”
Blockchain (e.g. Ethereum) transactions cannot access off-chain data directly. At the same time, relying on a single source of truth to provide data is insecure and invalidates the decentralization of a smart contract. This is known as the oracle problem.
This oracle problem can be avoided by using a decentralized oracle that pulls from multiple data sources; if one data source is hacked or fails, the smart contract will still function as intended.
Related Reading | Decentralized Oracle Plugin Offers Solution for XinFin’s Smart Contract
Umbrella Network claims its decentralized network is a superior solution to its competitors. It provides comparatively quick and affordable price feeds. It also says that it would make available more data pairs (currently 1,200 data pairs growing to over 10,000 by end of 2021) than any other oracle in the ecosystem.
According to Cointelegraph, the need for reliable data feeds appears to be growing as smart contract technology becomes more mainstream. For example, Brazil’s main stock exchange is exploring ways to provide data inputs for the country’s central bank digital currency (CBDC) project.
Umbrella Network Mainnet Launch On Ethereum
Umbrella Network’s mainnet launch on Ethereum means that it deployed Smart contracts on the Ethereum Blockchain. This means that Ethereum-based dApps can communicate with Umbrella Network code in the live environment — requesting and getting data that is reliable, comprehensive, and cost-effective.
ETH price at ,431 | Source: ETHUSD on TradingView.com
Speaking on the mainnet launch, founding partner Sam Kim said, “We are absolutely thrilled to be able to achieve this important milestone. We will now be able to serve the needs of the largest DeFi community with our decentralized oracles, and look to address real challenges the community faces when it comes to the high cost, low availability of data offerings in the ecosystem today.”
The company has been busy with acquisitions and new products in recent months. In May, the network launched on Binance Smart Chain (BSC) mainnet. Umbrella network also stated its plans for future cross-chain integration with Polygon, Solana, Cardano, and Avalanche, in the coming months. In the same breath, it mentioned the launch of its in-house developed Token Bridge next week. This enables seamless transfers of $UMB across all supported Blockchains.
Featured image by @UmbNetwork on Twitter, Chart from TradingView.com
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How This Cardano Platform Will Benefit From Chainlink Oracles
CardStarter will integrate Chainlink’s Verifiable Random Function (VRF). Thus, CardStarter will have access to Chainlink’s solutions. Its VRF will “guaranteed” that actions within this platform are fully randomized without any bias and protected against manipulation.
CardStarter is an important part of Cardano’s ecosystem, via its decentralized platform project on this blockchain has a launchpad with a swapping feature integrated. With CardStarter, “early-stage Cardano innovators” can connect with the community.
The platform has selective listings with a quality assurance program, an insurance fund back by the community, development resources, and a mechanism for projects to raise capital with “Token Vouchers”.
Chainlink use case in Cardano’s ecosystem
Chainlink VRF will be used in the CardStarter tiered system. That way, “Card” holders will be able to receive rewards via a “secured lottery”. The VRF solution will have to select a Card hold to participate in “a token sale”.
Also, users will leverage NFT when they become available to “Cards” holders. CardStarter will reward a user’s loyalty, for example. An official post claims the following:
The integration of Chainlink VRF will play a key role in ensuring the CardStarter ecosystem provides equal and provably unbiased opportunities to all participants in regards to earning IDO participation rights and rewards of varying valuations. We are excited to see this integration come to fruition and further improve the CardStarter user experience.
Cardstarter’s team selected Chainlink’s solution due to its “high integrity system” and the capacity to provide users with proof of randomness with no way of being predicted. The solution ensures the integrity of the process by providing cryptographic proof which can only be generated by the VRF.
Chainlink VRF 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 integration is set to bring “more transparency and security” to Cardano’s ecosystem. CardStarter aims to become one of the strongest accelerator and swapping platform on this blockchain. Shuffle, Founder of CardStarter said the following in an official post:
We look forward to providing Deuces holders with equal opportunities for participating in upcoming IDOs, and plan to continue exploring various other ways that Chainlink VRF can be utilized to enhance the CardStarter experience.
Cardano (ADA) with potential for a 266% upside move
ADA is trading at ,42 with 2.4% losses in the past day. In the weekly and monthly chart, ADA has 15.8% and 14.4%, respectively.
![Cardano ADA ADAUSDT](https://www.newsbtc.com/wp-content/uploads/2021/04/Cardano-ADA-ADAUSDT-860x424.png)
With Cardano’s smart contract capabilities around the corner further integration with renowned services, like Chainlink, could give it a bigger advantage over Polkadot and Ethereum to take the number 1 spot on DeFi.
For ADA holders, the coming months look bullish, according to trader Justin Bennet. He claims that there is a correlation between VeChain (VET) and ADA, the former cryptocurrency has a lead on what could be a 266% rally for the latter.
The current $VET to $ADA correlation shows VET is running a 266% lead on ADA.
Said differently, VET’s rise points to a .20 ADA based on today’s prices.
How the tables have turned.#VeChain #Cardano https://t.co/sclsj48B2e pic.twitter.com/XzkyjKewUC
— Justin Bennett (@JustinBennettFX) April 16, 2021