Web3 Services: Chainlink and Arbitrum, the L2 Scaling Solution for Ethereum dApps, Announce Launch of Chainlink VRF

Chainlink, the industry-standard Web3 services platform, and Arbitrum, the Layer 2 scaling solution suite for Ethereum dApp development, have announced the launch of Chainlink VRF (Verifiable Random Function) on Arbitrum One.

Chainlink VRF is described as “the industry’s most widely adopted random number generator (RNG), fulfilling more than 15.8 million request transactions and currently providing verifiable randomness to more than 6,300 unique smart contracts across multiple blockchains.”

VRF reportedly provides “an easy-to-use subscription management app for accessing a secure source of randomness, and empowers smart contract developers to build the next wave of provably fair and scalable NFT and gaming applications.”

Johann Eid, VP of Go-To-Market at Chainlink Labs, said:

“Ethereum Layer 2s like Arbitrum play a fundamental role in offloading transaction congestion from Ethereum, without sacrificing the security needed to ensure the healthy growth of the blockchain industry. We’re excited about the use cases that can now be unlocked by optimizing Chainlink VRF to benefit from the incredible speed enabled by Arbitrum.”

Arbitrum One is “an optimistic rollup for Ethereum that powers high-throughput, low-cost dApps.”

Chainlink VRF “provides cryptographically secure randomness for blockchain-based applications, and is now available on the Arbitrum network.”

By combining Chainlink’s reliable VRF solution with Arbitrum One’s Layer 2 ecosystem, developers now “have access to the leading RNG in the blockchain industry.”

A.J. Warner, Chief Strategy Officer at Offchain Labs, said:

“The implementation of Chainlink VRF on Arbitrum One is a great win for both the Arbitrum and Chainlink communities. Chainlink VRF is a time-tested solution, and its transparency and security is a welcome benefit for Arbitrum users. We look forward to the innovation this sparks with our community and continuing our work with Chainlink Labs in the years to come.”

In December 2022, Chainlink Automation “went live on Arbitrum One, helping developers build advanced dApps to reliably trigger key smart contract functions.”

As covered, Chainlink claims it 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.”

As mentioned in the update, the Arbitrum Foundation, “founded in March 2023, supports and grows the Arbitrum network and its community with secure scaling solutions for Ethereum.”

The Foundation oversees “the $ARB token and governance structure as well as the Arbitrum Security Council, a 12-member multisig of well regarded community members designed to ensure the security of the chains. Arbitrum One is a leading Ethereum Layer-2 scaling solution developed by Offchain Labs.”

An Optimistic Rollup, Arbitrum One “provides ultra-fast, low-cost transactions with security derived from Ethereum.”

Launched in August 2021, the Arbitrum One mainnet beta “is EVM-compatible to the bytecode level and has 65%+ TVL in the L2 segment. 400+ DeFi and NFT projects are live in the ecosystem to date.”

In August 2022, Arbitrum One “upgraded to Nitro tech stack, enabling fraud proofs over the core engine of Geth compiled to WASM.”

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