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 $1,42 with 2.4% losses in the past day. In the weekly and monthly chart, ADA has 15.8% and 14.4%, respectively.
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.
Said differently, VET’s rise points to a $5.20 ADA based on today’s prices.
— Justin Bennett (@JustinBennettFX) April 16, 2021