HomeNEWSChainlink, iLottosolutions collaborate to expand usage of proof-of-concept mechanism

Chainlink, iLottosolutions collaborate to expand usage of proof-of-concept mechanism


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ILottoSolutions has collaborated with ChainLink to strengthen the security and transparency of its lottery solution. The firm made the announcement today through an official blog post. As revealed, iLottoSolutions will integrate Chainlink’s VRF into iLotto’s platform. With the protocol, iLotto will be empowered with a trust-minimized approach to generate random numbers.

With ChainLink, iLottoSolutions will decentralize the number generation process for its lottery. In addition, the decentralization will ensure that none of the parties involved in the number-generation process will have power to alter the result of the draws. Therefore, ensuring that lottery draws are fair, transparent, and tamper-proof. Now, the integration will help emphasize the authenticity of draw results, consequently building trust among customers.

Furthermore, iLottoSolutions provided more insights into the benefits of the collaboration. The firm established that it intends to avail innovative features for its Lottery and Sports Jackpot Solutions to licensed lottery providers. Additionally, iLottoSolutions registered hope in its collaboration with ChainLink to make it happen in the most efficient and cost-effective way.

Withal, iLottoSolutions described how various blockchain solutions had incorporated ChainkLink. The firm went on to describe the protocol as an important technology for the advancement of the Web3 ecosystem. Meanwhile, the partnership with the protocol will provide iLottoSolutions with a pathway into the blockchain sphere.

Since it launched its BUILD program, Chainlink has been attracting a lot of interest. Just last month, a renowned DeFi solutions hub, StarkDeFi joined the BUILD program to promote its ecosystem as well as enable the long-term adoption of its DeFi products. By joining BUILD, the protocol now relies on the oracles offerings by Chainlink. More so, it is expected that Chainlink will also provide technical support and enhanced cryptoeconomic security to StarkDeFi. As for StarkDeFi, it has to provide network fees and a few other benefits to the Chainlink ecosystem for the offerings.

Worth noting that StarkDeFi is not the only firm that has joined BUILD. Recently, PLEXUS also made a similar move to ensure the long-term adoption of its cross-chain DEX aggregator. Just like StarkDeFi, PLEXUS also seeks to leverage the oracle offerings provided by Chainlink. Additionally, the project is on course to also enjoy cryptoeconomic security through the integration so as to gain better recognition among the crypto community. In return, PLEXUS aims to offer network fees and other benefits to the Chainlink community.

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Dare Ibitoye
Dare Ibitoye
Over the years, Dare has been a committed reporter in the field of cryptocurrencies. He is also interested in researching about the innovative projects within the blockchain space. During his spare time, Dare loves to listen to music and read about technological trends in the contemporary world

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