Chainlink is one of the leading oracle solutions on the market at present. The main task of an oracle is to open up avenues for interchain communication. Oracles allow smart contracts to communicate with data that is part of another blockchain.
The Chainlink Price Feeds are the best oracle solution to connect smart contracts with price fluctuations in the market in real-time. The ChainLink Price Feeds make it possible for smart contracts to retrieve the price of any asset at present in a single call.
iBetYou is planning to integrate this technology into their gameplay. They will use the Chainlink technology to replace the judges for special mode games. Gamers will now be able to speculate on the prices of different cryptos without going through the process of going to a judge. The iBetYou dashboard will have a separate option for users to access this feature, along with a feature to link to the marketplace to play these special mode games.
iBetYou will further take forward this process of removing judging bias by introducing the Verifiable Random Function of Chainlink. In the future, iBetYou envisions that all their token holders can become part of the judging process by locking up their tokens for a particular period. The Chainlink VRF tool will then be utilized to select the judges from this pool of locked token holders. This will remove all bias that can creep into the process of winner prediction.
The introduction of the Chainlink VRF is part of iBetYou’s broader objective to achieve complete decentralization. In the future, they will continue using various technologies like oracles until they can launch a DOA to govern their complete protocol fully. iBetYou’s innovations are playing a significant role in the advancement of decentralization technologies and strategies.