Story Integrates Chainlink VRF To Help Power its Raffle With Verifiable Randomness

Story Integrates Chainlink VRF To Help Power its Raffle With Verifiable Randomness

We’re excited to announce that Story, an incentivized crowdfunding social network powered by its own utility token, has integrated Chainlink Verifiable Random Function (VRF) on BNB Chain mainnet. By integrating the industry-leading decentralized oracle network, we now have access to a tamper-proof and auditable source of randomness needed to help randomly select winning tickets for our raffle. Ultimately this creates a more exciting and transparent user experience, as users can be confident that the raffle draws are powered by a fair and verifiable source of randomness..

Story is a platform that aims to help others and disrupt the traditional crowdfunding space. For example, Story has initiated a raffle contest, primarily as a means to raise funds for charities.

At Story, we encourage our users to tell stories about other people rather than about themselves.. We provide an incentivized environment that encourages users to help others. Our raffle serves as a donations campaign where donors can purchase tickets for the chance to receive certain benefits.

Purchase tickets for Story Raffle

Click here to Enter the Raffle NOW!

In order to help randomly select raffle winners and help assure users that the selection process is fair and transparent, we need access to a secure random number generator (RNG) that any user could independently audit. However, RNG solutions for smart contracts require several security considerations to prevent manipulation and ensure system integrity. For instance, RNG solutions derived from blockchain data like block hashes can be exploited by miners/validators, while off-chain RNG solutions derived from off-chain APIs are opaque and don’t provide users with definitive proof about the integrity of the process.

After reviewing various solutions, we selected Chainlink VRF because it’s based on cutting-edge academic research, supported by a time-tested oracle network, and secured through the generation and on-chain verification of cryptographic proofs that prove the integrity of each random number supplied to smart contracts.

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 Story Raffle smart contract will only accept the random number input if it has a valid cryptographic proof, and the cryptographic proof can only be generated if the VRF process is tamper-proof. This provides our users with automated and verifiable assurances directly on-chain that “pickWinner()” function is provably fair and was not tampered with by the oracle, outside entities, or the StoryToken team.

Chainlink VRF and Verifiable Randomness

StoryToken intends to use Chainlink VRF to help distribute NFTs and digital assets in the future.

“Chainlink VRF provides us with a safe, reliable, and verifiable way to help randomly pick winners. We want our users to feel confident that the process is fair and transparent and Chainlink VRF helps us to provide them with this assurance.”
John Whitehead

About Chainlink

Chainlink 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.

Learn more about Chainlink by visiting chain.link or reading the developer documentation at docs.chain.link. To discuss an integration, reach out to an expert.

About Story

Story is a platform that helps others. Every story counts! From sad events to happy moments, every story matters. We live in a world with billions of untold stories, as well as the unheard and voiceless, for lack of a platform. Story is also a crowdfunding platform dedicated to reshaping traditional crowdfunding by offering a low barrier of entry for anyone with a smartphone, anywhere in the world.

To incentivize users, we offer engagement rewards and Storyteller tipping. These incentives encourage users to share and promote the stories happening all around them on the Story platform Our platform provides an opportunity for countless stories all over the world to have happy endings. But the story is not the end goal, the goal is to change the dominant narrative of the subject’s life.

Want to raise funds for the community hero who risked it all for others? Want to help someone with medical bills? Help fund a marriage? Help that kid have a good birthday? ... like we said, every story counts!

More about Story? Visit Story Token Website