Arche

Chainlink × Arche Network

Arche Network Integrates Chainlink VRF and Price Feeds into GameFi Launchpad and Prediction Market!

Arche Network is excited to announce that we have integrated multiple Chainlink decentralized oracle solutions. We’re using Chainlink Verifiable Random Function (VRF) to fairly select buyers in our GameFi launchpad, and Chainlink Price Feeds in Arche Network v1 for settling prediction markets and time-based swaps.

Chainlink VRF is the leading RNG solution for smart contracts that need on-chain randomness. It helps Arche Network v2.0 provide a tamper-proof and transparent launchpad to users. Using Chainlink VRF, GameFi projects can launch transparently verifiable mystery box events on Arche Network.

Chainlink Price Feeds offers premium price data with wide market coverage and robust oracle infrastructure. Price data from Chainlink Price Feeds is accurate, delivered on time, and resistant to various types of exploits and issues that plague other Oracle solutions, such as exchange downtime, flash crash outliers, and data manipulation attacks. Our prediction markets and time-based swaps are now using Chainlink’s high-quality price oracles for secure and reliable settlement.

Arche v1 is the Eros token store. Live and audited by Peckshield, it serves as a marketplace for ERC20 assets and over-the-counter (OTC) trades. Arche v2 is a game store called Echo. In Arche v2, sellers of GameFi projects will be able to create public whitelists for mystery box orders and let users buy and mint ERC-721 NFT assets.

The Arche GameFi marketplace will enable millions of gamers and esports fans to trade NFTs and virtual in-game items in the dApp using a comprehensive set of Arche features, including royalties, instant sale, custom payment tokens, and a matchmaking system. The platform also provides derivative services for trading game props, such as swap buttons and lending tools, enabling users to have a smooth trading experience.

In order to help ensure verifiable randomness in our mystery box system, 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 time-tested oracle infrastructure, 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 Arche Network 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 our giveaways are provably fair and were not tampered with by the oracle, outside entities, or the Arche Network team.

“With Chainlink VRF helping secure our GameFi store, users can verify that no one was able to unfairly exploit the system to their benefit,” stated Jeremy Radley, the founder of Arche Network. “Chainlink VRF enhances our platform by creating stronger transparency guarantees around what would otherwise be opaque processes. We’re also excited to be using Chainlink Price Feeds, enabling us to start and settle our prediction markets and time-based swaps securely with accurate and up-to-date price data. We look forward to exploring further ways to integrate more Chainlink decentralized services in the future, including Chainlink Keepers for automating prediction market settlement.”

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 read the documentation at docs.chain.link. To discuss an integration, reach out to an expert.

About Arche Network

Arche Network is committed to building a user-friendly decentralized crypto asset store in Metaverse with a DPaaS (Decentralized Protocol as a Service) service architecture that allows sellers to create GAO/IGO/INO and MysteryBox contracts with the support of Decentralized Open Marketplace. It aims to provide a smooth trading experience for users in metaverse with access to Matchmaker, Swap, Farm, Lending, etc.

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Arche Network is committed to building a user-friendly decentralized crypto asset store and being the ultimate destination for players to enter Game in Web 3.