{"id":107646,"date":"2021-01-07T10:50:01","date_gmt":"2021-01-07T10:50:01","guid":{"rendered":"https:\/\/precoinnews.com\/?p=107646"},"modified":"2021-01-07T10:50:01","modified_gmt":"2021-01-07T10:50:01","slug":"dvision-network-integrates-with-chainlink-to-bring-fair-random-rewards-distribution-nft-costing-to-their-vr-ecosystem","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/dvision-network-integrates-with-chainlink-to-bring-fair-random-rewards-distribution-nft-costing-to-their-vr-ecosystem\/","title":{"rendered":"Dvision Network Integrates with Chainlink to Bring Fair Random Rewards Distribution & NFT Costing to Their VR Ecosystem"},"content":{"rendered":"

January 7th 2021, Seoul, Korea – <\/b>South Korean-based VR Content Ecosystem Dvision Network<\/span> has announced an integration of its technology with market-leading blockchain oracle solution Chainlink. Chainlink\u2019s Decentralized Price Feeds, will enable Dvision Network users to accurately estimate the cost of NFT item creation in its VR marketplace. Additionally, Chainlink\u2019s Verifiable Random Function (VRF) will enable the secure, provably-fair random generation and distribution of on-chain rewards to its users.\u00a0<\/span><\/p>\n

What is Dvision Network?<\/b>\u00a0<\/b><\/p>\n

Dvision Network<\/span> is a pioneering new VR metaverse on the blockchain, which aspires to set the new standard of what is possible for the VR user experience. By utilizing the exponential potential of Blockchain and VR technologies, Dvision network will create an unprecedented and inclusive virtual ecosystem for businesses, designers, and regular users.\u00a0<\/span><\/p>\n

The South-Korean powerhouse aims to establish an efficient VR ecosystem with a new concept, addressing the arising issues in the VR industry. Dvision offers high-quality pieces of content in the VR-City, and a customization of the virtual space in the VR-Space and essentially expands the VR ecosystem via its VR-Market, introducing its unprecedented NFT ecosystem.<\/span><\/p>\n

Blockchain Oracles And Smart Contracts: A Perfect Match?<\/b><\/p>\n

Blockchain oracles are devices or programs that enable (on-chain) smart contacts to interact with off-chain data and systems outside their native blockchain. This relationship allows the smart contracts to execute on-chain functions based on real-world data and events such as web APIs, IoT networks, and blockchain data-centric networks.\u00a0<\/span><\/p>\n

This new ability to use external data in smart contract applications has been a massive breakthrough, greatly expanding the amount of use cases possible on blockchains. The only caveat with this optimal relationship is that the oracle is responsible for executing the smart contract and must have a level of security and reliability equal to the underlying blockchain.\u00a0<\/span><\/p>\n

Chainlink Decentralized Oracle<\/b><\/p>\n

Chainlinks decentralized blockchain oracle uses a unique flexible framework preventing any one point of failure whilst allowing users to receive data from external sources. The initial intergration with <\/span>Division Network<\/span> will leverage Chainlinks hugely successful <\/span>decentralized price feeds<\/span> as the primary oracle solution in the NFT marketplace.\u00a0<\/span><\/p>\n

Chainlink Price Feeds will be used to calculate the exact gas fees incurred when creating NFTs, ensuring users have access to accurate, up-to-date data on the true costs of using the network. Chainlinks Price Feeds were selected exclusively for their best-in-class features, including:<\/span><\/p>\n