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Forget kittens, Chainlink’s verifiable randomness now brings fair winnings to “ChainFaces” golf games

A recently-launched project is now utilizing Chainlink to power golf games, building on the latter’s verifiable randomness function (VRF) that brings fair, “truly random” results on online games.

The post Forget kittens, Chainlink’s verifiable randomness now brings fair winnings to “ChainFaces” golf games appeared first on CryptoSlate.

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A recently-launched project is now utilizing Chainlink to power golf games, building on the latter’s verifiable randomness function (VRF) that brings fair, “truly random” results on online games.

VRF, in simple words, brings true randomness to blockchain-based applications that rely on picking winners or generating random outputs for users. The framework lets developers easily access and interact with “Oracles” on Chainlink, allowing the creation of fair Layer-2 applications.

Play golf with ChainFaces

Announced over the weekend, developers of ChainFaces, a generative art project ChainFaces said the first “spin-off minigame” utilizing ChainFace NFTs is now active.

Called FaceGolf!, the minigame uses Chainlink’s VRF to allow ChainFace collectible owners to take part in online golf minigames, with the winners winning certain rewards from a predetermined pool.

A blog post noted all golf round statistics will be recorded on on-chain metadata, allowing one to build stats and making the experience comparable to conventional online games. All such stats are immutable, courtesy the underlying blockchain.

ChainFaces founder Nate Hart and developer Skyler Fly said FaceGolf aims to push the boundaries of NFTs. Thus far, the latter’s most famous application was CryptoKitties, with only a few other projects reaching any meaningful usage.

CryptoKitties even overloaded the Ethereum blockchain with its popularity in early-2018, causing severe network congestion and inflated GAS fees.

(ChainFaces marketplace. Source: ChainFaces)

ChainFaces launched in early 2020, meeting a “hard cap” of 10,000 randomly generated NFT faces under a week. At the time, minted contracts used on-chain randomness to pick five aspects of an ASCII-based text face, with rarer faces sold upwards of one Ether on the secondary market.

ChainFace #4, pictured below, went on to sell for 10 ETH, the blog notes.

(Source: ChainFaces)

Fully on-chain NFTs

All metadata related to ChainFaces is stored on-chain and can be retrieved directly from this contract address. The blog states ChainFaces was among the first such instances to achieve a “fully on-chain status as an NFT.”

The blog added:

“ChainFace owners will now be able to use these NFTs against each other in golf matches whose outcomes will rely, in part, on the collectible’s individual stats. New collectibles with their own unique rarity scheme will emerge in the form of Golf Card NFTs.”

Based on a chosen NFT’s so-called “Golf Score” and a random input from Chainlink’s VRFs, users can compete in ChainFaces golf games. Randomness, in particular, helps with the creation of new NFTs and golfing crates. Details on the latter are expected closed to launch date, the blog said.

Meanwhile, ChainFaces said the project faced issues while implementing the on-chain randomness function in its earlier launch. Hackers, at the time, were able to mint faces using “special techniques that could abuse the contract RNG.” The illicit pieces were later purchased by ChainFaces to protect the integrity of other faces.

After deploying the Chainlink VRF, ChainFaces believes future users will not be subject to any unfair and malicious activity experienced previously.

The post Forget kittens, Chainlink’s verifiable randomness now brings fair winnings to “ChainFaces” golf games appeared first on CryptoSlate.

Source: https://cryptoslate.com/forget-kittens-chainlinks-verifiable-randomness-now-brings-fair-winnings-to-chainfaces-golf-games/

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Litecoin short-term Price Analysis: 01 December

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Disclaimer: The findings of the following article are the sole opinion of the writer and should not be taken as investment advice

The Litecoin market has been witnessing a resurgence on the back of Bitcoin’s recovery. The price of the asset has been close to $89.24 and has been consolidating between $90.83 and $85.26.

The current market has been inching closer to the selling pressure and an opportune time for a short position.

Litecoin 1-hour chart

Source: LTC/USD on TreadingView

According to the above chart, we can see the price rising along with an ascending channel. However, since the price surpassed $85, it has been consolidating. The current price is at a resistance point, but since the buying of the asset has gained enough momentum, there could be a drop making its way in the market.

Reasoning

The consolidation of LTC’s price is visible in the chart. Even though there has been constant bullish pressure in the market, there has been a strong buy-sentiment in the market.

The Relative Strength Index indicated this overbuying of the asset. The RSI signal had been in the overbought zone for a long time but recently sunk in the equilibrium zone. The current value of RSI was 64 and it has been moving between 64 and 70, which is still closer to the overbought zone. There are more chances due to this that price will have to adjust closer to the equilibrium level wherein the selling pressure and the buying pressure will be equal.

Positions

Entry for a short position: $89
Take Profit: $85.26
Stop Loss: $90.87
Risk/Reward Ratio: 1.99

Conclusion

Since the digital asset has been overbought at pres time, there could be selling pressure entering the market. The support has been developed at $85 and $80 if the price slips down the ladder, however, the overall trend has been bullish, at press time.

Source: https://eng.ambcrypto.com/litecoin-short-term-price-analysis-01-december

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Coinbase to incentivize market makers for improving the liquidity of less liquid trading pairs

Crypto exchange Coinbase has announced a new reward program for market makers who would improve the liquidity of its less-liquid trading pairs. 

The post Coinbase to incentivize market makers for improving the liquidity of less liquid trading pairs appeared first on The Block.

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Equals Posts Revenue Increase with Strong B2B Demand

The performance of its B2B offerings boosted the overall business.

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Equals Group plc (AIM:EQLS), previously known as FairFX, has released its financial details for the last five months, ending on November 30, showing an average daily revenue of £114,000.

The company’s overall business performance improved as in the previous six months, the average daily revenue came in at £110,000, while it was £108,000 in the previous year.

Despite the growth, Equals’ foreign exchange businesses were heavily impacted by the impact of the pandemic on the traveling industry. In fact, most of its revenue was generated by the B2B channels.

Equals’ B2B business portfolio, includes International Payments, proprietary Spend platform, Faster Payments, and business IBAN products, all of which together brought in around £82,000 in revenue daily in the past five months, a 9 percent jump in the numbers from the previous year.

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The daily revenues from Equals’ travel products, on the other hand, only came in at £12,000 per day on an average, compared to £34,000 generated on a daily basis last year. The Group, however, is expecting a partial rebound in demand next year and full recovery in 2022.

Effect of Wirecard Collapse

Equals’ businesses were further impacted by the collapse of Wirecard. The migration of its card infrastructure cost the company around £1 million, out of which 50 percent is a write-down of Wirecard stock and the rest need to be recovered from the supply chain.

“Despite the economic fallout from both Covid-19 pandemic and the collapse of Wirecard, the level of activity we are experiencing from our customers, particularly those in International Payments, but also now on the Spend platform provides us with increasing confidence for a recovery in 2021 and beyond,” Equals CEO, Ian Strafford Taylor said.

Meanwhile, the Group recently acquired the international payments business of Effective FX for £1.575 million.

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