Chainlink (LINK) is having a splendid day, soaring by almost 12 percent over the last 24 hours, according to CoinMarketCap data.
The native token of the leading decentralized oracle provider is currently the best-performing cryptocurrency in the top 50.
With its most recent uptick, LINK now occupies sixth place by market capitalization, having surpassed Binance Coin (BNB).
Chainlink’s VRF launches on the Ethereum mainnet
Earlier today, Chainlink made an announcement about launching its verifiable randomness (VRF) capability on the Ethereum mainnet.
The technology is now utilized in version 3 of lossless lottery game PoolTogether to pick prize pool winners.
PoolTogether co-founder Leighton Cusack explains VRF makes it possible not to rely on a centralized party for supplying randomness while making sure that it won’t be tampered by developers:
“Chainlink VRF offers a unique set of security guarantees ensuring that no one, including us as the developers, can tamper with the supplied randomness in order to manipulate the outcome of a contract.”
Altcoins see a sea of green
Altcoins have seemingly resumed their rally after hitting a pause button earlier this week. As reported by U.Today, LINK was the top laggard among the leading cryptocurrencies on Oct. 20, shedding more than ten percent of its value in one day in spite of Bitcoin’s strength.
Yesterday, Ethereum, Bitcoin Cash, and Litecoin ripped sharply higher together with Bitcoin after PayPal announced its highly anticipated cryptocurrency offering.
Ethereum, the second-largest cryptocurrency, has now rallied $417, its highest level since Sept. 3.
In the meantime, the king continues to flirt with the $13,000, with its market dominance dipping below 61 percent.