Pyth Entropy Launches on EVM Networks to Enhance GameFi and NFT Fairness
Pyth Entropy, a randomness generator, has been launched on Ethereum Virtual Machine (EVM) networks. It aims to provide a reliable source of randomness for blockchain applications including games, NFT drops, and decentralized prediction markets, ensuring fair and unpredictable outcomes. Utilizing a two-party commit-reveal mechanism, it ensures the generation of random numbers without the need for mutual trust. This randomness generator can hash multiple numbers upfront, reducing the number of transactions required and incorporating the chain’s blockhash to improve randomness. It offers comparably high security, akin to Chainlink’s VRF, and developers can integrate it with minimal coding effort. Notable applications already using Pyth Entropy include FLAP and Fungible Flip from Blast blockchain, along with SlashToken from Chiliz Chain.
Neutral
The launch of Pyth Entropy on EVM networks is a significant development for the blockchain ecosystem, particularly in the domains of GameFi and NFTs. Its ability to provide a reliable source of randomness is crucial for ensuring fairness in these applications. However, this news is likely to have a neutral impact on the general cryptocurrency market in the short term, as it represents an incremental technological improvement rather than a disruptive market event. Over the long term, tools like Pyth Entropy may contribute to enhancing the credibility and adoption of blockchain applications, potentially having a positive impact on the broader ecosystem’s growth. However, in terms of direct trading activities and market stability, its immediate effect is expected to be neutral.