DotMoovs – an innovative competitive-environment platform working to bring international sports competition to the virtual world – has announced it has integrated with the ChainLink Verifiable Random Function (VRF).
ChainLink’s VRF will be used by the platform as a powerful and secure oracle infrastructure, providing DotMoovs with a tamper-proof and auditable source of randomness necessary for the fair distribution of exclusive prizes, NFTs and other rewards.
DotMoovs’ platform offers a virtual competitive environment designed to overcome the geographical barriers to sports through a system that rewards participants for practicing or competing online with their native $MOOV token and rare NFT prizes.
Speaking with Coin Rivet, Ricardo Martins Costa, Director of Growth at DotMoovs, said the integration created a usable connection between crypto and sport.
“It’s absolutely great to be at the forefront of what is possible, and to know we are pushing boundaries,” he said.
“But it’s also a great responsibility to be creating a project that merges blockchain with a sports app that everyone can use – it’s up to us to open the crypto world to the everyday athlete.”
The project has unlocked significant capital; raising $840,000 in a private funding round in May with support from Morningstar Ventures and Moonrock Capital.
The creation of a virtual sports environment aims to democratise sport through a system that is not hindered by geographic differences such as a lack of international opportunities to measure and assess an athlete’s skills relative to other players.
According to Ricardo, democratising international sport is at the very heart of their project.
“It all started with the idea of finding a way to improve sports performance and allowing amateur athletes to earn some money from their passion,” he added.
“We could see sports enthusiasts that were good at a particular sport but never had the chance of making it profitable in anyway. By removing physical barriers and providing a good digital experience we can push competition and performance to a new level, faster and with less investment from the athletes.”
In developing countries across the globe, the technology could offer a lucrative opportunity to monetise their abilities outside of the constraints of domestic fiat currencies.
However, it can be difficult to implement ambitious projects like DotMoovs across developmental paradigms.
“It sure isn’t easy to achieve excellence and monetise skills when life conditions are the main barrier to people’s development,” explained Ricardo.
“But that’s exactly what we try to bring to the table – the removal of barriers.
“Smartphones and mobile data are widely spread, and even in developing countries the penetration ratio is very high – +50% on average. So DotMoovs presents no barriers to entry, as long as people have a smartphone and internet connection it’s open for all.”
ChainLink VRF Integration
One of the leading oracle networks for hybrid smart contracts, Chainlink Decentralised Oracle Networks, provides developers with high-quality data sources and secure off-chain computations to expand the capabilities of smart contracts on any blockchain.
Managed by a global, decentralised community, Chainlink currently secures billions of dollars in value for smart contracts across decentralised finance (DeFi).
DotMoovs explained that 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 Dotmoovs smart contract will only accept the random number input if it has a valid cryptographic proof, and this can only be generated if the VRF process is tamper-proof.
When asked about ChainLink as an integration choice, Ricardo added that Chainlink was the industry standard for a reason.
“When we integrate or partner with other companies and technologies we don’t do it thinking on their reputation, we do it thinking on how we can benefit our users with it,” he said.
“And in this case, Chainlink is definitely presenting a robust and secure technology that our users will benefit from.”
More crypto news and information
If you want to find out more information about Bitcoin or cryptocurrencies in general, then use the search box at the top of this page. Here’s an article to get you started.
As with any investment, it pays to do some homework before you part with your money. The prices of cryptocurrencies are volatile and go up and down quickly. This page is not recommending a particular currency or whether you should invest or not.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.