Last updated a month ago
Cardano does not currently have a verifiable, on-chain open-source Random Number Generation Library for dApps and smart contracts.
This is the total amount allocated to Smart Contract based On-chain Random Number Generation (RNG) Library. 4 out of 4 milestones are completed.
1/4
Planning and Design
Cost: ₳ 24,000
Delivery: Month 1 - Apr 2024
2/4
Development
Cost: ₳ 24,000
Delivery: Month 2 - May 2024
3/4
Testing
Cost: ₳ 10,000
Delivery: Month 3 - Jun 2024
4/4
Opensourcing, Launch, and Project Closure
Cost: ₳ 22,000
Delivery: Month 4 - Jul 2024
NB: Monthly reporting was deprecated from January 2024 and replaced fully by the Milestones Program framework. Learn more here
Creating an on-chain Random Number Generation (RNG) Library delivers a verifiable & transparent way to ensure randomization. This functionality is crucial for the ecosystem (Gaming, DeFi, Rewards)
No dependencies.
The project will be open source under MIT License. This will allow anyone to do whatever they wish with the original code, as long as the original copyright and license notice is included either in the distributed source code or software.
SDG Goals
8 - Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all
9 - Build resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation
17 - Strengthen the means of implementation and revitalize the Global Partnership for Sustainable Development
SDG Subgoals
17.19 - By 2030, build on existing initiatives to develop measurements of progress on sustainable development that complement gross domestic product, and support statistical capacity-building in developing countries
9.1 - Develop quality, reliable, sustainable and resilient infrastructure, including regional and transborder infrastructure, to support economic development and human well-being, with a focus on affordable and equitable access for all
9.b - Support domestic technology development, research and innovation in developing countries, including by ensuring a conducive policy environment for, inter alia, industrial diversification and value addition to commodities
Our proposed solution is centered on developing an On-chain Random Number Generation (RNG) Library for the Cardano ecosystem, addressing a critical gap: the absence of a reliable and verifiable source of randomness within smart contracts and decentralized applications (dApps) on Cardano.
Currently, a majority of dApps and protocols, which handle hundreds of thousands of dollars' worth of assets – and potentially millions as Cardano grows – rely on random number generation. These either use off-chain libraries or smart contracts deployed on other blockchains. Such an approach raises concerns regarding fairness and transparency
The lack of a dependable, Cardano-native, on-chain source of randomness poses significant challenges, particularly in sectors like gaming and gambling, where fairness and transparency are paramount. Our strategy involves constructing a robust, decentralized On-chain Random Number Generation (RNG) Library. This library will capitalize on Cardano's infrastructure to provide a secure, tamper-resistant source of randomness for smart contracts and dApps
This project engages developers, smart contract creators, and dApp enthusiasts within the Cardano community. By providing a foundational tool like the On-chain Random Number Generation Library, we empower these stakeholders to create more innovative, fair, and secure applications. This library will serve as a fundamental building block, enhancing the ecosystem's reliability and attracting more users and developers to Cardano. Below are few of the core areas:
2. NFT Creation and Distribution: RNG is used to determine the unique attributes and rarity of NFTs, enhancing their value and distinctiveness.
3. Lucky Draws and DeFi: RNG is crucial for equitable reward distribution in lucky draws and gamified DeFi applications.
4. Marketing Campaigns and Loyalty Rewards: RNG enables random selection of participants, ensuring unbiased distribution of rewards in loyalty and marketing programs.
5. Fair Selection and Ordering Processes: RNG facilitates fair selection in high-demand scenarios, guaranteeing impartial processes.
6. Authentication and Security: RNG contributes to system security by generating unpredictable cryptographic values.
and many more...
Our impact will be demonstrated through the successful implementation and integration of this library within Cardano's ecosystem. We will conduct thorough testing, and documentation to ensure its functionality, security, and ease of integration. Furthermore, we'll collaborate with the Cardano community, seeking feedback and actively involving developers to validate its usability and effectiveness.
Progress and community engagement will be transparently tracked through GitHub, utilizing metrics such as the number of contributors, forks, and detailed analytics. This approach will provide tangible evidence of the library's adoption and evolution, as well as foster an open-source culture of continuous improvement and collaboration.
What makes our solution unique is its direct contribution to the trustworthiness and fairness of Cardano's ecosystem in a decentralized manner. By enabling transparent and secure randomization within smart contracts and dApps, our solution benefits developers by providing a critical tool for creating reliable applications. Users will experience increased confidence in utilizing services built on Cardano, fostering greater adoption and attracting a wider audience.
Value to the Cardano Community:
Measuring Impact:
Sharing Outputs and Opportunities:
The capability of our team to deliver the Smart Contract based Onchain Randomness Library with high trust and accountability is evident through several key factors:
Tested Proof of Concept (POC): We have validated the feasibility of our On-chain Random Number Generation (RNG) concept through a comprehensive POC which was implemented in https://alpha.lottery.lovelaceclub.com/ throughout 21 rounds spanning over 1 year. This approach ensures that our solution is practical, reliable, and well-tested before full-scale implementation, ensuring its technical feasibility and reliability.
Technical Validation: Rigorous testing, including performance evaluations, and scalability assessments, will be conducted. These measures guarantee the library's ability to provide secure and verifiable random number generation within smart contracts on Cardano, ensuring it meets anticipated user demands and maintains robust security standards.
Expertise and Experience: Our team possesses extensive experience in blockchain development and cryptography, providing us with a profound understanding of the complexities involved. We have successfully developed several products within the Cardano ecosystem, including an on-chain randomized lottery protocol (https://alpha.lottery.lovelaceclub.com/), app.nucast.io, and an NFT ticketing solution for the Cardano Summit 2023.
With a collective experience of over 20 years in the blockchain domain, our team is well-equipped with the necessary expertise to develop and deliver this project.
Financial Management:
Phase 1: Planning and Design
Duration: 2 weeks
Verifiable Onchain RNG Algorithm Design:
Smart Contract Design:
Project Setup:
Phase 2: Development
Duration: 6 weeks
Smart Contract Development:
Onchain RNG Algorithm Design:
Phase 3 : Testing
Duration: 3 weeks
Phase 4 : Opensourcing
Duration: 2 weeks
Final Milestone:
Final Phase : Launch & Marketing
Duration: 2 weeks (initial deployment) and ongoing
Launch and Marketing:
Sricharan Ganta, CEO @ Nucast
Sricharan is a successful entrepreneur and business development strategist with over seven years of experience in business-driven roles and over four years of experience in the web3 domain. He has a successful track record of delivering innovative products on the Cardano Blockchain. As the CEO of Nucast, Charan is extremely passionate about community building and pioneering solutions. He currently leads a dynamic team of 15+ professionals at Nucast Labs. Additionally, he holds a Masters in Computer Science from the University of Central Missouri, USA.
Adnan Khan, COO @ Nucast
Adnan is an experienced professional in the web3 domain with a strong track record of assisting early-stage startups in building MVPs, managing communities, securing grants, and achieving scalability. His expertise lies in data analytics and web3 development, with a particular focus on on-chain analytics.
Currently, Adnan serves as a research analyst at GravityX Capital, a prominent web3 institutional fund. He has actively collaborated with leading web3 ecosystems and startups such as dYdX, Polygon, Frontier, Bullieverse, among others. Additionally, Adnan is also a three-time Catalyst winner, having completed and closed all three proposals successfully.
Sam Jeffrey M, CTO @ Nucast
Building tech on Cardano for 3+ years. Worked as Plutus Consultant at Gimbalabs. Awarded the Presidential Award for Innovation 2021 by the Government of India.
Nucast Labs : Successfully built various scalable Cardano dapps. Nucast is proud to host a highly skilled and experienced development team of 15+ members with over 30 years of combined industry experience.
Phase 1
Senior Cardano Developer 100 ADA x 50 Hours = 5000 ADA
Smart Contract Developer 100 ADA x 150 Hours = 5000 ADA
Phase 2
Senior Cardano Developer 100 ADA x 150 Hours = 15000 ADA
Smart Contract Developer 100 ADA x 150 Hours = 15000 ADA
Phase 3 -
Senior Cardano Developer 100 ADA x 100 Hours = 10000 ADA
Smart Contract Developer 100 ADA x 100 Hours = 10000 ADA
Phase 4 -
Senior Cardano Developer 100 ADA x 50 Hours = 5000 ADA
Smart Contract Developer 100 ADA x 50 Hours = 5000 ADA
Final Phase -
Smart Contract Developer 100 ADA x 50 Hours = 5000 ADA
Full stack Developer 100 ADA x 50 Hours = 5000 ADA
An open source On-chain Random Number Generation (RNG) Library offers great value for the Cardano ecosystem for several reasons:
This is not just spending, but a strategic investment in Cardano's future, enhancing its capabilities, trust, and appeal in the blockchain space.