GET Protocol, a blockchain-based event ticketing solution, and Chainlink, the decentralized oracle network, today have announced joining forces to further improve the transparency of the user flow for the hundreds of thousands of fans that make use of GET Protocol to buy blockchain-backed smart tickets.
By integrating Chainlink VRF (Verifiable Randomness Function) in GET Protocol’s digital waiting line, ticket buyers for popular events are provided with an honest and transparent chance of buying a ticket.
Use-Case
For popular events where ticket demand exceeds the available supply, the order of the waiting line will be shuffled randomly, to provide a fair opportunity for all fans to get their hands on a ticket. As the name suggests, this randomness will be verifiable, taking away any possibility for centralized misconduct on the side of the ticketing company, promotor, or event organizer.
VRF
Chainlink VRF seeks to meet both of these requirements by delivering its randomness along with cryptographic proofs that can be verified on-chain, showing that the randomness is indeed unpredictable. Due to the on-chain verifiable nature of Chainlink VRF’s randomness, participating nodes can only withhold a request, for which they would be financially penalized using Chainlink’s upcoming staking capabilities, and possibly removed from future queries that would have paid fees for their randomness.’
“We are completely convinced that the application of blockchain is the future of the multi-billion dollar ticketing industry. Not only does it solve huge issues like scalping and fraud, it provides much-needed transparency and restores value to the rightful owner. With Chainlink VRF as our randomness provider, a valuable layer of transparency is added to our system. We are working hard to achieve our goal of becoming the worldwide standard for tickets-on-blockchain. With this integration, I believe we are one step closer to our goal.”
– Maarten Bloemers, CEO and co-founder of GET Protocol