Financie Engages Technical Collaboration with Chainlink

Financie, Inc.
3 min readAug 25, 2023

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~ Introducing the Chainlink Verifiable Random Function, Enhanced governance and security in the selection of validators for FNCT staking. ~

Financie, Inc.(hereafter “Financie”) announces that it has engaged a technical collaboration with Chainlink. Under the collaboration, Chainlink Verifiable Random Function (Chainlink VRF) will be introduced in the staking function of the cryptographic asset FNCT (Financie Token) issued by Financie, with the aim of further strengthening the governance and security of validator selection. The aim is to further strengthen the governance and security of validator selection.

FNCT is a crypto asset issued on the Ethereum blockchain. It serves as a platform token that effectively connects Community Token issued and used in “FiNANCiE,” a token issuance-based crowdfunding service utilizing the blockchain provided by Financie, Inc. in order to enhance the long-term value of Community Token.

FNCT Staking is a service where FNCT is earned as a reward for regularly recording transaction history on the blockchain to ensure the transparency and value of CTs (Community Tokens) issued and used on FiNANCiE. in just 3 days, the amount of FNCT locked has reached over 1.1 billion FNCT.

In order to grow the FNCT token economy, it is planned to invite external partners to participate as validators in FNCT staking. In this context, the introduction of the Chainlink VRF, which can prove that the selection of validators who will be rewarded has been carried out impartially, improves governance and security and creates a safer and more secure environment for validators and FNCT holders to participate in the staking process. The Chainlink VRF has been implemented to improve governance and security and create a safer and more secure environment for validators and FNCT holders to participate in staking.

About FNCT Staking

How to participate in FNCT Staking
https://financie-fnct.medium.com/fnct101-%E2%91%A4-what-is-fnct-staking-participating-in-staking-7835727232e7

About Chainlink Verifiable Random Function (Chainlink VRF)

Chainlink VRF provides random number generation and tamper-proofing that can be verified on the blockchain. Both random numbers and cryptographic proofs are generated by combining block data, which is still unknown at the time of the request, with a pre-matched cryptographic key by an oracle node; FNCT Staking smart contracts only accept random number input if they have a valid cryptographic proof. Cryptographic proofs are only generated if the Chainlink VRF process cannot be tampered with.

This mechanism provides an automatic and verifiable guarantee on-chain that the validator has been fairly elected in the FNCT staking and has not been tampered with by someone outside the chain.

For more information on Chainlink VRF, see
https://blog.chain.link/chainlink-vrf-on-chain-verifiable-randomness/

About Chainlink

Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.

Learn more about Chainlink by visiting chain.link or reading the developer documentation at docs.chain.link. To discuss an integration, reach out to an expert.

About FNCT (Financie Token)

【WEBSITE】
Main page : https://fnct.xyz
Whitepaper : https://fnct.xyz/whitepaper/en

【SNS】
Twitter (JP) : https://twitter.com/Fnct_Official
Twitter (EN) : https://twitter.com/Fnct_Officialen
LINE : https://lin.ee/8M4HSQW

About Financie, Inc.

Financie, Inc. is a company that provides consecutive support for the formation of token-based communities and ecosystems, including the blockchain-based token-issuing crowdfunding service FiNANCiE, the NFT business, and the IEO support business. Currently, we have issued, sold, planned, and operated tokens for over 200 sports teams, entertainment projects, and individuals, and are aiming to establish the only Web3 platform in Japan that supports the formation and expansion of token ecosystems in a single integrated manner.

FiNANCiE https://financie.jp/
Company Name: Financie, Inc.
CEO: Hironao Kunimitsu
Incorporated in: Jan, 2019
Location: Cerulean Tower 15F 26–1 Sakuragaokacho, Shibuya-ku, Tokyo, 150–8512 Japan
Contact: https://www.corp.financie.jp/en/contact

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Financie, Inc.
Financie, Inc.

Written by Financie, Inc.

CEO: Hironao Kunimitsu Founded on: January 2019 / Content of Business: Research and development of blockchain technology