Terrand is helping to secure multi millions of dollars protocols on Terra Blockchain since one year.
What is Terrand?
A unique and the only decentralized oracle smart contract available on Terra Luna to get distributed randomness beacon. Verifiable, unpredictable, and unbiased random numbers as a service.
Why Terrand ?
This oracle brings Drand randomness to Terra Luna! This will be interesting to see a community-building project around this great oracle. - @0xantman
The ability to generate randomness is the foundation of many security protocols. - @ eprint.iacr.org
Generating public randomness is a common problem, supporting the desire to build a dedicated service that can be more efficient and (potentially) offer higher security against manipulation. Many interesting applications require random values that cannot be predicted before being generated but are made public after generation.
The drand project aims to create a random number generator that has all five of these properties.
Unpredictable: you can’t predict the next number to come out of the generator.
Publicly-verifiable: anyone can verify that a random number is a legitimately random number.
Bias-resistant: you can’t lead the generator one way or another.
Decentralized: a set of independent parties produces random numbers.
Always available: the system must always be able to provide random numbers.
We accelerated the developments of new Dapps on Terra for 1 year! While Chainlink, Band protocol, or other oracles are not available on Terra.
Glow, MintDAO, RandomEarth, Terrafloki, Terra Vegas, Deviants Art… And much more…
They are all using or planning to use Terrand for randomizing their contract securing millions of dollars in protocols FOR FREE.
Our team needs funds to continue contributing, we need funds to hire and grow. I think a grant is well deserved…
Oracles, the most expensive software on the planet?
I think it would be good to check Top Oracle Coins by Market Capitalization - CoinGecko and see the market cap of oracles.
We can easily say Billions of dollars protocols will run in the future with the need of oracles for proper functioning. Saying that and according to the number of Dapps growing each day on Terra Blockchain with Terrand being an essential part of the proper functioning. I think we can evaluate our contribution between 1.5 to 5 million dollars.
Our team is one of the first contributors to Terra blockchain and we never deserved any attention or recognition we need funds to grow we have plans to build public goods like Encrypt data and Decrypt data on-chain in a future period allowing temporal privacy on Terra.
Address recipient of the Grants