Code Word Commitment

Definition ∞ A Code Word Commitment is a cryptographic primitive allowing a party to commit to a specific value without revealing it immediately, then later disclose the value and prove it is the one originally committed to. This technique ensures data integrity and prevents retroactive alteration of information. It operates by creating a binding cryptographic hash of a secret value, which is later revealed and verified against the initial commitment. This mechanism is foundational for many secure multi-party computations.
Context ∞ In blockchain and decentralized systems, Code Word Commitments are crucial for protocols requiring fairness and preventing front-running or malicious manipulation of transactions. They are particularly relevant in areas like verifiable delay functions, zero-knowledge proofs, and certain auction mechanisms where information must be hidden until a specific reveal phase. News regarding protocol upgrades or new cryptographic applications often references the security guarantees provided by such commitments.