A commit-reveal protocol is a cryptographic scheme where a participant first commits to a value without revealing it, then later discloses the value with proof of prior commitment. The commitment phase creates a binding, verifiable record of intent, while the reveal phase verifies the disclosed value matches the committed one. This two-step process prevents manipulation and ensures fairness in digital interactions.
Context
In cryptocurrency and blockchain applications, commit-reveal protocols are essential for fair participation in activities like decentralized auctions, voting systems, and certain secure multi-party computations. They prevent front-running or other forms of unfair advantage by ensuring all participants commit their actions before anyone can see others’ choices. Ongoing advancements focus on optimizing these protocols for efficiency and privacy in smart contract environments.
Commit-Reveal Squared uses randomized reveal order and a hybrid architecture to cryptographically secure decentralized randomness, eliminating last-revealer bias.
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