Commit-reveal protocols are cryptographic mechanisms used to ensure fairness and prevent front-running or manipulation in decentralized systems. In the first phase, a participant commits to a secret value by publishing a cryptographic hash of that value, without disclosing the value itself. In the second phase, the participant reveals the original secret, which can then be verified against the previously published hash. This two-step process ensures that all participants make their decisions independently before any information is revealed, promoting integrity.
Context
These protocols are vital for various decentralized applications requiring verifiable, unbiased outcomes, such as decentralized exchanges, auctions, and random number generation. News in the blockchain security and protocol design space often references the application and security improvements of commit-reveal schemes. Ongoing research focuses on optimizing their efficiency and expanding their use cases across different blockchain architectures to enhance fairness and resistance to collusion.
This new Cornucopia framework combines Verifiable Delay Functions with accumulators to create a scalable, bias-resistant randomness beacon secure with only one honest participant.
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