Fairness mechanisms are design elements within blockchain protocols or decentralized applications intended to ensure equitable treatment and prevent manipulation among participants. These mechanisms might include fair launch distributions, anti-front-running measures, or unbiased random number generation for various operations. Their purpose is to mitigate advantages gained through technical superiority or privileged information. Such designs promote trust and broad participation in decentralized systems.
Context
The state of fairness mechanisms in decentralized finance and other blockchain applications is a constant area of research and implementation. News reports frequently discuss new techniques to combat issues like miner extractable value or unequal access to liquidity. A key debate involves balancing absolute fairness with practical considerations for network efficiency and scalability.
This work introduces an efficient distributed randomness beacon using threshold cryptography, enabling verifiable, unbiased randomness for decentralized systems.
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