Public Randomness refers to a source of unpredictable numerical sequences that is accessible and verifiable by multiple parties. This randomness is typically generated through mechanisms designed to be resistant to manipulation or prediction, often drawing from unpredictable physical phenomena or secure cryptographic protocols. Its availability to all participants in a system is crucial for ensuring fairness and impartiality in decentralized applications, lotteries, and cryptographic processes. It provides a foundation for trust in processes that require an element of chance.
Context
The implementation and assurance of Public Randomness are critical considerations for decentralized applications requiring unpredictable outcomes, such as blockchain-based gaming, prediction markets, and fair distribution mechanisms. Discussions often revolve around the security and verifiability of different randomness generation services. News concerning advancements in verifiable random functions (VRFs) or decentralized oracle networks frequently touches upon the importance of reliable public randomness.
This research significantly reduces the gas cost and proof size for Pietrzak's Verifiable Delay Function on Ethereum, enhancing practical blockchain integration.
This research fundamentally redefines Verifiable Delay Functions, proving their non-existence in the Random Oracle Model, impacting future cryptographic primitive design.
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