A sequential time lock is a cryptographic mechanism that requires a specific, computationally intensive process to be completed in a predetermined sequence before a secret can be revealed. This construction ensures that the secret remains hidden until a certain amount of time has elapsed, regardless of parallel computing power. It enforces a minimum time delay for accessing information. This prevents premature access to sensitive data.
Context
Sequential time locks are a topic of interest in news related to fair protocol design, decentralized lotteries, and preventing front-running in blockchain transactions. Discussions often highlight their utility in creating credible commitment schemes and ensuring that outcomes are not manipulable by participants with superior computational resources. The development of verifiable delay functions is a related area aiming to implement robust sequential time lock mechanisms.
Cryptanalysis exposes a critical flaw in algebraic Verifiable Delay Functions, proving their fixed time delay can be bypassed with parallel computation, requiring new primitives for secure public randomness.
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