Time-lock encryption is a cryptographic method where encrypted data can only be decrypted after a specified period has elapsed or a certain computational task has been completed. The decryption key is made available only at the predetermined time, ensuring that the information remains inaccessible until then. This technique is useful for delayed information release or timed access control. It enables future-dated information disclosure.
Context
Time-lock encryption holds significant potential for applications in digital assets, such as creating timed release schedules for tokens, enabling future-dated transactions, or securing sensitive information until a specific event occurs. Challenges involve ensuring the tamper-proof nature of the time mechanism and preventing premature decryption. Research focuses on developing robust and verifiable time-lock puzzles and decentralized time-release mechanisms. This technology offers new possibilities for conditional data access.
This protocol introduces a Time-Lapse Cryptography Service using secret sharing to construct a decryption key, guaranteeing conditional information release without a trusted single party.
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