Verifiable Delay Functions (VDFs) are cryptographic primitives that require a specified sequential computation time to produce a unique output, yet allow for quick and public verification of that output. They are designed to be inherently slow to compute, even with parallel processing, ensuring a minimum time delay before the result is known. This property makes them useful for applications requiring a publicly verifiable delay, such as random beacon generation or fair leader election. VDFs are a newer area in cryptography.
Context
Verifiable Delay Functions are gaining attention in blockchain protocols for their potential to enhance security and fairness in decentralized systems, particularly in consensus mechanisms and random number generation. News often discusses their application in protocols seeking to prevent front-running or to ensure unbiased outcomes in critical network operations. Research focuses on optimizing their efficiency and security against various attacks. These functions represent a promising tool for advancing the robustness of future blockchain architectures.
This research significantly reduces the gas cost and proof size for Pietrzak's Verifiable Delay Function on Ethereum, enhancing practical blockchain integration.
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