Can a truly trustless Random Number Generation can be created by a group of participants in a decentralized manner!
Here is the proposed algorithm:
- Everyone picks a secret number from 0 to M-1
- Everyone appends a load of random gunk to their number and hashes the result with a secure hash
- Everyone commits their hash to a smart contract.
- When all participants have committed the hash, everyone submits their secret number, plus the random gunk they appended to it.
- Smart Contract verifies that the secret numbers and hashes match.
- Add all the secret numbers together modulo M, then adds 1 to get the final result.
What are your opinion about such an algorithm will work or not on a blockchain!
References:
https://stackoverflow.com/questions/224058/distributed-random-number-generation#answer-224067The post has a date prior to the birth of bitcoin. So, in present world of blockchain with smart-contracts, can such an algorithm work successfully?
What are the possible causes that can make it not work!
Any views from the community is welcome!
