Note on fair coin toss via Bitcoin
Cryptography and Security
2014-02-18 v1
Abstract
In this short note we show that the Bitcoin network can allow remote parties to gamble with their bitcoins by tossing a fair or biased coin, with no need for a trusted party, and without the possibility of extortion by dishonest parties who try to abort. The superfluousness of having a trusted party implies that there is no house edge, as is the case with centralized services that are supposed to generate a profit.
Keywords
Cite
@article{arxiv.1402.3698,
title = {Note on fair coin toss via Bitcoin},
author = {Adam Back and Iddo Bentov},
journal= {arXiv preprint arXiv:1402.3698},
year = {2014}
}
Comments
See also https://bitcointalk.org/index.php?topic=277048.0