Competitive Decentralized Randomness Beacon Protocols

Abstract

A distributed and reliable source of randomness is always a critical element in cryptography, both in the construction and application of cryptographic primitives. Modern cryptography such as blockchain, cryptocurrencies, decentralized finance is heavily dependent on a trusted randomness source. In particular, Decentralized Randomness Beacon (DRB) protocols can be a reliable source of randomness. A DRB protocol generates a continuous stream of publicly verifiable random values. Almost all the available DRB protocols are collaborative in nature where participants of a DRB protocol collaborate their local entropy to generate global randomness.