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arXiv · 1402.3698

Note on fair coin toss via Bitcoin

Adam Back·Iddo Bentov
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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.

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Adam Back, Iddo Bentov. 2014-02-15. Note on fair coin toss via Bitcoin. https://arxiv.org/abs/1402.3698

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