Blockchain as truly random generator with timestamp

Pavol Travnik
1 min readMay 15, 2016

If u will one day make smart contracts, non-arbitrariness is essential especially for choosing arbiters and many more. It will become one of the most important things if you want to have:

  • proven, that some information existed at the specific time,
  • information is random and fully non-arbitrary,
  • information is publicly proven to be true,
  • cheap distribution of consensus based on network which already has system based on very large schema of proof of work.

There is way how to create API for generating truly random numbers chosen at specific event.

Only you have to do is specify terms on which will be the number generated and other people will accept is as a standard. It can be generated on the base of standardised algorithm calculated from Top hash of the Merkle tree in Bitcoin of disputed transaction, which will be absolutely non-arbitrary and very effective tool.

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