Generating Randomness In Blockchain: Verifiable Random Functionby@ricc
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Generating Randomness In Blockchain: Verifiable Random Function

December 13th 2020
8 min
by @ricc 6,267 reads
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Bitcoin's problem with the long mining process (10 minutes per block on average) is more complex than it may seem. Because of that, fewer transactions can be processed in a specific time, because it takes too much time to mine and finalize the block. The elegant solution is a random draw, which happens in a decentralized manner. This application of a cryptographic lottery is called Verifiable Random Function. The VRF functions are similar to a lottery and are used to choose a block leaders.

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