Experimental Ethereum RNG based on PoW
Based on an idea by Vitalik Buterin
For testing purposes only, right now.
Basic idea:
Anyone can submit a seed within a short timeframe. After the time frame is over, the random number is generated by performing repeated hashes on each seed.
The hashed seeds are then combined into one number. The idea is that there is not enough time within the submission phase for any party to calculate the final hash value of all of the seeds, thus they cannot predict or influence the final random number.
In order to verify the computationally intensive process, we require a security deposit and allow challengers to demonstrate the incorectnes of a hash via an interactive binary search process.
More details to come.