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At Devcon4, Justin Drake presented VDFs and their role in PoS in the upcoming network upgrade of Ethereum, Serenity. He described the importance of the Ethereum Foundation in securely generating entropy and distributing hardware in order to properly set up these functions.
Could someone provide an explanation in layman terms on how Verifiable Delay Functions (VDFs) work?
I was casually scrolling on Twitter and I stumbled upon this tweet from Justin Drake:
ELI5: randomness in Ethereum 2.0 using a VDF
100 people, one by one, (re)roll dice placed in a dark room. After the last person lights turn on, revealing a fair random number. The Verifiable Delay Function (VDF) ensures lights aren't turned on early.
Solid stuff.