Fair BitCoin Toss

Without Trusting a Third Party using Bit Commitment

Toss a Bitcoin

Alice and Bob decide to flip a coin, but they have no physical coin or they want to do it over the Internet. They can achieve fair coin tossing by following protocol on Bitcoin.

Coin Toss Contract

Practical Consideration

Additional measures have to be taken in case one party decides to abort when he/she finds out he/she loses, by refusing to reveal their secret number. For example, instead of letting winner taking all, we could have the loser take 0.5X bitcoins and thus incentivise him to proceed even though he will lose.

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sCrypt

sCrypt (https://scrypt.io) is a company with a mission to provide integrated on-chain smart contracting solutions on Bitcoin Satoshi Vision