It's a hard-to-break digital string that commits proof that the person knows something in a file encoded by that string. When the known file becomes public, the fact that the file connects to the string in a one-way hash algorithm proves that the file was known at the time it was said.
To date, nobody has produced a file that hashes to that string. Maybe we need to take our Bitcoin miners offline and get them reverse-searching some of these public precommitments instead.
"I know something now, and anyone will be able to prove that I knew it at this time as soon as someone else reveals the same thing I know. That means that when it is revealed it will be provable not to be recently faked."
Also what is precommittment
It's a hard-to-break digital string that commits proof that the person knows something in a file encoded by that string. When the known file becomes public, the fact that the file connects to the string in a one-way hash algorithm proves that the file was known at the time it was said.
To date, nobody has produced a file that hashes to that string. Maybe we need to take our Bitcoin miners offline and get them reverse-searching some of these public precommitments instead.
"I know something now, and anyone will be able to prove that I knew it at this time as soon as someone else reveals the same thing I know. That means that when it is revealed it will be provable not to be recently faked."
Yeah really.