Commit-Reveal scheme

Commit-Reveal scheme is a method used to secure sensitive information while ensuring fairness and transparency. In this scheme, a participant first commits to a piece of data by creating a cryptographic 'commitment' that is publicly shared. The actual data remains hidden. Once all participants have committed, the 'reveal' phase occurs, where participants share the original data. The commitment is then verified against the revealed data to ensure consistency. Commit-Reveal is commonly used in Web3 applications to achieve secure, tamper-proof voting, lottery draws, and other processes that require preserving privacy until a specific point, enhancing trust and verifiability.