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Coin tossing is a basic cryptographic task that allows two distrustful parties to obtain an unbiased random bit in a way that neither party can bias the output by deviating from the protocol or halting the execution. Cleve [STOC’86] showed that in any r round coin tossing protocol one of the parties can bias the output by Ω(1/r) through a “fail-stop” attack; namely, they simply execute the protocol honestly and halt at some chosen point. In addition, relying on an earlier work of Blum [COMPCON’82], Cleve presented an r-round protocol based on one-way functions that was resilient to bias at most \(O(1/\sqrt r)\). Cleve’s work left open whether ”‘optimally-fair’” coin tossing (i.e. achieving bias O(1/r) in r rounds) is possible. Recently Moran, Naor, and Segev [TCC’09] showed how to construct optimally-fair coin tossing based on oblivious transfer, however, it was left open to find the minimal assumptions necessary for optimally-fair coin tossing. The work of Dachman-Soled et al. [TCC’11] took a step toward answering this question by showing that any black-box construction of optimally-fair coin tossing based on a one-way functions with n-bit input and output needs Ω(n/logn) rounds.

Can Optimally-Fair Coin Tossing Be Based on One-Way Functions?