Computer-implemented systems and methods for performing computational tasks across a group operating in a trust-less or dealer-free manner

Abstract

A method is presented for secure determination of a solution (S) to a computational task by a pooled resource or group having a plurality of participants (P), the group operating in a trust-less, or dealer-free, system or manner. Access to a resource or reward is offered in exchange for the solution. Individuals generate their own key pair and use their public key to establish with the group an initial shared public key that they can all use to find a solution to the task. The resource or reward can be secured by the verified shared public key. Because the private keys of each participant were used in the determination of the initial shared public key that lead to the solution then participants must then collaborate to unlock the resource or reward because the corresponding shared private key can only be generated by all participants or a pre-agreed threshold of participants.