So how do we create a world where we can store our secrets in a trusted and then reveal them when required? Let’s say I predict the outcome of an election, but I don’t want to reveal my prediction until after the election. Well, I could store a commitment to my prediction, and then at some time in the future, I could reveal it to you, and you can check against the commitment I have made. Anyone who views my commitment should not be able to see what my prediction is.

This is known as Pedersen Commitment, and where we produce our commitment and then show the message that matches the commitment. In its core form, we can implement a Pedersen Commitment in discrete logs [here]. But blockchain, IoT, Tor, and many other application areas, now use elliptic curve methods, so let’s see if we can make a commitment with them.