> In practice this means that if you trust there are never more than the threshold t malicious nodes on the network you're relying on, you are guaranteed that you timelocked data cannot be decrypted earlier than what you intended.
So I guess this just relies on a multi key threshold scheme where t nodes have to combine their keys to decrypt the data. And I assume the blockchain tries to punish participants who refuse to take part in the decryption?
If so then this seems very tricky in terms of risk because if you have more than t malicious nodes they can secretely collude outside the chain to decrypt the data before the specified time and you'd never know in contrast to the usual attacks on blockchains which are very obvious. So the chain in that regard does not and can not add to keep the actors honest in that regard.
Would love to see the DEF CON presentation but I couldn't find a video for it. Didn't even spot it in the DEF CON timetable.