Stochastic computing begins with a counterintuitive premise—that you should first convert the numbers you need to process into long streams of random binary digits where the probability of finding a 1 in any given position equals the value you’re encoding. ieee 
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More generally speaking, stochastic computing represents numbers as streams of random bits and reconstructs numbers by calculating frequencies. The computations are performed on the streams and translate complicated operations on p and q into simple operations on their stream representations. (Because of the method of reconstruction, devices that perform these operations are sometimes called stochastic averaging processors.) In modern terms, stochastic computing can be viewed as an interpretation of calculations in probabilistic terms, which are then evaluated with a Gibbs sampler. It can also be interpreted as a hybrid analog/digital computer.
* A New Way to Compute. post
* von Neumann, J. (1963). "Probabilistic logics and the synthesis of reliable organisms from unreliable components". pdf The Collected Works of John von Neumann. Macmillan. ISBN 978-0-393-05169-8.
**Note**: Wrong ISBN