Bid Lock

Bid Lock

Overview

Second-price sealed-bid auctions are intentionally designed to be implemented in highly adversarial settings, but this method is hardly recognized as a viable procedure due to the ineffectiveness of current safety precautions. Our proposed solution aims to revitalize the integrity of these auctions by creating a dependable system that remains unaffected by the presence of dishonest parties through implementing cryptography.

Community Benefit

The development of our system has revitalized the integrity of second-price sealed-bid auctions by creating a dependable system that remains unaffected by the presence of dishonest parties. Moreover, our solution requires only one party to remain honest throughout the auction to preserve a functional and dependable system.

Team Members

Sponsor

Dr. Feng-Hao Liu