Riggs: Decentralized Sealed-Bid Auctions

ePrint Report: Riggs: Decentralized Sealed-Bid Auctions

Nirvan Tyagi, Arasu Arun, Cody Freitag, Riad Wahby, Joseph Bonneau, David Mazières

We introduce the first practical protocols for fully decentralized
sealed-bid auctions using timed commitments. Timed commitments
ensure that the auction is finalized fairly even if all participants drop
out after posting bids or if $n-1$ bidders collude to try to learn the
$n^{th}$ bidder’s bid value. Our protocols rely on a novel non-malleable
timed commitment scheme which efficiently supports range proofs
to …

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