Jan 18

Seminar: Denis Verstraeten “Fair Trading in Blockchain” (Jan 19, 2021)

Jan 19, 2021 – 13.00

Speaker: Denis Verstraeten (ULB)

Title: “Fair Trading in Blockchain”
Short abstract: “Blockchains allow to have a decentralized ledger recording all the transactions occurring between parties. They provide a tamper-proof storage featuring public auditability of the data.
By leveraging these characteristics, it is possible to implement an auction protocol relying on smart contracts. Compared to existing schemes, our new generic approach for a first-price auction enables the bidders to stay anonymous while maintaining privacy of the bids. The anonymity is achieved using commitment scheme, public-key encryption and designated identity verifier ring signature, whereas the computation of the winning bid is handled in a zero-knowledge way by a semi-trusted auctioneer.
The scheme is proven to be secure against new security definitions better suited in the context of decentralized auctions. A proof of concept has been implemented using the Ethereum platform and encouraging preliminary results have been computed.”