Re: [GNUnet-developers] GSOC Project proposal GNUnet auction

[Markus Teich]

Sourya Kakarla wrote:
> I have a few doubts regarding the overall project. Is there any standard for
> the implementation of "smart contracts"? I searched to find if GNU Taler had
> any smart contract specifications but couldn't find anything.

Heyho Sourya,

I am not aware of any relevant standard. In principle the smart contract in our
case would just be a JSON document. Each participant of an auction can create
his own version. In public outcome auctions they would all look the same, with
private outcome they differ according to the respective outcome. The content of
this smart contract would be all cryptographic material from the protocol
transcript so that a third party without any further knowledge can follow the
computation and verify the correctness of its outcome.

> I assume that if implemented, "GNU auction" will potentially used by
> businesses but not really by  individuals as it doesn't support English
> auction which is more commonly used for selling (e.g. ebay). Is that correct?

I don't see a problem here from the bidder's perspective. After all the privacy
properties are beneficial for bidders. The problem rather might be to convince
sellers to use the system as they could benefit (optimize their selling
strategy, targeted advertising on interested bidders, …) from the information
which libbrandt does not reveal. GNUnet auction probably won't become a
competitor for ebay soon, but there is still a more direct target audience where
privacy is demanded by bidders like selling antique stuff, art or open
competitive bidding[0]. Also Brandt mentioned that the protocol could be used to
emulate increasing price auctions.

--Markus


0: https://en.wikipedia.org/wiki/Construction_bidding