|
||
---|---|---|
.. | ||
build | ||
src | ||
.env | ||
.gitignore | ||
leo.lock | ||
program.json | ||
README.md | ||
run.sh |
A first-price sealed-bid auction in Leo.
Summary
A first-price sealed-bid auction (or blind auction) is a type of auction in which each participant submits a bid without knowing the bids of the other participants. The bidder with the highest bid wins the auction.
In this model, there are two parties: the auctioneer and the bidders.
- Bidder: A participant in the auction.
- Auctioneer: The party responsible for conducting the auction.
We make the following assumptions about the auction:
- The auctioneer is honest. That is, the auctioneer will resolve all bids in the order they are received. The auctioneer will not tamper with the bids.
- There is no limit to the number of bids.
- The auctioneer knows the identity of all bidders, but bidders do not necessarily know the identity of other bidders.
Under this model, we require that:
- Bidders do not learn any information about the value of other bids.
Auction Flow
The auction is conducted in a series of stages.
- Bidding: In the bidding stage, bidders submit bids to the auctioneer. They do so by invoking the
place_bid
function. - Resolution: In the resolution stage, the auctioneer resolves the bids in the order they were received. The auctioneer does so by invoking the
resolve
function. The resolution process produces a single winning bid. - Finishing: In this stage, the auctioneer finishes the auction by invoking the
finish
function. This function returns the winning bid to the bidder, which the bidder can then use to claim the item.
Language Features and Concepts
record
declarationsassert_eq
- record ownership
Running the Program
Leo provides users with a command line interface for compiling and running Leo programs.
Configuring Accounts
The .env
file contains a private key.
This is the account that will be used to sign transactions and is checked for record ownership.
When executing programs as different parties, be sure to set the PRIVATE_KEY
field in .env
to the appropriate values.
See ./run.sh
for an example of how to run the program as different parties.
The Aleo SDK provides an interface for generating new accounts. To generate a new account, navigate to aleo.tools.
Providing inputs via the command line.
leo run <function_name> <input_1> <input_2> ...
See ./run.sh
for an example.