Block Auction: A General Blockchain Protocol for Privacy-Preserving and Verifiable Periodic Double Auctions

Research output: Chapter in Book/Report/Conference proceedingConference Contribution (Conference Proceeding)

12 Citations (Scopus)
179 Downloads (Pure)

Abstract

We use blockchain technology to tackle the problem of securing periodic double auctions for financial ‘dark pool’ trading, such that the privacy of pre-trade order information is preserved and the behaviour of the auction operator can be verified. A smart contract is used as a public audit trail without revealing the order intention of traders. Auction matching is performed off-chain, allowing alternative auction mechanisms to be used without altering the smart contract code. A full system implementation is deployed on the Harmony blockchain, and comparative evaluation of the protocol demonstrates some clear advantages over the closest published alternative.
Original languageEnglish
Title of host publication2021 IEEE International Conference on Blockchain (Blockchain)
EditorsYang Xiang, Ziyuan Wang, Honggang Wang, Valtteri Niemi
PublisherIEEE Computer Society
Pages513-520
Number of pages8
ISBN (Electronic)978-1-6654-1760-0
ISBN (Print)978-1-6654-1761-7
DOIs
Publication statusPublished - 24 Jan 2022
EventThe International Symposium on Fintech and Blockchain Systems - Hybrid, Melbourne, Australia
Duration: 6 Dec 20218 Dec 2021
http://nsclab.org/blockchain2021/index.html

Publication series

NameProceedings - 2021 IEEE International Conference on Blockchain, Blockchain 2021

Conference

ConferenceThe International Symposium on Fintech and Blockchain Systems
Abbreviated titleIEEE Blockchain-2021
Country/TerritoryAustralia
CityMelbourne
Period6/12/218/12/21
Internet address

Bibliographical note

Funding Information:
This work was supported by Innovate UK / ESRC funded Knowledge Transfer Partnership between University of Bristol and Claritum Limited (KTP 11952). John Cartlidge is sponsored by Refinitiv.

Publisher Copyright:
© 2021 IEEE.

Keywords

  • blockchain
  • double auction,
  • privacy
  • smart contract

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  • Claritum KTP - 11952

    Cartlidge, J. P. (Principal Investigator)

    22/08/1931/01/23

    Project: Research

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