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A blind auction is where users can bid without others knowing their bid amounts. This is achieved with hashing (the value they want to bid, whether or not its a fake bid, and a secret) and sending that onto the chain. This hashed bid is later revealed, and if the deposits are greater than the value, and its a real bid, its accepted as a valid bid.
After the reveal period ends, the highest bidder wins.
A blind auction is where users can bid without others knowing their bid amounts. This is achieved with hashing (the value they want to bid, whether or not its a fake bid, and a secret) and sending that onto the chain. This hashed bid is later revealed, and if the deposits are greater than the value, and its a real bid, its accepted as a valid bid.
After the reveal period ends, the highest bidder wins.
solidity implementation
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