A decentralized application (DApp) implementing a Vickrey-Clarke-Groves (VCG) auction with a commit-reveal protocol to ensure fair and private bidding.
Traditional auctions are prone to manipulation, bid sniping, and privacy issues. decentBid solves these problems by leveraging smart contracts and cryptographic commitments to create a transparent, secure, and fair auction environment.
- 💡 VCG Auction – Truthful bidding is incentivized via the Vickrey-Clarke-Groves mechanism.
- 🔐 Commit-Reveal – Bid privacy is ensured through a cryptographic commit-reveal scheme.
- 🌐 DApp – Built using React, Node.js, and Hardhat for full-stack decentralized architecture.