Secure auction systems

Details Secure auction systems Secure auction systems

1996-11-12

2000-04-25

MacDonald, Allen R.

Data processing: financial, business practice, management, or co

Automated electrical financial or business practice or...

Finance

705 64, 705 67, G06F 1900, H04L 900

Patent

active

060555181

ABSTRACT:
The apparatus and method of the present invention provide secure auction service for use in a network having servers and bidding terminals. The auction service makes transactions among servers and bidding terminals subject to a distributed protocol. The distributed protocol distributes submitted bids among the multiple servers, closes a bidding period, verifies validity of monetary value of each submitted bid by utilizing said distributed protocol and determines a winning bidder.

REFERENCES:
patent: 4996711 (1991-02-01), Chaum
patent: 5511121 (1996-04-01), Yacobi
patent: 5625692 (1997-04-01), Herzberg et al.
patent: 5668878 (1997-09-01), Brands
patent: 5708714 (1998-01-01), Lopez et al.
patent: 5749785 (1998-05-01), Rossides

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