Compare commits

...

4 Commits

Author SHA1 Message Date
Nathan Woodburn
532cb0f0e5 docs: update home 2024-02-09 04:14:24 +00:00
Nathan Woodburn
634c6ffc74 docs: update home 2024-02-09 04:14:14 +00:00
Nathan Woodburn
c43dbb52d4 docs: create auction 2024-02-09 04:13:49 +00:00
Nathan Woodburn
9cf300cf18 docs: upload vickrey_auction.jpg 2024-02-09 04:13:06 +00:00
3 changed files with 41 additions and 2 deletions

39
auction.md Normal file
View File

@ -0,0 +1,39 @@
---
title: Auction
description:
published: 1
date: 2024-02-09T04:13:43.915Z
tags:
editor: markdown
dateCreated: 2024-02-09T04:13:43.915Z
---
# Auction
To prevent price sniping, Handshake uses a blind second-price auction called a Vickrey Auction. Users can buy and register top-level domains (TLDs) with Handshake coins (HNS).
In a Vickrey Auction, a participant is only aware of their own bid. The bids are revealed at the end of the auction when a winner is chosen. The winner pays the second highest bid instead of his or her own.
- Names were released weekly during a pre-determined 52 week schedule (until Feb 2021)
- Blind bids can be placed any time after a name is released.
- Bidding is open to everyone for 5 days beforethe reveal period.
- Bidders have 10 days to reveal their bid price.
- A winner is assigned the name and pays the second highest bid at the end of the reveal period.
- The winning bid is burned and permanently removed from circulation.
- Losing bids are returned.
- Names are renewed every 2 years by paying standard network fee.
For more information, read the [Handshake paper](https://hsd-dev.org/files/handshake.txt).
---
![vickrey_auction.jpg](/vickrey_auction.jpg)
Vickrey Auction's scheme and example

View File

@ -2,7 +2,7 @@
title: Home title: Home
description: Handypedia the wiki for everything Handshake related description: Handypedia the wiki for everything Handshake related
published: 1 published: 1
date: 2024-02-09T03:14:09.543Z date: 2024-02-09T04:14:20.823Z
tags: tags:
editor: markdown editor: markdown
dateCreated: 2024-02-09T02:55:52.074Z dateCreated: 2024-02-09T02:55:52.074Z
@ -15,7 +15,7 @@ for all your Handshake information needs.
This wiki is maintained by the Handshake community. This wiki is maintained by the Handshake community.
## Handshake ## Handshake
![Handshake Logo](/hnsw.png =64x64){: .float-left} ![Handshake Logo](/hnsw.png =64x64){: .align-left}
[Handshake](/en/handshake) is a decentralized DNS root zone that eliminates the need to trust potential bad actors like ICANN and certificate authorities. Handshake uses peer-to-peer technology to operate with no central authority: domain ownership and transfers are carried out collectively by the network. [Handshake](/en/handshake) is a decentralized DNS root zone that eliminates the need to trust potential bad actors like ICANN and certificate authorities. Handshake uses peer-to-peer technology to operate with no central authority: domain ownership and transfers are carried out collectively by the network.

BIN
vickrey_auction.jpg Normal file

Binary file not shown.

After

Width:  |  Height:  |  Size: 29 KiB