auction.md

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-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).
-
-
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-
-![vickrey_auction.jpg](/vickrey_auction.jpg)
-Vickrey Auction's scheme and example

home.md

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 title: Home
 description: Handypedia the wiki for everything Handshake related 
 published: 1
-date: 2024-02-09T04:14:20.823Z
+date: 2024-02-09T03:14:09.543Z
 tags: 
 editor: markdown
 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.
 
 ## Handshake
-![Handshake Logo](/hnsw.png =64x64){: .align-left}
+![Handshake Logo](/hnsw.png =64x64){: .float-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.