Forum for Science, Industry and Business

Sponsored by:     3M 
Search our Site:

 

Last minute auction acquisition

14.04.2008
At an online state securities auction, a transaction worth about 100 million Euro is not a rarity. Computer experts from the Vienna University of Technology (TU) would like to improve considerably the safety and reliability of IT-systems used for such auctions by using time stamps and clocks on smart cards. An idea that won first prize at this year’s FIT-IT Project Contest and which is also assessed as having a market potential of 100 million Euro.

The system used so far for state securities auctions is based on several computers (clients) that send their orders to a central server. Project manager Karl M. Göschka from the Institute of Information Systems of the TU Vienna explains: “A huge number of bids may arrive in the last seconds before the closing of the auction. If the server is overloaded in what is called a “peak load,” and if it crashes, the auction must be repeated, which would lead to considerable losses for the auction operator. Therefore, each participant must be guaranteed the ability to quote his/her bid in the proverbial last seconds – but not a second later.”

Göschka and his team research together with the IRIAN Solutions company ways of guaranteeing a higher availability and sturdiness of the auction system. At the same time, the TU scientists would like to first increase the security through a manipulation-safe time stamp on the client computers. The so-called “smart cards,” which function similarly to an ATM card with an imbedded chip, are attached to the client computer using an integrated clock. The smart card synchronizes the time of the orders with each auction server, and it can guarantee this way that the orders offered on time by the auction participants can also be delivered on the server at a later point in time. As a result, the system is relieved this way because it has more time to play all the orders on the server.

The project entitled “TRADE” (Trustworthy Adaptive Quality Balancing Through Temporal Decoupling) is assessed as having a market potential of 100 million Euro. Finally, the Federal Ministry for Transport, Innovation, and Technology recognized it as the best FIT-IT project proposal submitted in the year 2007 under the “Trust in IT” category.

Göschka and his collaborators anticipate that there will be another three to four years before the product can reach maturity. At that time, the software system, including smart cards, can be marketed through IRIAN Solutions.

Fotodownload: https://www.tuwien.ac.at/index.php?id=7191

Daniela Hallegger | alfa
Further information:
http://www.tuwien.ac.at/aktuelles/news_detail/article/4722/

More articles from Information Technology:

nachricht Cutting edge research for the industries of tomorrow – DFKI and NICT expand cooperation
21.03.2017 | Deutsches Forschungszentrum für Künstliche Intelligenz GmbH, DFKI

nachricht Molecular motor-powered biocomputers
20.03.2017 | Technische Universität Dresden

All articles from Information Technology >>>

The most recent press releases about innovation >>>

Die letzten 5 Focus-News des innovations-reports im Überblick:

Im Focus: Giant Magnetic Fields in the Universe

Astronomers from Bonn and Tautenburg in Thuringia (Germany) used the 100-m radio telescope at Effelsberg to observe several galaxy clusters. At the edges of these large accumulations of dark matter, stellar systems (galaxies), hot gas, and charged particles, they found magnetic fields that are exceptionally ordered over distances of many million light years. This makes them the most extended magnetic fields in the universe known so far.

The results will be published on March 22 in the journal „Astronomy & Astrophysics“.

Galaxy clusters are the largest gravitationally bound structures in the universe. With a typical extent of about 10 million light years, i.e. 100 times the...

Im Focus: Tracing down linear ubiquitination

Researchers at the Goethe University Frankfurt, together with partners from the University of Tübingen in Germany and Queen Mary University as well as Francis Crick Institute from London (UK) have developed a novel technology to decipher the secret ubiquitin code.

Ubiquitin is a small protein that can be linked to other cellular proteins, thereby controlling and modulating their functions. The attachment occurs in many...

Im Focus: Perovskite edges can be tuned for optoelectronic performance

Layered 2D material improves efficiency for solar cells and LEDs

In the eternal search for next generation high-efficiency solar cells and LEDs, scientists at Los Alamos National Laboratory and their partners are creating...

Im Focus: Polymer-coated silicon nanosheets as alternative to graphene: A perfect team for nanoelectronics

Silicon nanosheets are thin, two-dimensional layers with exceptional optoelectronic properties very similar to those of graphene. Albeit, the nanosheets are less stable. Now researchers at the Technical University of Munich (TUM) have, for the first time ever, produced a composite material combining silicon nanosheets and a polymer that is both UV-resistant and easy to process. This brings the scientists a significant step closer to industrial applications like flexible displays and photosensors.

Silicon nanosheets are thin, two-dimensional layers with exceptional optoelectronic properties very similar to those of graphene. Albeit, the nanosheets are...

Im Focus: Researchers Imitate Molecular Crowding in Cells

Enzymes behave differently in a test tube compared with the molecular scrum of a living cell. Chemists from the University of Basel have now been able to simulate these confined natural conditions in artificial vesicles for the first time. As reported in the academic journal Small, the results are offering better insight into the development of nanoreactors and artificial organelles.

Enzymes behave differently in a test tube compared with the molecular scrum of a living cell. Chemists from the University of Basel have now been able to...

All Focus news of the innovation-report >>>

Anzeige

Anzeige

Event News

International Land Use Symposium ILUS 2017: Call for Abstracts and Registration open

20.03.2017 | Event News

CONNECT 2017: International congress on connective tissue

14.03.2017 | Event News

ICTM Conference: Turbine Construction between Big Data and Additive Manufacturing

07.03.2017 | Event News

 
Latest News

When Air is in Short Supply - Shedding light on plant stress reactions when oxygen runs short

23.03.2017 | Life Sciences

Researchers use light to remotely control curvature of plastics

23.03.2017 | Power and Electrical Engineering

Sea ice extent sinks to record lows at both poles

23.03.2017 | Earth Sciences

VideoLinks
B2B-VideoLinks
More VideoLinks >>>