Forum for Science, Industry and Business

Sponsored by:     3M 
Search our Site:


Last minute auction acquisition

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.


Daniela Hallegger | alfa
Further information:

More articles from Information Technology:

nachricht Fraunhofer FIT joins Facebook's Telecom Infra Project
25.10.2016 | Fraunhofer-Institut für Angewandte Informationstechnik FIT

nachricht Stanford researchers create new special-purpose computer that may someday save us billions
21.10.2016 | Stanford University

All articles from Information Technology >>>

The most recent press releases about innovation >>>

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

Im Focus: Novel light sources made of 2D materials

Physicists from the University of Würzburg have designed a light source that emits photon pairs. Two-photon sources are particularly well suited for tap-proof data encryption. The experiment's key ingredients: a semiconductor crystal and some sticky tape.

So-called monolayers are at the heart of the research activities. These "super materials" (as the prestigious science magazine "Nature" puts it) have been...

Im Focus: Etching Microstructures with Lasers

Ultrafast lasers have introduced new possibilities in engraving ultrafine structures, and scientists are now also investigating how to use them to etch microstructures into thin glass. There are possible applications in analytics (lab on a chip) and especially in electronics and the consumer sector, where great interest has been shown.

This new method was born of a surprising phenomenon: irradiating glass in a particular way with an ultrafast laser has the effect of making the glass up to a...

Im Focus: Light-driven atomic rotations excite magnetic waves

Terahertz excitation of selected crystal vibrations leads to an effective magnetic field that drives coherent spin motion

Controlling functional properties by light is one of the grand goals in modern condensed matter physics and materials science. A new study now demonstrates how...

Im Focus: New 3-D wiring technique brings scalable quantum computers closer to reality

Researchers from the Institute for Quantum Computing (IQC) at the University of Waterloo led the development of a new extensible wiring technique capable of controlling superconducting quantum bits, representing a significant step towards to the realization of a scalable quantum computer.

"The quantum socket is a wiring method that uses three-dimensional wires based on spring-loaded pins to address individual qubits," said Jeremy Béjanin, a PhD...

Im Focus: Scientists develop a semiconductor nanocomposite material that moves in response to light

In a paper in Scientific Reports, a research team at Worcester Polytechnic Institute describes a novel light-activated phenomenon that could become the basis for applications as diverse as microscopic robotic grippers and more efficient solar cells.

A research team at Worcester Polytechnic Institute (WPI) has developed a revolutionary, light-activated semiconductor nanocomposite material that can be used...

All Focus news of the innovation-report >>>



Event News

#IC2S2: When Social Science meets Computer Science - GESIS will host the IC2S2 conference 2017

14.10.2016 | Event News

Agricultural Trade Developments and Potentials in Central Asia and the South Caucasus

14.10.2016 | Event News

World Health Summit – Day Three: A Call to Action

12.10.2016 | Event News

Latest News

Prototype device for measuring graphene-based electromagnetic radiation created

28.10.2016 | Power and Electrical Engineering

Gamma ray camera offers new view on ultra-high energy electrons in plasma

28.10.2016 | Physics and Astronomy

When fat cells change their colour

28.10.2016 | Life Sciences

More VideoLinks >>>