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 First machine learning method capable of accurate extrapolation
13.07.2018 | Institute of Science and Technology Austria

nachricht A step closer to single-atom data storage
13.07.2018 | Ecole Polytechnique Fédérale de Lausanne

All articles from Information Technology >>>

The most recent press releases about innovation >>>

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

Im Focus: First evidence on the source of extragalactic particles

For the first time ever, scientists have determined the cosmic origin of highest-energy neutrinos. A research group led by IceCube scientist Elisa Resconi, spokesperson of the Collaborative Research Center SFB1258 at the Technical University of Munich (TUM), provides an important piece of evidence that the particles detected by the IceCube neutrino telescope at the South Pole originate from a galaxy four billion light-years away from Earth.

To rule out other origins with certainty, the team led by neutrino physicist Elisa Resconi from the Technical University of Munich and multi-wavelength...

Im Focus: Magnetic vortices: Two independent magnetic skyrmion phases discovered in a single material

For the first time a team of researchers have discovered two different phases of magnetic skyrmions in a single material. Physicists of the Technical Universities of Munich and Dresden and the University of Cologne can now better study and understand the properties of these magnetic structures, which are important for both basic research and applications.

Whirlpools are an everyday experience in a bath tub: When the water is drained a circular vortex is formed. Typically, such whirls are rather stable. Similar...

Im Focus: Breaking the bond: To take part or not?

Physicists working with Roland Wester at the University of Innsbruck have investigated if and how chemical reactions can be influenced by targeted vibrational excitation of the reactants. They were able to demonstrate that excitation with a laser beam does not affect the efficiency of a chemical exchange reaction and that the excited molecular group acts only as a spectator in the reaction.

A frequently used reaction in organic chemistry is nucleophilic substitution. It plays, for example, an important role in in the synthesis of new chemical...

Im Focus: New 2D Spectroscopy Methods

Optical spectroscopy allows investigating the energy structure and dynamic properties of complex quantum systems. Researchers from the University of Würzburg present two new approaches of coherent two-dimensional spectroscopy.

"Put an excitation into the system and observe how it evolves." According to physicist Professor Tobias Brixner, this is the credo of optical spectroscopy....

Im Focus: Chemical reactions in the light of ultrashort X-ray pulses from free-electron lasers

Ultra-short, high-intensity X-ray flashes open the door to the foundations of chemical reactions. Free-electron lasers generate these kinds of pulses, but there is a catch: the pulses vary in duration and energy. An international research team has now presented a solution: Using a ring of 16 detectors and a circularly polarized laser beam, they can determine both factors with attosecond accuracy.

Free-electron lasers (FELs) generate extremely short and intense X-ray flashes. Researchers can use these flashes to resolve structures with diameters on the...

All Focus news of the innovation-report >>>

Anzeige

Anzeige

VideoLinks
Industry & Economy
Event News

Leading experts in Diabetes, Metabolism and Biomedical Engineering discuss Precision Medicine

13.07.2018 | Event News

Conference on Laser Polishing – LaP: Fine Tuning for Surfaces

12.07.2018 | Event News

11th European Wood-based Panel Symposium 2018: Meeting point for the wood-based materials industry

03.07.2018 | Event News

 
Latest News

Subaru Telescope helps pinpoint origin of ultra-high energy neutrino

16.07.2018 | Physics and Astronomy

Barium ruthenate: A high-yield, easy-to-handle perovskite catalyst for the oxidation of sulfides

16.07.2018 | Life Sciences

New research calculates capacity of North American forests to sequester carbon

16.07.2018 | Earth Sciences

VideoLinks
Science & Research
Overview of more VideoLinks >>>