FPSA

The only way to conduct auction on Ethereum is to use commit-reveal method. This results in a liveness problem where the users can choose not to reveal and leave the system confused. Either there can be cut-off time period for revealing but it becomes tricky when conducting second-prize auctions. Using FHE, the two-step process can be merged into one by committing a value as an encrypted bid. We have written a solidity contract to facilitate it.

Using Fhenix's FHE library, took bids from users in encrypted form. The contract can compare encrypted bids and declare the bid winner - ideal for sealed bid first price auctions. This can easily be scaled to second-prize auctions and so on.

some potential high-stakes use-cases may include on-chain PBS (proposer-builder separation)