How Can Commit-Reveal Be Adapted for Use in a Decentralized Options Auction?

In a decentralized options auction, the commit-reveal scheme can be used to prevent bidders from front-running others' bids. Bidders first commit to their bid amount and option parameters using a hash.

After the commitment period closes, they reveal their bids. This ensures all bids are treated fairly without revealing the bid details prematurely, preventing a malicious actor from adjusting their bid to win at the last moment.