AUCTION VERIFICATION

An auction verification subsystem provides verification, without revealing actual bid values, that bid values remained sealed prior to a closing time for the auction and that an announced winning bidder for the auction provided a highest bid. The verification subsystem receives encrypted bids from bidders and generates commitment data based on the bids and provides the commitment data to each of the bidders. In response to receiving the commitment data, the bidders provide decryption keys for the encrypted bids. In turn, the bids are decrypted and an auction is performed using the decrypted bids. The results of the auction can be verified based on bid representations that do not reveal the actual values of bids, thereby maintaining the secrecy of bids. Providing access to an exchange between bidders and the verification subsystem facilitates verification that the auction is performed as a sealed bid auction.