Compared with other auction protocols, bidders can submit their bids asynchronously like the distributed auctions, and all the bids are kept secret before .

The paper has designed Taobao English auction mechanism and open-cry auction mechanism.

Particularly,this paper indicates that the second price sealed bid auction enjoys a wide range of application in the auction of the public resources with common value characteristics;the Dutch auction is usually more suitable than the English auction in the auction on the non-performing assets.