Open AccessAUCTIONAIRE – A Blockchain Based Online Auction System
Author(s) -
Sumeet Shelar
Publication year - 2022
Publication title -
international journal for research in applied science and engineering technology
Language(s) - English
Resource type - Journals
ISSN - 2321-9653
DOI - 10.22214/ijraset.2022.41039
Subject(s) - blockchain , common value auction , computer science , payment , computer security , reverse auction , payment system , profit (economics) , mode (computer interface) , forward auction , business , auction theory , world wide web , microeconomics , economics , operating system
Today, the growth of electronic communication is increasing rapidly and with that, several applications are going online. This helped many businesses in gaining profit in their respective sectors. One of the various applications of electronic communication which is getting highly appreciated these days by many users is E-Auction System. E-Auction System is an effective E-Commerce system that allows bidders and sellers to interact through an online platform. This online mode has reduced many limitations of traditional auction i.e. geographical location, timing and traveling, a limited number of people, etc. In this auction system we have introduced Blockchain and smart contract as a revolutionary technology which has gain the interest of many different industries. Payment gateways are also highly secured. These technologies provide best security and make the system fully secure. Our model aim is to provide each and everyone to host their own auctions or take part in the auction from anywhere in the world. With the variation in the technology, we also have to change our self accordingly. Keywords: E-Auction, Blockchain, Smart contracts, Decentralized, MATIC, Metamask