“E-AUCTION WEBSITE USING BLOCKCHAIN TECHNOLOGY”

Abstract: The emerging e-commerce systems open the way for several applications to be viable from off-line to online system. E-Auction is an effective ecommerce system that allows bidders and sellers to interact through online platforms. However, providing completely secure e-auction system that satisfies security conditions for all players in these systems requires very complex efforts in the traditional design. Blockchain and smart contract, as a revolutionary technology, has attracted the interest of different industries including the designing of e-auction systems. In this paper, our aim is to provide a prototype of secure blockchain e-auction system that lowering the uncertainties about identities of long-distance complex trade in an e-auction system that can be implemented in UAE services, especially, UAE Auction. In our implementation, we use smart contract in order to guarantee the necessary security requirements. The smart contract contains important information about the transaction details such as auctioneer data, the start time and the deadline of auction, the current winner data, and the current highest price.

Keywords: Bidding, Blockchain, Security, Auction