In this paper, we developed an online auction system based on Ethereum smart contracts. A smart contract is executable code that runs on top of the blockchain to facilitate, execute and enforce an agreement between untrusted parties without the involvement of a trusted third party. A decentralised auction guarantees greater transparency and avoids cheating auctioneers. Since in Ethereum computation is expensive as transactions are executed and veried by all the nodes on Ethereum network, we analysed our implementation in terms of cost and time efficiency, obtaining promising results.
Designing smart-contract based auctions / C. Braghin, S. Cimato, E. Damiani, M. Baronchelli (ADVANCES IN INTELLIGENT SYSTEMS AND COMPUTING). - In: Security with Intelligent Computing and Big-data Services / [a cura di] C.-N. Yang, S.-L. Peng, L.C. Jain. - [s.l] : Springer, 2019. - ISBN 9783030169459. - pp. 54-64 (( Intervento presentato al 2. convegno Security with Intelligent Computing and Big-data Services tenutosi a Guilin nel 2018.
Designing smart-contract based auctions
C. Braghin;S. Cimato;E. Damiani;
2019
Abstract
In this paper, we developed an online auction system based on Ethereum smart contracts. A smart contract is executable code that runs on top of the blockchain to facilitate, execute and enforce an agreement between untrusted parties without the involvement of a trusted third party. A decentralised auction guarantees greater transparency and avoids cheating auctioneers. Since in Ethereum computation is expensive as transactions are executed and veried by all the nodes on Ethereum network, we analysed our implementation in terms of cost and time efficiency, obtaining promising results.File | Dimensione | Formato | |
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