Designing Smart-Contract Based Auctions

Chiara Braghin, Stelvio Cimato, Ernesto Damiani, Michael Baronchelli

Research output: Chapter in Book/Report/Conference proceedingConference contributionpeer-review

24 Scopus citations

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 verified by all the nodes on Ethereum network, we analysed our implementation in terms of cost and time efficiency, obtaining promising results.

Original languageBritish English
Title of host publicationSecurity with Intelligent Computing and Big-data Services - Proceedings of the 2nd International Conference on Security with Intelligent Computing and Big Data Services SICBS-2018
EditorsLakhmi C. Jain, Lakhmi C. Jain, Lakhmi C. Jain, Ching-Nung Yang, Sheng-Lung Peng, Lakhmi C. Jain
PublisherSpringer Verlag
Pages54-64
Number of pages11
ISBN (Print)9783030169459
DOIs
StatePublished - 2020
Event2nd International Conference on Security with Intelligent Computing and Big-data Services, SICBS 2018 - Guilin, China
Duration: 14 Dec 201816 Dec 2018

Publication series

NameAdvances in Intelligent Systems and Computing
Volume895
ISSN (Print)2194-5357
ISSN (Electronic)2194-5365

Conference

Conference2nd International Conference on Security with Intelligent Computing and Big-data Services, SICBS 2018
Country/TerritoryChina
CityGuilin
Period14/12/1816/12/18

Keywords

  • Auction
  • Blockchain
  • Smart contract

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