Secure Online E-Auction System using Blockchain Technology

E-Auction (secure online auction) is a powerful ecommerce solution that connects bidders and sellers via online platforms. However, building a properly secured electronic online auction platform that meets the trust and safety requirements for all parties in these system necessitates extensive design efforts. Blockchain and smart contracts have sparked the interest of a variety of businesses, including the development of electronic online auction platform, as a new technology. Any online system’s goal is linked to two points: customer fulfilment and business objectives. Users benefit from privacy and trade fairness in an online secured auction system. There is limited market auctions available data depending on the sensitivity of such an online auctioneers willing to reveal that fraudulent activities.