A Survey of E-bidding System using Blockchain

With the increasing use of the internet, the e-auction system is becoming popular. E-Auction is an efficient e-commerce system that allows buyers and sellers to make a transaction through online platforms. Blockchain technology and smart contracts are being used in an e-auction to make it secure, transparent, and decentralized In this paper, we use different bidding techniques that use cryptography to ensure security and to keep private information confidential of any participants in the auction. Furthermore, we have explained the concept of public bidding and sealed bidding which will be used in E-auction, we have explained UAE that is used to keep stakeholders identity autonomous, the paper also explains the hash functions which provides the advantage of encryption and decentralization Thus blockchain and smart contracts make it more efficient and secure compared to other traditional and e-auction systems.