A Blockchain-Based Auction Method

A technology of blockchain and auctioneer, applied in the field of blockchain to ensure fairness, save fair costs, and ensure mandatory effects

Active Publication Date: 2021-02-12
UNIV OF ELECTRONICS SCI & TECH OF CHINA
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  • Summary
  • Abstract
  • Description
  • Claims
  • Application Information

AI Technical Summary

Problems solved by technology

[0007] However, none of the technical solutions for the appeal is a technical solution for solving the problems of the auction process

Method used

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Examples

Experimental program
Comparison scheme
Effect test

Embodiment 1

[0027]A blockchain-based auction method, including the following links:

[0028] Preparation stage: establish a block chain for auction, the auctioneer releases the auction object information to the block chain, the bidder releases the guarantee through the block chain, and releases the transaction application in the block chain; confirms the auction object and participates in the auction After the bidder, the auctioneer sends a transaction bond to the bidders participating in the auction through the blockchain and releases the public bidding deposit to the blockchain;

[0029] Bidding link: The auctioneer sends a promise of refund for unsuccessful bids to the bidders participating in the auction through the blockchain, and the bidders release the bidding deposit through the blockchain, and conduct the auction by publishing the bidding on the blockchain; after the bidding is completed, if the auctioneer If the successful bidder and the highest bid are not disclosed, the bidder...

Embodiment 2

[0033] A blockchain-based auction method, including the following links:

[0034] Preparation stage: establish a block chain for auction, the auctioneer releases the auction object information to the block chain, the bidder releases the guarantee through the block chain, and releases the transaction application in the block chain; confirms the auction object and participates in the auction After the bidder, the auctioneer sends a transaction bond to the bidders participating in the auction through the blockchain and releases the public bidding deposit to the blockchain;

[0035] Bidding link: The auctioneer sends a promise of refund for unsuccessful bids to the bidders participating in the auction through the blockchain, and the bidders release the bidding deposit through the blockchain, and conduct the auction by publishing the bidding on the blockchain; after the bidding is completed, if the auctioneer If the successful bidder and the highest bid are not disclosed, the bidde...

Embodiment 3

[0047] A blockchain-based auction method comprising the following steps:

[0048] 1. Each bidder who needs to participate in the auction submits an application to the auctioneer. The method of submitting the application is to publish the apply transaction in the blockchain, and before signing and publishing the apply transaction, the seller s is required to sign the refund transaction;

[0049] 2. After selecting the buyers to participate in the bidding, the seller signs the open_max transaction and publishes it to the blockchain, and signs the open_max_paydeposit transaction and sends it to the buyer. This group of transactions is used to ensure that the seller needs to disclose the transaction results within a certain period of time, otherwise the seller will lose the funds of the open_max transaction;

[0050] 3. Each buyer bids by publishing a put_money transaction in the blockchain, and the funds in this transaction are equivalent to a deposit. And before publishing the ...

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PUM

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Abstract

The invention discloses a block chain-based auction method, which relates to the technical field of block chain, including the preparation ring, bidding link and payment link. By establishing a block chain for auction, bidders, auctioneers, objects and Commitment deposits and security deposits in the auction are all put into the blockchain. Using blockchain technology, bidders, auctioneers, and objects are all released and confirmed through the blockchain, and the security deposits of all parties are paid to the blockchain. In the chain, it provides a blockchain-based system that ensures the fairness of auctions without third-party credit institutions, ensures that the auction results are mandatory, and at the same time saves related fair costs due to the absence of third-party credit institutions. auction method.

Description

technical field [0001] The invention belongs to the technical field of block chains, and in particular relates to an auction method based on block chains. Background technique [0002] The current mainstream auction forms include English auction, Dutch auction, first-price sealed auction and Vickery auction. This article focuses on the most popular of these, the English auction. An English auction, also known as a public incremental auction. Buyers openly bid against each other, with each bid higher than the previous one. The most notable feature of this type of auction is that the current highest bid is always open to potential buyers. [0003] In order to complete the auction process, the intervention of a third-party credit agency is usually required, which requires a lot of notarization fees, and the question of whether the third-party agency is credible also needs to be considered. Therefore, in order to overcome the above shortcomings, we can take advantage of the ...

Claims

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Application Information

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Patent Type & Authority Patents(China)
IPC IPC(8): G06Q30/08G06Q20/38G06Q20/40
CPCG06Q20/38215G06Q20/405G06Q30/08
Inventor 杨挺刘家稷汪文勇
Owner UNIV OF ELECTRONICS SCI & TECH OF CHINA
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