An online auction method and system based on block chain technology

Abstract

The invention relates to an online auction method and a system based on block chain technology. The method comprises the following steps: a system party receives and stores auction registration information input by an auctioneer and auction authentication information input by a public trust organization party, and stores the auction authentication information on the block chain. The system createsbidding contract and pledge contract on the block chain, and transfers the corresponding margin of the auctioneer to the pledge contract; the system party adds the registration information of the bidder in the bidding contract, and transfers the corresponding margin of the bidder's account to the pledge contract; after the bidding starts, the bidding contract receives the bidding request of the bidder according to the bidding contract agreement, decides the winner according to the bidding contract agreement, and completes the auction according to the pledge contract. The invention combines the unique auction process realized based on three intelligent contracts, and can carry out the entrusted auction and the automatic bidding auction, thereby improving the fairness and participation of the bidding and effectively improving the transaction rate of the auction target.

Description

technical field [0001] The present invention relates to the field of block chain technology, and more specifically, relates to an online auction method and system based on block chain technology. Background technique [0002] As of 2017, the turnover of the auction industry has exceeded 500 billion yuan for many years in a row, among which online auctions have not only increased in turnover year by year, but also have more and more auction categories; The problems in the link are still relatively serious. How to better control the pre-auction preparation and post-auction delivery links to help solve the problems of unsold auctions and delivery is a pain point that the domestic online auction industry hopes to solve urgently. [0003] In the current online auction technology, there are the following outstanding problems: most of the lots lack convincing descriptions and supporting documents, and investors have no way of judging, resulting in failed auctions; high-value lots r...

AI Technical Summary

Problems solved by technology

[0003] In the current online auction technology, there are the following prominent problems: most of the lots lack convincing descriptions and supporting documents, investors have no way of judging, resulting in failed auctions; high-value lots require large transactions, and online payment solutions are limited in payment methods , leading to failed auctions; the auction is opaque, investors cannot judge the authenticity and legitimacy of the source of higher bids, and there is a risk of unfair bidding

However, this technology mainly solves the fairness of third-party credit institutions, and cannot solve the above-mentioned prominent problems in the current auction process

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