Bidding System using Blockchain

Abstract

Block chain is the latest technology in the IT industry for securing blocks of data. Secure online bidding system is designed with blockchain technology using hyper ledger saw tooth framework. Currently, there is a lot of data integrity problems with respect financial services in the market. Block chain overcomes this flaw by decentralizing the information. In the proposed work, the client can connect to the validator network to put an item or commodity of their choice for auction. Other users can view the items and connect to the validator network to bid their items using user interface. All the information regarding the items are stored on the Blockchain. Information is safe and integrity is achieved. Detailed records cannot be altered and the highest bidder has to make the purchase. Once the purchase is done, nobody can alter the data. Information is safe and integrity is achieved as both seller and bidder are enabled with security.