BCES: A BlockChain based Credible E-Bidding System

Abstract

In recent years, blockchain is experiencing a rapid development and has the huge potential of revolutionizing the information platform in the deposit application field. In this paper, a blockchain based credible e-bidding system (BCES) is presented to address operational compliance, multi-party coordination, and cybersecurity problem in the process of distribution, verification and backtracking of bidding data files. BCES is comprised of basic configuration management, contract business deployment, data service processing, system service support, data visualization. Through detailed design of a set of blockchain integration and transformation mechanism for bidding business, different stakeholders are connected together with the help of the alliance blockchain, forming a flat trust management model. The experiments demonstrate that the average TPS of BCES is stable at around 2600-2800, and the response time of the blockchain deposit platform is within the acceptable time range of 3s, and the error rate is very low. Currently, BCES has been deployed and applied in China Telecom Corporation and has achieved remarkable results.