Blockchain-based auctions. Tradingene review. Part II
Tradingene offers a revolutionary concept of interaction between trading algorithms developers and investors - the auction of trading is based on blockchain. This is one of the first world projects in professional investment management and fintech sphere, which uses a distributed registry technology. It provides the real-time auction bidding. Below you can find a description of how this format is implemented and used in real life and other blockchain-based projects all over the world.
The review of blockchain-based auctions
Token Stars
One of the platform functions is a blockchain auction for sports industry and fan activities
Representatives of the project:
When we worked on the platform, we pawned the auction module to draw lots among token-holders. We took it as the basis for development of a charitable project. In the process we have ensured one more time that blockchain for auction and for charity is the most correct technology, since everything is transparently.
Everything is quite simple for the auction participants. All they have to do is - to register, make a bid and make a payment with a cryptocurrency. At the end of auction, winner receives a prize, and all the rest get their bids back. If you want, you may not take the bid, and donate it (or a part of it ) to the one of funds benefit. Moreover, you can not participate at all in auction, but simply donate any amount - we decided to add this opportunity for those who do not need sports souvenirs, but want to help.
Actually, not all the funds are ready to accept the donations made with cryptocurrency, so at the end of the auction we will have to transfer money received to fiat. We will necessarily publish the report, so that participants will see that all the funds have gone to the declared charitable funds.
AdEx
Blockchain-based auction for sale of advertising on boarding passes
The AdEx ad market, based on distributed registries technology, now cooperates with a large advertising company Ink. Companies which are working on organizing block auctions for advertising spots, which will be presented on products and services of Ink.
AdEx says that such an auction is held for first time in the world, and this allows to take a fresh look at the features of Internet advertising.
The auction will be held in Ethereum network - through the main exchange of advertisements of the company AdEx.
The first auction involves sale over 2 million advertising spots on passenger boarding passes, and this will be first case of a blockchain-based auction. The auction will be conducted by AdEx, and results will be summed up by Ink and interested air carrier.
Shelf.Network
Blockchain-based auction for e-commerce
Shelf.Network represents a decentralized network of sellers and merchants, who with the help of blockchain and smart contract technology can conduct auctions in one click on their websites or in the network of affiliate stores.
At the initial stage the project was started in three countries: Georgia, Ukraine and Lithuania. The platform Shelf.Network will allow the dealer companies to enter into transactions for the sale, leasing and leasing of cars through the leading online stores in the respective countries.
As the developers note, Shelf.Network is a revolutionary protocol demonstrating the possibilities of using blockchain technology in e-commerce. The software is built on open source code, which can be easily integrated into user interface on the merchant side. Running shelf (shelf), merchant becomes a separate node in the network and automatically connects to other stores and lists of goods.
The technology of blockchain at the same time guarantees the invariability of each auction lot and allows exchanging offers of customers throughout the network.
Strain
A Secure Auction for Blockchains
Strain, a new auction protocol running on top of blockchains and guaranteeing id confidentiality against fully-malicious parties. As our goal is efficiency and low blockchain latency, we abstain from using traditional, highly interactive MPC primitives such as secret shares. Instead for Strain, we design a new maliciously secure two-party comparison mechanism executed between any pair of bids in parallel. Using zero-knowledge proofs, Strain broadcasts the outcome of comparisons on the blockchain in a way such that all parties can verify each outcome. The resulting latency is constant in both the number of parties and the bid length, i.e., asymptotically optimal. It is also low in practice, requiring only a total of 4 blocks. Strain also provides typical auction security requirements like non-retractable bids against fully-malicious adversaries. Finally, it protects against adversaries aborting the auction by reversible commitments.
Etheriya
Blockchain-Based Auction Marketplace about to Disrupt E-Commerce
Etheriya’s use of smart contracts will allow people from all over the world to auction both physical and digital goods and services, meaning almost everything can be sold on the platform, except for goods and services considered to be illegal, damaging, or detrimental to mankind. Right now, you can join their crowdsale on Bitcointalk or at their crowdsale website.
The use of smart contracts will allow for real estate auctions to take place in the auction marketplace, for example, as these are designed to eliminate third-parties such as lawyers and notaries who add hefty fees to these transactions. By pulling external facts to complete transactions, these can be completed at a fraction of the cost, and at a specific time.
The project will feature three different services: auctions, “buy now” options, and boosting services. Auctions will be blockchain-based and will allow users to gain maximum value for their offers. “Buy now” options simply mean users will be able to purchase goods and services at a fixed price and, finally, boosting services allow users to gain maximum visibility by getting their offer to the platform’s homepage or at the top of a category listing.
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