9th International Conference on ICT for Sustainable Development

Authors - Tanishq Shinde, Anurag Nalkar, Aryan Nikale, Rohan Mathew, Priyamvada Singh Chauhan
Abstract - This paper unveils "BidChainX," a cutting-edge blockchain-based auction platform designed to revolutionize conventional auction models. Departing from centralized approaches, this system prioritizes decentralization, transparency, and security, empowering both buyers and sellers alike. Through the fusion of smart contracts with cryptocurrency, BidChainX orchestrates real-time updates, seamless bidding experiences, and rapid payment settlements. Furthermore, it integrates a robust reputation management system to foster trust within the marketplace. Notably, BidChainX places paramount importance on security and privacy, exemplified by the incorporation of mutual anonymity and comprehensive user protection measures. As it disrupts traditional retail dynamics, this project aims to expand its global reach and stimulate international trade and commerce, all while maintaining a user-friendly approach.