SecureBid: Sealed-Bid auctions on the blockchain
Date
2024
Authors
van de Vegte, Zoƫ
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Publisher
University of Victoria
Abstract
Over the summer term, I conducted a hands-on exploration of blockchain technology. I surveyed the infrastructure of blockchain, its current and potential applications, as well as its benefits and drawbacks. I implemented a smart contract for secure online auctions using hash functions, to preserve bidder honesty and to prevent auctioneer corruption. I began my research by following an online course on blockchain technology, as well as attending ECE 406: Applied Cryptography, a UVic course taught by my supervisor, Dr. Riham AlTawy. Both these courses developed my understanding of the concepts and techniques necessary to build and understand a blockchain application. I also began studying existing decentralised apps (DApps), specifically an auction DApp similar to what I aimed to build. Whereas the auction DApp I studied used more advanced techniques including elliptic curve cryptography, I was able to implement the necessary cryptographic properties for my DApp using hash functions, one of the most fundamental cryptographic primitives.
Description
Keywords
blockchain, cryptography, security, decentralisation, hash function, Valerie Kuehne Undergraduate Research Awards (VKURA)