SecureBid: Sealed-Bid auctions on the blockchain
Date
2024
Authors
van de Vegte, Zoƫ
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Journal ISSN
Volume Title
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