This project has been flagged for recycling pre-existing work
This centralised world, controlled by third-party institutions has a lot of problems and one of the common problems that need to be addressed is the bidding system The problem that the current traditional auction system faces are
1)Lack of transparency
Traditional auctions may not provide enough information about the items being auctioned, making it difficult for bidders to verify their authenticity and value.
2)Fraud
Traditional auctions are vulnerable to fake bids or fake items being sold, which can undermine trust in the auction process.
3)HIGH FEES
Traditional auctions often charge high fees for their services, which may deter some potential bidders.
So we made our website blocked bid smart bid secure and bread on the Blockchain. The solution that our website provides is 1)Increase transparency by providing a secure, transparent record of all transactions,
2)our website can reduce the risk of fraud by providing a tamper-proof record of all transactions.
3)our web app can potentially allow for a wider range of items to be auctioned
our website can reduce the risk of fraud by providing a tamper-proof record of all transactions, our web app can potentially allow for a wider range of items to be auctioned.
We were using IPFS to store photos of the auction and ethers.js to connect our front end with the blockchain. We had literally no idea how to connect IPFS with it. We had to go through documentation and youtube videos to get a relevant idea of how to work on it. It was a lot of trial and error, but eventually, we successfully implemented IPFS into our project. Another hurdle was for some misconception while pushing into the master git repository. Due to this we had to again make a new repository and write some of our codes again. Another challenging part was making the UI of this app, which really took a lot of effort and time. Overall, the experience was a valuable lesson in the importance of understanding the limitations of the tools you are using and being prepared to find creative solutions when faced with challenges.
Tracks Applied (2)
Filecoin
Solana
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