( OPEN ASCENDING) AUCTIONS IN BYZCOIN By HARENA M. Diana - PowerPoint PPT Presentation

( OPEN ASCENDING) AUCTIONS IN BYZCOIN By HARENA M. Diana Supervisor: Jeff Allen

Auctions in Byzcoin 1 - PROJECT OVERVIEW Web browser User Interface Conode Conode Dynasent Byzcoin service application cothority Conode Auction Contract Conode 2

Auctions in Byzcoin 2 - MY APPROACH spawn auction instance auction contract Good description Good description Spawn() Seller coin IID Seller coin IID Invoke() - bid Highest bid invoke:bid Invoke() - close Highest bidder coin IID Invoke() - drop Reserve price invoke:close Winning proof Salt Reserve price 3

Auctions in Byzcoin 2 - MY APPROACH - contract behaviour 4

Auctions in Byzcoin 2 - MY APPROACH - contract behaviour 5

Auctions in Byzcoin 2 - MY APPROACH - transactions bid transaction close/drop transaction invoke:fetch → CoinContract invoke:close/drop invoke:bid credit account transaction credit account transaction invoke:store → CoinContract invoke:store → CoinContract 6

Auctions in Byzcoin 2 - MY APPROACH - client application Byzcoin service Dynasent application Global State Auction Auction object instance 1 1 Auction Auction instance object 2 2 7

Auctions in Byzcoin 2 - MY APPROACH - evaluation: how many concurrent bids? Simulation settings: - duration 20s, blockinterval of 1s - 7 cothorities on 7 servers in Deterlab - experiments: 1 auction, N increasing bids - result: max 180 bids 8

Auctions in Byzcoin 3 - DEMONSTRATION Post product Bid on product Auction Seller Buyer system View the auction updates View the bids status 9

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