Decentralised Online Auction Platform with Enhanced Security Measures

Tan, Cherng Herng (2025) Decentralised Online Auction Platform with Enhanced Security Measures. Final Year Project (Bachelor), Tunku Abdul Rahman University of Management and Technology.

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Abstract

This project focuses on developing a decentralized auction platform with advanced security measures to address the increasing concerns about transparency, privacy, and security in online auctions. The current auction systems often suffer from issues like manipulation, data breaches, and centralized control, leading to mistrust among users. By leveraging blockchain technology, the project aims to create a trustless environment where transactions and bids are securely recorded and verifiable, ensuring fairness and transparency. The platform integrates advanced cryptographic techniques to protect user identities, encrypt sensitive information, and prevent fraudulent activities. The platform is designed to support real-time auctions, providing accurate information for users. Key modules include user authentication, bid management, and transaction verification, all of which operate on decentralized principles. Smart contracts are employed to automate and enforce auction rules, eliminating the need for intermediaries. Methodologies such as iterative waterfall development, blockchain protocols, and cryptographic algorithms have been used in the project. Extensive testing was conducted, including penetration tests and performance evaluations, to ensure robustness and security under various conditions. The outcome demonstrates the platform’s ability to offer a secure, transparent, and efficient auction process. While the system excels in preventing tampering and ensuring trust, further improvements could focus on scalability and user experience. Overall, the platform contributes significantly to the field of decentralized applications by addressing the critical issues in auction-based systems.