The aim of the project is to build up a transparent, decentralised e-Auction system for state property privatisation and lease, for minimising the existing corruption and mismanagement risks, reduce the state budget expenditure and give barrier less access for participation in the process. Participants run nodes that are compiled from open source code. Nodes communicate in fully p2p manner and validate transaction using PoS (proof of stake) consensus algorithm. Auction is connected to banking system to validate existence of certain participant (banks do KYC during initial bid acceptance) and importance of trading platform in current auction.
eauction.ioabout implementation