Scalable Off-Chain Auctions

ePrint Report: Scalable Off-Chain Auctions

Mohsen Minaei, Duc V. Le, Ranjit Kumaresan, Andrew Beams, Pedro Moreno-Sanchez, Yibin Yang, Srinivasan Raghuraman, Panagiotis Chatzigiannis, Mahdi Zamani

Blockchain auction plays an important role in the price discovery of digital assets (e.g. NFTs). However, despite their importance, implementing auctions directly on blockchains such as Ethereum incurs scalability issues. In particular, the on-chain transactions scale poorly with the number of bidders, leading to network congestion, increased transaction fees, and slower transaction confirmation time. This lack …

assets auction blockchain blockchains digital digital assets discovery eprint report ethereum important mahdi nfts report role scalability