Blockchain auction

Idea: Create an easy access to simple auction mechanisms that are completely transparent.

Functioning: After creating an auction users can send their bids, and after the end of auction the highest bid will be shown and all other users will get their money returned.

Advantages: Making a bid in auction is binding, because the offered money is part of the bid, in the form of sent cryptocurrency. Various forms of auctions, including blind auction can be created.

Disadvantages: Need of having enough money on one address. Complete transparency can be undesired sometimes, however some mechanisms exist how to keep the bid amount secret.

My ETH address:

Name of the auction:

Starting price in ETH:

Duration in hours:

Choose the auction you want to participate: Auction 1 Auction 2 Auction 3 Auction 4

How much ETH you want to bid: