Our product roadmap helps us share what we’re working on next on our development schedule and the direction that we’re taking our business into. Sharing Auctionity's Milestones helps us open up a dialogue with our customers and contributors about what they want and need. We are well on our way. Have a look at our roadmap below to get a better sense of our progress.
Ethereum LiveNet blockchain transaction mining time and gas costs are two major limitations to deal with before we can create an easy-to-use auction solution. To overcome these two issues, we have decided to use a private Ethereum blockchain for our initial product release. This Private blockchain is based on Ethereum open-source code, through Go implementation (aka Geth). This smart contract solution guarantees a transparent auction process.
Under 1 second consensus delay
Low transaction cost
Transparent and re-playable
Fast to set up for a benchmark
Fully-described consensus protocol that we could trust
Reactive node able to push new transactions to a socket
Core API for Auctionity
A fast and secure API to communicate with our private blockchain. It will link all the Auctionity's blockchain operations to an HTTP request.
Auctionity by Domraider
This is the Minimum Viable Product (MVP) allowing you to see the auction process at work including customer API, the auction widget integration and a demonstration on the platform.
Auctionity demo (MVP)
Auctionity has developed its own Block Explorer which allows you to check transactions in pool. This is a useful tool that can be used to track the history of transactions that have taken place on the Auctionity blockchain. All transactions are publicly recorded on the blockchain and you can search to find more detail about any one of them. The Auctionity Block Explorer is set to become a complete resource in the future.
Open Core API
The core API has been cleaned up and documented to allow anybody to use it easily and to bring their own auction implementation to the Auctionity blockchain.
Payment guarantee counter-party for all auctions.
Connect livenet via Oracle
Customizable auctions for variable guarantee
General deposit for several auctions
Anonymous deposit unlinked to auction participant
Auctionity v2 core blockchain project
Auctionity will bring an auction-optimized blockchain technology. For auctions processes to execute faster and in a perfectly transparent way, some specific mechanisms will have to be added to reduce operation costs and increase transaction speed. This will eventually lead to a fully decentralized solution allowing anyone to join the network.
Advanced auction features
Proxy bidding makes bidding on auctions easier and less time-consuming for buyers once the auction reserve price has been met. Proxy bidding is an implementation of an English second-price auction, in which the winning bidder pays the price of the second-highest bid plus a defined increment.
Immediate buying (dependent on payment guarantee)
Reserve price (dependent on payment guarantee)
Other auction process
The first form of auction developed on Auctionity is the English auction, also known as an open ascending price auction. This kind of auction is the most common form of auction in use today. To extend the adoption of Auctionity by more people, other forms of auctions will be developed: Vickrey auctions also known as a sealed-bid second-price auction, and Dutch auctions aka open descending price auction.
Open Auctionity for foreign nodes
Waiting for core v2, Auctionity will allow foreign nodes to participate in the validation consensus and guarantee Auctionity decentralization and trust.