Car Auction

It is an innovative crypto-driven auction platform where users can purchase various types of technology and vehicles using a native cryptocurrency.

The goal was to create a robust platform with integrated blockchain technology to enable secure, transparent, and efficient transactions.

Location

NDA

Our role

Web development

Project duration

6 months

Type of work

Time and Materials

Background

The project was conceived to create a modern crypto-driven auction platform that enables users to buy and sell technology and vehicles using a native cryptocurrency. We were tasked with building the platform from the ground up.

The client’s vision was to leverage blockchain technology to ensure the authenticity of auction lots. Each lot needed to undergo a detailed inspection, and the findings should be recorded on the blockchain, providing users with assurance that the technical inspection reports could not be altered or tampered with.

We also employed a strategic marketing approach featuring discounted sales and rewards, which ultimately garnered significant traction and trust for the platform among millions of users.

Tech Stack

Laravel

React JS

Solidity

Figma

Twilio API

Stripe API

Number of sprints

10

Tasks and challenges

What we had to do

While developing the crypto-driven auction platform, we faced several key challenges. The primary task was to build a reliable blockchain-based system from scratch, including a native token and robust auction logic.

Another concern was effectively managing the large influx of online users during auctions. With many participants actively placing bids, the platform had to sustain high traffic levels without experiencing delays. Furthermore, a substantial number of users who were simply observing the auctions contributed to an uneven load that the system needed to support.

Our team needed to integrate functionalities for users to top up their balance and exchange fiat currency for the native cryptocurrency, which required seamless and secure payment processes.

Designing a personal cabinet to provide users with detailed overviews of their activities, such as recent lots viewed and bids placed, was also crucial. Additionally, incorporating community features like forums, messaging, and comments was another vital task for us.

Develop a reliable blockchain platform from scratch
Create a native token
Design a personal cabinet with a detailed overview
Craft auction logic
Implement top-up balance/exchange fiat for native currency
Add community features

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Screens

Solution

What was done

To tackle the creation of the crypto-driven auction platform, we built a robust blockchain system from scratch using Solidity. This system enables to check the authenticity of auction lots. We selected Laravel and React.js to expedite development and align with the client’s marketing strategy. A native token was created to facilitate transactions, and comprehensive auction logic was implemented for efficient bidding processes.
One major obstacle we encountered was efficiently handling the substantial surge of online users during the auctions. Our team implemented scalable infrastructure that could handle high traffic levels without delays.
We designed a user-friendly personal cabinet for tracking recent lots and bids and integrated top-up and fiat-to-crypto exchange features for smooth transactions. Community features like forums and messaging were also added. We executed a strategic marketing plan with discounts and rewards, which successfully built user trust and attracted millions.

Reliable and scalable blockchain car auction platform
Developed a native token
Executed a strategic marketing plan

our point of view

Building crypto auction platform was challenging but exciting project. We built a solid blockchain foundation using Solidity and utilized Laravel and React.js for efficient development. The platform has native token, seamless fiat-to-crypto conversions, a personal cabinet for tracking user activities. In general, our commitment to security, performance, and user engagement drove project's success.

Dima

CTO at Peiko

Take a closer look

Developed a reliable blockchain platform from scratch

We created a robust blockchain platform to ensure the authenticity of auction lots, as envisioned by the client. Each lot undergoes a thorough inspection, with results securely recorded on the blockchain. This guarantees that technical inspection reports remain unalterable.

Provided secure report verification

We developed a mechanism for digitizing reports on the technical condition of each car on the blockchain. This prioritizes user safety and the reliability of auctioned lots. For those unfamiliar with blockchain, a straightforward mechanism is provided for verifying reports easily.

Created a native token

Our experts introduced a dedicated token for this platform, with the help of which users from different countries can participate in the auction. The token was listed on several popular exchanges, which added reliability to the project from the cryptocurrency community.

Designed a personal cabinet with a detailed overview

We crafted a user-friendly dashboard that allows individuals to monitor their activities, including recent auction views, bid history, and financial transactions. This feature provides a clear and organized summary of user engagement with the car auction platform.

Crafted robust auction logic

Peiko's specialists developed sophisticated algorithms to manage the auction dynamics, including bid processing, lot administration, and real-time updates. This ensures fair and accurate auctions, delivering a reliable and efficient experience for all participants.

Added top-up balance and fiat-to-native currency exchanges

We integrated features for users to load their accounts and convert fiat currency into the platform’s native token. This functionality streamlines participation in auctions. Users can manage their funds and engage in transactions easily.

Implemented community features

Our experts added vital interactive elements such as forums, messaging, and commenting to the auction platform. These community tools foster user interaction, encourage discussion, and improve engagement, creating a vibrant and communicative environment for all users.