Decentralized Smart Auto Auction

Goal:

Create a Smart Contract on the Blockchain that executes the following functions:

• Create Auction
• Register Assets / Register Auctioneers
• Add Bidders
• Transact Highest Bid
• Execution via Python or Wallet Extension (MetaMask).

Problem Solved

Digitize a car auction using ethereum SmartContracts. This allows users to tokenize a nonfungible asset that they own, create/host a digital auction for the asset or token, and collect the proceeds from the auction directly. With this solution SmartContracts replace most of the functionality of a third parties required in a traditional live auction. By replacing third party auction or transaction facilitators with SmartContracts, buyers and sellers can interact directly without the need for a third party and fees associated with traditional auctions.

Neccessary Equipment

• Solidity / Python languages:
  • OpenZepplin ERC721- Solidity
  • Web3 - Python
• Ganache Install
• Remix IDE Install
• MetaMask Install Extension (Crypto Wallet)
• AWS
• Conversational User Interfaces (CUI's)
• Recommended Browser: Firefox (Note: you may encounter complier errors using google chrome or Brave browser.)

Install Instructions

• Ganache Ganache Install
• Remix IDE Remix Install
• MetaMask MetaMask Download

Compile/Deploy SmartContracts

• Open Ganache
• Open remix IDE in your browser (FireFox Recommended)
• Connect MetaMask to the remix IDE and switch to localhost network on MetaMask
• From the "Home" tab in the remix IDE use "open files" to load the SmartContract files into the remix IDE from your device.
• When finished loading the files make sure you have loaded CarAuction.sol, BidderDto.sol, CarDto.sol and ServiceLayer.sol in to the remix IDE
• Switch the compiler version in the remix IDE to version 0.5.5 and compile each contract
• Navigate to Deploy & Run Transactions on the left side of the remix IDE
• Change the environment to Inject Web3, switch to the Ganache wallet address desired and click "Deploy"
• Confirm the transaction to deploy in MetaMask when propted. ServiceLayer is listed under "Deployed Contracts" in the remix IDE
• Congratulations! You are now ready to interact with the ServiceLayer SmartContract!
• Uses OpenZepplin contracts to import ERC721 standard ,which tokenizes non-fungible assets into unique tokens to create secure transactions.
• Uses mapping and events
• Note the various functions like createAuction, registerCar, addBidders, etc. these will be used to register cars as tokens, create an auction, and add bidders to said auction.
• SEE CODE (ServiceLayer.sol)

Python - Smart Contract

• Imports
• Connect to web3
• Read in ABI file from Smart Contract
• Plug in smart contract address
• Establish functions and parse in information (i.e. bidder address, vehicle info., bid amount, etc.)
• Watch transaction in Ganache

Beginning Balance

We will use the address ending in ...f4A1 to transact a bid with the Smart Contract

Run the Python Code

Run Python code using web3.middleware

• Register Car & Create Auction
• Add Bidder
• Place Bid
• End Auction

After Running Python

Notice how account ending ...f4a1 balance dropped to 98.24 ETH