Bidder Coin is a decentralized bidding engine that brings peer to peer buying and selling for everybody at no cost. It serves as a platform that isn’t controlled by any single individual, board or other central entity. Armed with self-executing smart contracts, Bidder Coin aims to remove middle man and trade fee when it comes to buying and selling by means of auctions.
Bidder Coin is a scalable electronic auction platform based on peer to peer, distributed ledger. Bidder Coin adopts Proof-of-Stake for establishing consensus, an ideal option where decisions about changes in the future are made, based on the percent ownership that various stakeholders have over the application. Bidder Coin takes a leap in technical design with an economic base of self regulating financial system that creates a strong foundation for independent, governance free and robust exchange for goods and services.
The key function of this bidding system is to transfer goods from one person to another directly in exchange of real money, by discarding any commissions to a middleman/website/platform, or anything that acts as a medium or facilitator of such a trade. Items that are one-of-a-kind are unique because of their condition or other attributes, and as a result, there’s no market that can quote an efficient price for every unique item. As a result, auction platforms turn out to be much more efficient for fetching the best price to the seller.