DOMAINRAIDER-ALL ABOUT THE AUCTION PROCESS

golafire (11)in #cryptocurrency • 7 years ago

DOMAINRAIDER

Domainraider
It is a French startup created in 2013, specialing in “dropcatching.”
This technique consists of reserving newly dropped domain names (such as .com, .net, and .fr) and selling them at auction.
The team is in a hyper-growth with over 20,000 sales to their name. The team of 30 speaks 7 languages natively and is spread over 3 countries, soon increasing to 5.
The team has gained prestigious clients who trust us in snapping up the best domain names for their SEO, marketing or for protecting their brands.
Here we can get any type of domains we want.And these domains are available through the auctions which are held time to time.
So through this post you will came to know about the auctions related querries.

Decentralizing auctions in real time-

The online auction platforms that currently exist are based on one centralized operation.
It rely on proprietary and closed software. As a result of this centralization, these platforms
share the same limitations:

They are not transparent
Bidders have no vi/ay to ensure the origin, authenticity
and legitimacy ofa higher bid.
They are not open
Every bidder must use the organizer's platform for registration,
authentication and bidding. So, as there are a huge number of auction
organizers Worldwide, a bidder must register many times over. They must
therefore manage many different accounts and learn hovv to use a nevv
and different interface each time.
The ecosystem is very limited
Because no one standard exists, each organizer has developed
its ovvn bidder interfaces and tools. But this proliferation has
brought down the quality.

Multiple worldwide auction platforms with a range of standards mean that bidders face
additional limitations involving payment methods or the cost of making international
payments .
Even vvhen this is the case, once again, the ecosystem is of
extremely poor quality: limited ergonomics, poor quality audio and video streaming, a
lack ofdelivery options.

So auctioneers should go through only one provider that sets its own tools and
platform.
So Domainraider is fulfilling all the requirements now a days.

So the Domainraider is organising a new and open decentralised platform which will manage any auction in the whole world either it is online or live.

So here is the auction process-

PRIOR TO AUCTION-
The auction organizer will create a BigchainDB asset that opens the sale.
The user will place a DRT deposit to open a credit search whose sum is linked to the
number of tokens deposited.

This deposit can be made in two ways:

The DRT token gel (cf paragraph above)

A Bitcoin payment, Ethereum to a DomRaider botthat generates a deposit address
and carries out the DRT token gel forthe user account. It is vvorth notice that by using
the Shapeshift service this operation vvill be possible using other cryptocurrencies.

The bot registers the deposit and records the information within the BigchainDB data
DURING AUCTION
Users place bids and higher bids via a BigchainDB transaction on the “targeted” asset.

The auction rules will be verified in accordance with the asset's configuration data.

END OF AUCTION
The winner is declared and they must make payment in order to end the operation.
If the payment is made other than with DRT, the auction organizer will note this on the system
(cryptocurrency payments may be registered automatically by Domraider bots).

Other users have the option to either withdraw their DRT tokens or leave them as a guarantee
forother auctions.

TEAM-