CHAPTER ONE

1.0     INTRODUCTION

During my research I found out that, auction sales information system is the process of buying and selling system where the buyers are allow to price the goods at any level the buyer wants. Also auction sales system the two opponents can be there when the auction is going on. Auction sales information system is an open multitrade transaction between the sales and buyer. The model allows several trades to enter the same transaction by allowing them to be forked and terminated but it restrict their behaviors in order to guaranties correctness of transaction nesting and isolation among transaction.

Automated auction sales of goods can take place on internet auction site like e – Bey Auction site and one of the few surviving e – Boom Company of nineties. It seems to have a monopoly for internet buyer and sellers. Automated auction sales information provides a framework in which the trade of goods takes place. Buyer, seller, and auction houses adhere to a strict set rule to ensure the fair trade of commodity. As with regular auctions, electronic auction must ensure that these rules are not break under any circumstances. If the rule of an auction breaks down during the auction process the auction is invalid.

The major difference between conventional auctions and electronic auction are that participants never need to be physically present in the same room. On the one hand this can be advantageous as the number of competing participants is potentially huge. On the other, it exposes a number of security risks that threaten the validity of the auction.

Bidders, sellers, auctioneers can cheat and break the rules of conduct. For instant, a bidder might not pay the winning price; a seller may not deliver the lot; an auctioneer may not be bias and not allocate the win to the rightful winner. In order to ensure that the rules are followed at all time the electronic auction must presume that all participants are dishonest and deploy cryptographic schemes to tackle specific security issues and requirements. If we are going to develop and a truly successful multiaucton system our understanding and effective deployment of security method will be paramount. 

1. STATEMENT OF PROBLEM

The auction system we are familiar with is usually a concurrent system though, it is manually operated; designing an automated or computer based auction system for Enugu state rent tribunal that would be operated concurrently becomes extremely difficult to understand, design, analyze and modify sophisticated object – oriented system often need more advanced and elaborate concurrency features than those offered by current programming languages.

Multiple objects must usually be accessed or updated jointly to correctly reflect the real world, hence great care must be taken to keep related objects globally consistent. Any interruption of updates to objects , or the interleaving of updates and accesses, can break the overall consistency of an object system. Transaction addresses this kind of problem.

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