Securing Authenticity in Secondary Market Luxury Goods Auctions: A Binance Smart Chain-Based Blockchain Solution with Advanced Cryptographic Techniques

Tewari, Animesh (2024) Securing Authenticity in Secondary Market Luxury Goods Auctions: A Binance Smart Chain-Based Blockchain Solution with Advanced Cryptographic Techniques. Masters thesis, Dublin, National College of Ireland.

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Abstract

With the advancement of Blockchain technology and its usage, an area of improvement was identified, where with the use of this advanced technology, more secure and reliable systems can be built in order to solve a specific problem within the resale luxury goods market. One of the biggest issues that the luxury brands have been facing, in resale market, is counterfeiting. Due to the fake products, circulating the market, not only the reputation of these brands, built over the years with exclusivity and great quality products, is destroyed but these products also impact the customers’ trust and loyalty towards the brand. Since, the resale market of luxury goods, especially the luxury watches, is ever increasing, we can use Blockchain to counter this issue of counterfeit products. This technology has potential to make a great impact, by helping verifying the authenticity of luxury products, that has been put up for sale.

In this research, a blockchain-cloud o↵-chain authentication mechanism for EAuction system is built, with the help of smart contracts that helped verify the authenticity of luxury products, that their sellers want to put up for auction. The research also helps compare the usage of Ethereum, used to build some of the initial blockchain e-auction systems, with Binance Smart Chain. The metrics from the Experiment(6.2), of this paper, clearly indicate why Binance Smart Chain, when used with advanced cryptographic techniques like SMPC, can help build more scalable, efficient and reliable systems, as compared to Ethereum. The experiments showed around 30% reduction in the gas cost and about 80% reduction in processing time when opting Binance Smart Chain for authentication with SMPC involved.

Item Type:	Thesis (Masters)
Supervisors:	Name Email Heeney, Sean UNSPECIFIED
Subjects:	H Social Sciences > HF Commerce Q Science > QA Mathematics > Electronic computers. Computer science T Technology > T Technology (General) > Information Technology > Electronic computers. Computer science Q Science > QA Mathematics > Computer software > Computer Security > Database security > Blockchains (Databases) T Technology > T Technology (General) > Information Technology > Computer software > Computer Security > Database security > Blockchains (Databases) Z Bibliography. Library Science. Information Resources > ZA Information resources > ZA4050 Electronic information resources > Databases > Distributed databases > Blockchains (Databases) T Technology > T Technology (General) > Information Technology > Cloud computing
Divisions:	School of Computing > Master of Science in Cloud Computing
Depositing User:	Ciara O'Brien
Date Deposited:	04 Jul 2025 11:20
Last Modified:	04 Jul 2025 11:20
URI:	https://norma.ncirl.ie/id/eprint/8059

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