How should I go for online auction implementation

Question

Let's say we are going to implement a online auction for some property where multiple bidders can go for bidding by putting different bidding rates in multiple times. How we can implement this.

Answer 1

This is a cool idea.  One implementation might be to create bid assets and write bid assets to a stream.  You could control the bidding assets and distribute bids from nodes with permission or allow public creation of bidding assets by any node. Then bidding assets would be written to a stream.  You could decide the permissions similarly for writing to the stream by anyone or only nodes with permission.

Answer 2

You can achieve this using Atomic exchange transactions, please go through the following tutorial
http://www.multichain.com/developers/atomic-exchange-transactions/