To understand the difference, think about financial markets. They started out using classified ads to sell securities and then evolved into Wall Street auctions. In the mid 1800s, the New York Stock Exchange outgrew the cumbersome auction techniques and developed the real-time trading techniques that we now associate with the stock market. This technological breakthrough was called the continuous double-sided exchange, because it allowed bidders and sellers to dynamically float their price quotes. Today, these exchanges offer far more price transparency than auctions.
Stock prices respond immediately to events in the industry or world.
Market buyers and sellers can obtain or sell their products in a shorter timeframe. The Bizbots agent-enabled marketplace is the Bizbots exchange engine that powers our overall solution. Our technology is highly scalable, reliable and fault-tolerant. The Bizbots exchange engine offers buyers and sellers a trading experience that mirrors their offline experience. For instance, it lets them access historical and current market details to make more informed trades.