How does a bidding system work [System Design]?

I am interested in knowing how a bidding system works from a system design perspective. I haven't been able to find a detail design for this. There are a couple of challenges that I can think of: - many bidders for a specific item requiring multiple nodes - accepting a bid is a transaction? - ordering of bids as they come in - invalidating bids once and reflecting that to a customer very quickly

Usually systems that are distributed that also need to be fast choose eventual consistency, but I am not sure how that would work in a bidding environment. Any detailed resources (papers, blog posts, videos etc...) that I can review? Thanks!