A Sealed-Bid Auction with Fund Binding: Preventing Maximum Bidding Price Leakage
Kota CHIN,
Keita EMURA,
Shingo SATO
et al.
Abstract:In an open-bid auction, a bidder can know the budgets of other bidders. Thus, a sealed-bid auction that hides bidding prices is desirable. However, in previous sealed-bid auction protocols, it has been difficult to provide a "fund binding" property, which would guarantee that a bidder has funds more than or equal to the bidding price and that the funds are forcibly withdrawn when the bidder wins. Thus, such protocols are vulnerable to a false bidding. As a solution, many protocols employ a simple deposit metho… Show more
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