Anonymous Auction Protocol Based on Time-Released Encryption Atop Consortium BlockChain

Abstract

The Ethereum block chain as a decentralized platform is so successful that many applications deployed on it. However, for the inherent transparency properties and the lack of privacy, deploying a financial application on top of it is always a challenge. In this paper, we tackle this challenge and propose an anonymous sealed-bid auction protocol based on time-released encryption atop Consortium Block chain. We adopt a strict digital certificate-based identity mechanism of the consortium block chain to permit legitimate participants, and utilize the blind signature based on elliptic curve technology to allowing anonymous participation. Moreover, a timed release public key encryption algorithm is adopted to encrypt bids and prevent auctioneer from colluding with bidders. This is completely different from the method (zero-knowledge proof) used in other papers to prevent collusion between auctioneer and bidder. We provide a specific analysis of our protocol, which shows that our protocol meets anonymity and applicability.

A Smart Campus Implementation Architecture Based on Blockchain Technology

“…(i) Distributed ledger technology: distributed ledger technology uses the transaction ledger to summarize the subledgers distributed on different nodes, and each node maintains independent ledger data to ensure that it can conduct transactions under supervision [61]. The essence of the allocated ledger is a multinode database, and the access rights of the ledger are controlled by digital signature [62].…”

Efficient First-price Sealed E-auction Protocol Under Secure Multi-party Computational Malicious Model

“…Cheng et al [17] proposed a sealed auction protocol based on digital signature technology, which has a more complex overall structure due to the participation of auxiliary third parties, and the protocol has the hidden danger of collusion between semi-trustworthy third parties and bidders. With the development of blockchain technology, many scholars began to study electronic auction protocols on blockchain, such as the auction protocol proposed by Galal et al [18] based on blockchain and zero-knowledge proof, and the auction protocol proposed by Xiong et al [19] based on blockchain and blind signature technology, although both of these protocols are based on blockchain technology making electronic auctions with advantages such as openness, transparency, and tamper-evident , there are still some shortcomings in terms of system privacy leakage protection, public verification of all members, and resistance to collusive attacks by malicious participants. The comparison of related works is shown in Table 1.…”