Bag, Samiran, Hao, Feng, Shahandashti, Siamak F. orcid.org/0000-0002-5284-6847 et al. (1 more author) (2019) SEAL: Sealed-Bid Auction without Auctioneers. Information Forensics and Security, IEEE Transactions on. 2042–2052. ISSN 1556-6013
Abstract
We propose the first auctioneer-free sealed-bid auction protocol with a linear computation and communication complexity O(c), c being the bit length of the bid price. Our protocol, called Self-Enforcing Auction Lot (SEAL), operates in a decentralized setting, where bidders jointly compute the maximum bid while preserving the privacy of losing bids. In our protocol, we do not require any secret channels between participants. All operations are publicly verifiable; everyone including third-party observers is able to verify the integrity of the auction outcome. Upon learning the highest bid, the winner comes forward with a proof to prove that she is the real winner. Based on the proof, everyone is able to check if there is only one winner or there is a tie. While our main protocol works with the first-price sealed-bid, it can be easily extended to support the second-price sealed-bid (also known as the Vickrey auction), revealing only the winner and the second highest bid, while keeping the highest bid and all other bids secret. To the best of our knowledge, this work establishes to date the best computation and communication complexity for sealed-bid auction schemes without involving any auctioneer.
Metadata
Item Type: | Article |
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Authors/Creators: |
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Copyright, Publisher and Additional Information: | This is an author-produced version of the published paper. Uploaded in accordance with the publisher’s self-archiving policy. Further copying may not be permitted; contact the publisher for details |
Keywords: | Cryptographic Protocol,e-auction,SEALED-BID AUCTIONS,second sealed bid auction,Vickrey auction |
Dates: |
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Institution: | The University of York |
Academic Units: | The University of York > Faculty of Sciences (York) > Computer Science (York) |
Depositing User: | Pure (York) |
Date Deposited: | 22 Nov 2019 11:40 |
Last Modified: | 16 Oct 2024 16:13 |
Published Version: | https://doi.org/10.1109/TIFS.2019.2955793 |
Status: | Published |
Refereed: | Yes |
Identification Number: | 10.1109/TIFS.2019.2955793 |
Related URLs: | |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:153797 |
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