Research Area:  Blockchain Technology

Abstract:

The Ethereum blockchain 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 Blockchain. We adopt a strict digital certificate-based identity mechanism of the consortium blockchain 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.

Keywords:  

Author(s) Name:  Jie Xiong, Qi Wang

Publisher name:  arXiv:1903.03285

DOI:  10.5121/ijait.2019.9101

Volume Information:  

Paper Link:   https://arxiv.org/abs/1903.03285