A new secure and efficient M+1st price auction scheme based on ECC system
Yü Liu · 2009
The Internet is a prime vehicle for supporting electronic auction and a primitive mechanism for setting price. For anonymous bid, many electronic auction schemes are presented recently. But up to now, the research on secure M+1st price auction is still very weak. This paper provides a new secure and efficient M+1st price auction scheme based on elliptic curve cryptosystem (M+1stPAECC), which guarantees the nonrepudiation and anonymity of bidders by using the digital signature encryption scheme. M+1stPAECC achieves the valuable properties of bid secrecy and bid confidentiality. It is very efficient and has low round communication complexity: only 1 round from each bidder to each auctioneer in bidding phase and n rounds from each auctioneer to trusted authority in opening and announcement phase. More importantly, M+1st PAECC supports the second-price principle and optimal distribution of goods and suitable for large-scale distributed auction.