![]() ![]() ![]() Blockchain provides a distributed repository along with smart contracts for trade management. So blockchain technology is being preferred as a secured infrastructure in P2P trading. But there is a risk of central authority influencing the energy price. A central server/authority can be used for this. In peer-to-peer (P2P) energy trading, a secured infrastructure is required to manage trade and record monetary transactions. (3) The proposed scheme effectively resolves disputes that may arise during the auction. Because malicious individuals are prevented from evaluating data by tracking numerous transactions of a single public key, this significantly protects bidders’ privacy. (2) The ring signature-based anonymous auction protocol allows for concealing bidders’ public keys in a group of public keys. ![]() Three features summarize this essay: (1) Using blockchain technology to ensure that the auction transaction process is transparent, traceable, tamper-proof, and unforgeable. In this paper, we present a blockchain-based online auction solution as well as an auction protocol that uses ring signatures to guarantee anonymity. Blockchain is a new generation of information technology that is decentralized, transparent, traceable, anti-tampering, and unforgeable, following big data, cloud computing, and artificial intelligence. The emergence of blockchain technology has brought a new approach to solving these problems. However, privacy concerns have reduced users’ trust in auction platforms, and complicated disputes have led consumers to lose faith in online auctions, negatively impacting market growth. Bidders can access a wider variety of products, and sellers can reach a larger audience through online auction platforms. ![]() Finally, we give our implementation which shows transaction fees required and compare it to a sealed-bid auction protocol employing the simple deposit method.Ĭonsumer approval of the online auction paradigm is demonstrated by rapidly expanding online auction transaction volumes. CCS 2020) that proves the validity of the data to a verifier in which the data are taken from a source without showing the data itself. We discuss how much bidding transactions are hidden. For hiding the maximum bidding price, we pay attention to the fact that usual Ethereum transactions and transactions for sending funds to a one-time address have the same transaction structure, and it seems that they are indistinguishable. Our protocol not only hides the bidding price and a maximum bidding price, but also provides fund binding, simultaneously. In this paper, we propose a sealed-bid auction protocol that provides a fund binding property. However, this deposit reveals the maximum bidding price, and it is preferable to hide this information. As a solution, many protocols employ a simple deposit method in which each bidder sends a deposit to a smart contract, which is greater than or equal to the bidding price, before the bidding phase. Thus, such protocols are vulnerable to false bidding. 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, a sealed-bid auction that hides bidding prices is desirable. In an open-bid auction, a bidder can know the budgets of other bidders. Compared with the related sealed e-auction schemes based on blockchain technologies in six metrics, we conducted the experiment to show that the proposed scheme protected the bid information from leakage well and successfully verified the winning bid price and the related bidder by all transaction participants without the third-party auctioneer. The proposed scheme constructed an auction mechanism without the third-party auctioneer so as to restrict the behaviors of auction parties for the sake of auction security, reliability, fairness, and privacy protection. Based on the blockchain technology, we proposed a sealed-bid e-auction scheme with smart contract technology, Bulletproofs zero-knowledge proof protocols, and Pedersen commitment algorithm. According to the transaction process and basic principles of the sealed auction, we explored the problems existing in the current sealed-bid e-auction schemes. However, the protection of bidders’ privacy, transaction fairness and verifiability, transaction data security, high cost of third-party auction center, and other issues have attracted more attention. E-Auction improves the efficiency of bid transaction. ![]()
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