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Efficient Sealed-Bid Auction by Using One-Way Functions
Kunio KOBAYASHI Hikaru MORITA Koutarou SUZUKI Mitsuari HAKUTA
IEICE TRANSACTIONS on Fundamentals of Electronics, Communications and Computer Sciences
Publication Date: 2001/01/01
Print ISSN: 0916-8508
Type of Manuscript: Special Section PAPER (Special Section on Cryptography and Information Security)
sealed-bid auction, quantitative competition, one-way function, bit commitment,
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The need for electronic sealed-bid auction services with quantitative competition is increasing. This paper proposes a new method that combines one-way functions and a bit commitment technique for quantitative competitive sealed-bid auctions. Since each modular exponentiation is replaced with a one-way function, the proposed method's computational time is one forty thousandth that of the former methods and the proposed method suits mass bidder systems.