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   Vol.E84-A   No.1   pp.289-294
Publication Date: 2001/01/01
Online ISSN: 
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.