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A new secure and efficient M+1st price auction scheme based on ECC system

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1 Author(s)
Yu Liu ; Dept. of Manage., Hefei Univ. (HFUT), Hefei, China

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+1st PAECC), which guarantees the nonrepudiation and anonymity of bidders by using the digital signature encryption scheme. M+1st PAECC 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.

Published in:

Anti-counterfeiting, Security, and Identification in Communication, 2009. ASID 2009. 3rd International Conference on

Date of Conference:

20-22 Aug. 2009

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