ZRA: A Secure and Radical Auction Scheme for Blockchain with Privacy Preservation

The market for digital collections is expanding. Artists and collectors throng the market for digital collectibles. The auction of digital collections is currently a trending subject. Digital collectibles require an auction framework with continuous bidding because of their negotiable nature. The monopoly issue with digital collections is resolved by permanent or continuous pricing. In continuous pricing, malicious bidding is a possibility. Inflated prices are the result of malicious bidding. In order to combat the inflated value, the Harburg tax was implemented. So we reviewed blockchain-based digital collectibles auction solutions from three different perspectives: (i) Auction scheme with anti-monopoly characteristics for continuous pricing; (ii) Solve the problems of digital collection values that are inflated; (iii) Protect the bidder’s privacy and bid strategy. This paper combines radical market theory, the Harburg tax, and radical auction smart contracts. Our auction framework ZRA implements anti-monopoly, continuity, and privacy protection features. On simulated ethernet, ZRA can be deployed effectively. According to experiment results, ZRA can reduce communication overhead by 30%.