Fully private auctions for the highest bid

Abstract

We present a secure auction scheme with affordable computations and communication complexity. In this scheme, we use blockchain to publish commitment and some public messages only. All bidders are forced to perform protocol honestly and are not permitted to change or retract their bids. To preserve privacy, we use insulated ciphertext comparison protocol to compare the bids. Our scheme is more efficient than traditional auctions using MPC/ZKP primitives. The total number of interaction rounds for N bidders is 3(N - 1). Furthermore, when the comparisons is performed in parallel, the number of rounds dramatically decreases to 3 log N.