Abstract:
Auction has been an integral part of trading throughout ages. Sealed-bid e-auction (both
first-price and second-price) is considered to be a classic example of Secure Multi-Party
Computation problem. In this project, without assuming any role of auctioneer, we try to
formulate a protocol in which the bidders jointly compute the highest bid, keeping all the
losing bids secret to the bidders. The focus of the work is to study and implement a verifiable
sealed-bid e-auction scheme in decentralized settings. We have studies some possible choices
of schemes and decides to further work on the SEAL protocol, which eventually is the first
decentralized sealed-bid auction protocol to achieve linear computation and communication
complexity. The project aims to build a platform which shall take bit-strings as bid inputs
from the bidders and output the final result which is maximum among the bids. We have
implemented the segments of the protocol using Solidity Language over a Test Ethereum
Network and the front end is to be done using HTML Languages. This implementation targets
to achieve publicly verifiability without leaking information about the bids form the bidders.
