Research Article
Fairness Protection Method of Vickery Auction Based on Smart Contract
@INPROCEEDINGS{10.1007/978-3-030-96791-8_2, author={Yuan Yu and Li Yang and Wenjing Qin and Yasheng Zhou}, title={Fairness Protection Method of Vickery Auction Based on Smart Contract}, proceedings={Security and Privacy in New Computing Environments. 4th EAI International Conference, SPNCE 2021, Virtual Event, December 10-11, 2021, Proceedings}, proceedings_a={SPNCE}, year={2022}, month={3}, keywords={Vickery auction Blockchain Smart contract Secure multi-party computation Evaluation model}, doi={10.1007/978-3-030-96791-8_2} }- Yuan Yu
Li Yang
Wenjing Qin
Yasheng Zhou
Year: 2022
Fairness Protection Method of Vickery Auction Based on Smart Contract
SPNCE
Springer
DOI: 10.1007/978-3-030-96791-8_2
Abstract
In the Vickery auction rules, the highest bidder gets the goods, but deals with the second highest bid. Although Vickery auction rules can solve the problem of information asymmetry between buyers and sellers, the common fairness problems outside the bidding rules, such as buyer collusion, multi-price bidding and seller price raising, still cannot be solved. This paper proposes a new fairness protection method of Vickery auction. It builds an auction platform based on blockchain, and realizes fair bidding to prevent collusion and ensure the only bid through the automatic execution mechanism of smart contract. At the same time, this method protects bidding privacy and excludes the seller’s bid based on secure multi-party computation. It improves the security of Vickery auction in practical application. This paper also builds a fairness evaluation model of bidding mechanism, and proves that the method has good performance in protecting bidding fairness.
