Online English Auction Scheme

Abstract

Online English auction is most familiar and mostly used online auction process in the present scenario. It is the most efficient auction process which gives most desirable results in terms of revenue. Our scheme involves three parties, namely the Registration Manager(RM), Auction Manager(AM), and Bidder(B). The Registration Manager publicizes the parameters to register the bidders, allowing them to participate in the bidding process. It also protects the bidding rights and manages the information on the key. The Auction Manager is responsible for conducting the bidding after the registration is over. Our proposed scheme satisfies the following features such as anonymity, no framing, unforgeability, non-repudiation, fairness, public verifiability, one-time registration, and easy revocation. The scheme uses Discrete Logarithmic Problem (DLP) and Secure Hash Algorithm (SHA-1) as hash function.