Efficient First-Price Sealed-Bid Auction Scheme

Electronic auction has opened up a popular research topic in electronic commerce over the past few years. It can be widely utilized in various circumstances, as it provides a flexible way to improve the transaction rate and save the costs. Despite its advantages in transactions, current electronic auction protocols incur high communication rounds as well as storage and computational overhead among auctioneer(s) and multiple bidders, especially for resource-limited devices. In this paper, by leveraging Short Comparable Encryption scheme based on Sliding Window method (SCESW) and multilinear maps, we construct an Efficient First-price Sealed-bid Auction scheme (EFSA) to address the aforementioned problem. The novelty lies in that we provide a more efficient construction in electronic auction system, which just needs one round communication and drastically decreases the computational and storage costs in the bidder side when compared with existing schemes. The formal security analysis proves that EFSA scheme can achieve weak indistinguishability in standard model. Moreover, simulation results show that EFSA scheme is efficient and feasible in practice.