A Blockchain Electronic Bidding Scheme Based on Homomorphic Encryption

Abstract

Proposes a block chain-based bidding solution. By recording all bidding processes, all quotation information uses additive homomorphism and multiplicative homomorphism encryption, combined with the application of random numbers, to prevent the encryption party from deducing other participating party's information. Using the homomorphic encryption-based blockchain electronic bidding scheme proposed in this article, using a decentralized solution, protects the security of bidders, improves the fairness and reliability of bidding, and the bidding process can be traced, and block chain ledger is stored distributed at every node of the blockchain, to prevent hackers from attacking a centralized node to arbitrarily tamper or illegally obtain bidding data, and the security is greatly improved.