Cryptographic protocol for electronic auctions with extended requirements

Abstract

In this paper we present a cryptographic protocol which is the realization of an electronic auction being the component of the e-government system. This cryptographic protocol fulfils all the functions of the classic auction and additionally, by use of cryptographic primitives, enhances the protection of information. The characteristic features of the protocol are: the incontrovertibility of participants and offers, data integrity, confidence of bids, anonymity of the winning bidder, public verification of the result of auction and confirmation of taking part in the auction.