Abstract
Traditional voting and bidding systems largely rely on paperwork and human resources throughout the voting process, which can incur high costs in terms of both time and money. Electronic voting and electronic bidding systems can be used to reduce costs, and many new systems have been introduced. However, most systems require a powerful and trusted third party to guarantee system integrity and security. With developments in blockchain technology, research has begun to highlight the core concept of decentralization. In this study, we introduce the first decentralized electronic voting and bidding systems based on a blockchain and smart contract. We also use cryptographic techniques such as oblivious transfer and homomorphic encryptions to improve privacy protection. Our proposed systems allow voters and bidders to participate in the opening phase and improve participant anonymity, the privacy of data transmission, and data reliability and verifiability. Moreover, compared with other electronic voting and bidding systems, our systems are safer and more efficient.
Highlights
In areas such as the financial and banking service industries, private information is transmitted through a trusted third party
We did not transfer payments from vendors to the bank or download the tender document; rather, bidding documents were encrypted and stored in the Smart contract (SC) to enable all participants involved in the bid to confirm, and compute the bid price in the opening phase
This study aimed to design a distributed E-voting and E-bidding system that is different from the currently-used electronic system, which still employs a trusted third party, by replacing the third party with an SC, which has public and transparent properties
Summary
In areas such as the financial and banking service industries, private information is transmitted through a trusted third party. This process involves many problems and complicated procedures. Users may want to know if the trusted party is really honest or their sensitive information is safely protected. In 2010, Dolev et al showed how multi-users trust each other without the help of trusted authority [1]. Their scheme significantly reduced the number of message exchanges, and it is more suitable for real environments. Many studies on multi-party computation have been proposed in the past decade [2,3]
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