Abstract
In the field of modern bidding, electronic bidding leads a new trend of development, convenience and efficiency and other significant advantages effectively promote the reform and innovation of China’s bidding field. Nowadays, most systems require a strong and trusted third party to guarantee the integrity and security of the system. However, with the development of blockchain technology and the rise of privacy protection, researchers has begun to emphasize the core concept of decentralization. This paper introduces a decentralized electronic bidding system based on blockchain and smart contract. The system uses blockchain to replace the traditional database and uses chaincode to process business logic. In data interaction, encryption techniques such as zero-knowledge proof based on graph isomorphism are used to improve privacy protection, which improves the anonymity of participants, the privacy of data transmission, and the traceability and verifiable of data. Compared with other electronic bidding systems, this system is more secure and efficient, and has the nature of anonymous operation, which fully protects the privacy information in the bidding process.
Highlights
In the field of modern bidding, electronic bidding leads a new trend of development, convenience and efficiency and other significant advantages effectively promote the reform and innovation of China’s bidding field
The function of verifying whether the other party is valid Bidding User (Bi) and Ej under the premise of concealing the real identity of the user is realized. This avoids unfair review caused by Bi contacting Ej before bid opening
All the information of each link of bidding is recorded on the blockchain, and only one submission is allowed, so as to achieve the effect of information disclosure, traceability, and non-tampering
Summary
In the field of modern bidding, electronic bidding leads a new trend of development, convenience and efficiency and other significant advantages effectively promote the reform and innovation of China’s bidding field. Blockchain is a decentralized public ledger based on P2P networks, which has attracted wide attention in distributed application systems in recent years. In this technology, a tamper-resistant digital platform for data storage and sharing is realized by applying the chain-block structure and establishing a trusted consensus mechanism to synchronize data changes. The decentralization, traceability and immutability of on-chain information storage makes blockchain a trusted machine with high reliability and security Based on these characteristics, researchers began to analyze the application of blockchain in various fields, such as the Internet of Things, supply chain management, voting system [1,2]. Tendering and bidding is a kind of commodity trading behavior; in simple words, it is an organized selection of excellent transaction ways by the tenderee
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