TrustAuction: A TEE based Privacy Protection Framework for Auction Contracts

Abstract

Auctions are particularly favored as a means of financial transaction for high-value commodities. The Turing-complete script provided by the Ethereum platform facilitates different types of auctions. However, the transparency of Ethereum may lead to threats to the privacy of financial transactions, which is also the biggest obstacle to the practical application of blockchain. This paper proposes an auction contract privacy protection method named TrustAuction, which protects the transaction data privacy and user identity privacy in the auction process through the Trusted Execution Environment(TEE). Specifically, TEE is used to generate new identities for users in the auction process, and the bids submitted by users using the new identities exist are encrypted outside the TEE.