Analysis of a Multi-party Fair Exchange Protocol and Formal Proof of Correctness in the Strand Space Model

Abstract. A multi-party fair exchange protocol is a cryptographic protocol allowing several parties to exchange commodities in such a way that everyone gives an item away if and only if it receives an item in return. In this paper we discuss a multi-party fair exchange protocol originally proposed by Franklin and Tsudik, and subsequently shown to have flaws and fixed by Gonz´alez and Markowitch. We identify flaws in the fixed version of the protocol, propose a corrected version, and give a formal proof of correctness in the strand space model.

• Type: Conference
• Year: 2005
• Where: FC
• Authors: Aybek Mukhamedov, Steve Kremer, Eike Ritter
• Keywords: Cryptographic Protocol, Fair Exchange Protocol, FC 2005, Multi-party Fair Exchange