Analysis of a multi-party fair exchange protocol and formal proof of correctness in the strand space model

Authors:
Aybek Mukhamedov;Steve Kremer;Eike Ritter
Affiliations:
School of Computer Science, University of Birmingham, UK;Laboratoire Spécification et Vérification, CNRS UMR 8643 & INRIA Futurs projet SECSI & ENS Cachan, France;School of Computer Science, University of Birmingham, UK
Venue:
FC'05 Proceedings of the 9th international conference on Financial Cryptography and Data Security
Year:
2005

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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 González 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.