Multi-party fair exchange protocol

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In cryptography, a multi-party fair exchange protocol is protocol where parties accept to deliver an item if and only if they receive an item in return.[1]


Matthew K. Franklin and Gene Tsudik suggested in 1998[2] the following classification:

  • An n-party single-unit general exchange is a permutation \sigma on \{1...n\}, where each party P_i offers a single unit of commodity K_i to P_{\sigma(i)}, and receives a single unit of commodity K_{\sigma^{-1}(i)} from P_{\sigma^{-1}(i)}.
  • An n-party multi-unit general exchange is a matrix of baskets, where the entry B_{ij} in row i and column j is the basket of goods given by P_i to P_j.

See also[edit]

Secure multi-party computation


  1. ^ Mukhamedov, Aybek; Kremer, Steve; Ritter, Eike. "Analysis of a Multi-Party Fair Exchange Protocol and Formal Proof of Correctness in the Strand Space model". Financial Crypto 2005. 
  2. ^ Franklin, Matthew K.; Tsudik, Gene (1998). "Secure Group Barter: Multi-party Fair Exchange with Semi-trusted Neutral Parties". Lecture Notes in Computer Science, 1465: 90–102.