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 -party single-unit general exchange is a permutation on , where each party offers a single unit of commodity to , and receives a single unit of commodity from .
  • An -party multi-unit general exchange is a matrix of baskets, where the entry in row and column is the basket of goods given by to .

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.