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!! Fair Exchange Protocol
An exchange [protocol] transmits an item [token] from each participant to each other participant in a group. An exchange [protocol] is called fair, if and only if
- The protocol either ensures that all honest participants receive all items as expected or releases no useful information about any item of any honest party.
- The protocol terminates after a fixed time.
A fair exchange protocol is based on solving the Fair Exchange Problem.
As an example suppose [Alice] and [Bob], who wish to have a [Transaction] (perhaps [cryptographic]) "items" somehow.
However, you run into the Fair Exchange Problem:
* suppose Alice sends her item to Bob
* but Bob then refuses to send his item to Alice.
In that case, it is not a fair exchange: Bob got Alice's item, but Alice got nothing in return.
Fair Exchange Protocols seek to ensure that scenario never happens. Either they both get each other's "item" or they both get nothing.
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* [#1] - [Encyclopedia of Cryptography and Security pp 215–216|https://doi.org/10.1007/0-387-23483-7_155|target='_blank'] - based on information obtained 2022-11-18
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This page (revision-4) was last changed on 29-Nov-2024 16:16 by -jimTop