Overview#

Exchange is generally the act of giving one thing and receiving another thing in return.

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.

Market Exchange#

An Exchange of goods and Services is often called a Transaction and these often take place within a Market

Exchange types#

• Market
• Key-Exchange
• AS Exchange
• Token-exchange
• Decentralized Exchange
• Centralized Exchange
• TGS Exchange
• Local Exchange
• Digital Currency Exchange
• Internet Key Exchange
• Health Information Exchange
• RSA key-exchange
• Client-Server Exchange
• ServerKeyExchange
• ClientKeyExchange

Exchange Telecommunications#

Exchange, in Telecommunications, may be a code that refers to a Central Office Exchange Code

More Information#

There might be more information for this subject on one of the following:

• Barter
• Centralized Exchange
• Market
• Medium of exchange
• Money

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• [#1] - Encyclopedia of Cryptography and Security pp 215–216 - based on information obtained 2022-11-18