Security

Design and Evaluation of a New Fair Exchange Protocol Based on an Online TTP

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Executive Summary

Security protocols in e-commerce are required to manage the transactions between buyers and sellers. In order to engage customers in e-commerce, these protocols should be well formulated and secured; they should protect both parties from fraudulent users and subsequently promote the growth of e-commerce. There are some protocols, known as fair exchange protocols, in e-commerce that are designed to guarantee fairness between the customer and the merchant so that neither party gains any advantage over the other. Therefore, in this paper, the authors introduce a new fair exchange protocol for trading products online between a buyer and a seller. The items to be exchanged in this protocol are a digital product and a payment.

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