Efficient modular multi-party fair exchange protocol with ring architecture model for electronic commerce

Abstract

Existing electronic markets in the open network Internet often show a lack of security and fairness. Therefore, an infrastructure for future electronic markets has to support the realization of different market structures by providing secure and fair services in a transparent way and to allow dynamic changes of market structures. In Electronic commerce (EC), which can be modeled as a sequence of transfers and exchanges of electronic items, fair exchange of values between peers must be guaranteed because not all parties can be fully trusted. As much as the transfer of values must be protected against outside attackers, fair exchange must be preserved for maintaining the integrity of EC. This research focused on enabling multi-party fair exchange between payment and electronically shipped items. The reason for this is the growing importance of EC and the increasing number of applications in this area. Multi-party fair exchange is a problem of substantial practical significance in electronic commerce. Services, payments and goods must be exchanged fairly to ensure the continuing growth of the electronic marketplace. In order to increase the trust that participating parties place in exchange services, it is important to provide precisely the guarantees of different protocols with respect to fairness and efficiency. When this has been done, customers and vendors can select a certain protocol that suits the application or situation needs best. For example, if valuable products are exchanged, both parties will probably favor a protocol that guarantees a strong fairness even if this comes at a higher cost. On the other hand, both parties might be willing to agree on a weak fairness if they simply exchange cheap goods. In this thesis, we shows two studies using modular compositional approach by business process modeling and ring architecture model to solve the shortcomings and to increase the overall efficiency of the exchange process. Modular compositional approach pre...