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September 2016

Digital cash and anonymous fair-exchange payment protocols

Sponsored by ComputerWeekly.com

This article in our Royal Holloway Security Series sketches a protocol that ensures fairness as well as anonymity in Bitcoin transactions

Table Of Contents

  • Unlike in traditional POS transactions, e-commerce transactions are carried out in a virtual environment. Parties to the transaction do not see each other physically.
  • This raises concerns of fair-exchange, particularly when virtual currencies such as Bitcoin are used, as the payments are anonymous and irreversible. It is vital to restore fairness in anonymous e-commerce transactions.
  • In this article we sketch a protocol that ensures fairness as well as anonymity in Bitcoin transactions.