Accelerated Verifiable Fair Digital Exchange
Authors: 
Prabal Banerjee, Dushyant Behl, Palanivel Kodeswaran, Chaitanya Kumar, Sushmita Ruj, Sayandeep Sen, Dhinakaran VinayagamurthyAuthors Info & Claims
Prabal Banerjee, Dushyant Behl, Palanivel Kodeswaran, Chaitanya Kumar, Sushmita Ruj, Sayandeep Sen, Dhinakaran VinayagamurthyAuthors Info & ClaimsArticle No.: 18, Pages 1 - 24
Abstract
A Fair Digital Exchange is defined as either all or none of the participants achieving a (predetermined) desirable outcome. This work addresses third party mediated systems for digital content where mutually unknown, and hence non-trusting, buyers, sellers and the mediator (third party) take part in an exchange protocol. We address the lack of guaranteed fairness, as defined above, in the existing platforms for this setting. We present TEDX, a decentralized solution for guaranteed three party fair exchange of digital goods with scalability and support for incremental deployment over the existing (non-fair) platforms. TEDX combines carefully crafted message exchanges with incentive schemes designed to deter malicious behavior. TEDX also leverages ideas from blockchain anchored state-channels to provide trusted execution while minimizing the operational overheads of blockchain.
We present the design and a security analysis of TEDX to validate the claimed fairness properties. We also present the details of a prototype implementation of TEDX leveraging Hyperledger Fabric and performance evaluation of the same on a realistic testbed spanning five public cloud zones. Our results indicate that TEDX adds only a minimal overhead of 16% while being 46x faster than a naive blockchain solution, thereby demonstrating that TEDX is scalable.
Appendix
In this section we provide the algorithms used in TEDX, we begin by describing the notations used, next we provide the state channel abstraction used by \(\mathbb {B}\) and \(\mathbb {F}\) in TEDX. We then provide details on the algorithms mentioned in Section 3.
— Notation: Let \(\lambda\) be a security parameter, \(H:\) \(\lbrace 0,1\rbrace ^*\) \(\rightarrow\) \(\lbrace 0,1\rbrace ^\lambda\) be a cryptographically secure hash function, (\(Gen(\lambda)\), \(Enc(k,m)\), \(Dec(k,m)\)) be a IND-CCA secure symmetric encryption scheme and (\(KeyGen(\lambda)\), \(Sign(sk,m)\), \(Verify(pk,m,\sigma)\)) be a public key cryptosystem based secure digital signature scheme. We assume that at bootstrap, each party generates a key pair \((pk,sk)\) using KeyGen. We use \(\mathcal {L}\) to represent the distributed blockchain ledger and \(\mathcal {\zeta }\) to represent a state channel between two parties.
— Conditional Escrow: Algorithm 3, shows a conditional escrow contract, wherein an entity can lock money(amt), for a duration of time(\(\tau\)). Money(IOU) is releasable before \(\tau\) only on successful evaluation of condition cond.
— State Channel: In Algorithm 4 we provide our state channel algorithm providing open, close and settle semantics. In addition to the one’s in Algorithm 4 our state channel supports the following properties (used in subsequent algorithms), (1) \(\mathcal {\zeta }\).Store and \(\mathcal {\zeta }\).Load:- which is the per party local channel storage where each party can save messages, (2) \(\mathcal {\zeta }\).Send and \(\mathcal {\zeta }\).Recv:- using which one party can send a message to the other party involved in the state channel.
— TEDX Algorithms: We provide the detailed algorithms of TEDX exchange protocol as follows - The algorithms used by \(\mathbb {B}\) and \(\mathbb {F}\) in the exchange phases are, (1) Exchange Agreement step (Xchg.1) in Algorithm 5 (2) Out-of-band Enc. Video Transfer step (Xchg.2) in Algorithm 8 (3) Money-Key Exchange (Xchg.3) in Algorithm 6 and (4) Finalization step (Final.1) in Algorithm 8. The algorithms used in Dispute Resolution step (Settle.2) and Penalization are mentioned in Section 3.
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September 2023
197 pages
EISSN:2769-6480
DOI:10.1145/3624969
- Editors:
- Kim-Kwang Raymond Choo,
- Mohammad Hammoudeh
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Publication History
Published: 18 September 2023
Online AM: 12 May 2023
Accepted: 30 March 2023
Revised: 13 February 2023
Received: 13 April 2022
Published in DLT Volume 2, Issue 3
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