Abstract
A novel formal method which can be used to analyze security properties such as accountability, fairness and timeliness in electronic payment protocols is proposed. The novel method extends Qing-Zhou approach based on logic reasoning by adding a simple time expression and analysis method. It increases the ability to describe the event time, and extends the time characteristics of the logical inference rules. An anonymous electronic cash payment protocol is analyzed by the novel logic, and the result shows that the fairness of the protocol is not satisfied due to the timeliness problem in protocol. The novel logic method proposed in this paper has a certain theoretical and practical significance for the design and formal analysis of electronic payment protocols. At the same time, its idea has a certain guiding value for improving the security of other security protocols.
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