Fair Exchange to Achieve Atomicity in Payments of High Amounts Using Electronic Cash

Abstract

Payments involving high amounts of money must be extremely secure. Security aspects have to be implemented in the payment system (in this case electronic coins) and in the fair exchange between the coin and the product. A secure payment scheme for high amounts has to provide prevention of forgery, overspending, double spending and robbery. This paper describes a fair exchange protocol that can be used together with a payment system for high amounts. This way, the fair exchange of elements represents the addition of atomicity to the payment system.