Abstract
Emerging e-commerce activity is giving scope for the design of many new protocols, and to gain confidence, these protocol need to be verified for its designed properties. Specifically protocol used in ecommerce transactions needs to be verified for their security properties. Verification of these protocols is done using the formal verification tools. AVISPA is one of the evolving tools used mainly for verifying security properties. A newly designed electronic payment protocol is verified for its correctness and security properties. This paper discusses various formal verification methods and tools. Also it presents the use of AVISPA for verifying the security properties of the newly evolved electronic transaction protocol.
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