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Cost fairness for blockchain-based two-party exchange protocols

Cost fairness for blockchain-based two-party exchange protocols
Cost fairness for blockchain-based two-party exchange protocols
Blockchains can guarantee fairness during the exchange of digital goods such that in a two-party exchange no one is defrauded by a malicious opponent. While several notions of fairness have been discussed in the literature, they all ignore that damage cannot only be incurred by the malicious failure of the exchange, but also by an unfair allocation of transaction costs. To address this issue we: 1. define the novel concept of cost fairness, which 2. builds on the notion of maximum cost matrices that formalize transaction costs in different combinations of benevolent and malicious behavior. 3. We show how limited notions of cost fairness can be achieved by modifying an existing exchange protocol or using a container protocol. In particular, we also provide 4. a tool that let us predict the maximum cost matrix for a specific protocol execution and, thus, gives trade exchange parties the possibility to weigh not only the value of transaction of exchanged goods but also the associated transaction costs.
Lohr, Matthias
49843a98-30d6-4b5b-99d5-dcc655ecc7d4
Schlosser, Benjamin
3fca3a4e-9dec-465c-a91b-8d1e32239176
Jürjens, Jan
725dbc83-3fd3-4831-8dc1-8b7c7f93ce8a
Staab, Steffen
bf48d51b-bd11-4d58-8e1c-4e6e03b30c49
Lohr, Matthias
49843a98-30d6-4b5b-99d5-dcc655ecc7d4
Schlosser, Benjamin
3fca3a4e-9dec-465c-a91b-8d1e32239176
Jürjens, Jan
725dbc83-3fd3-4831-8dc1-8b7c7f93ce8a
Staab, Steffen
bf48d51b-bd11-4d58-8e1c-4e6e03b30c49

Lohr, Matthias, Schlosser, Benjamin, Jürjens, Jan and Staab, Steffen (2020) Cost fairness for blockchain-based two-party exchange protocols. 3rd IEEE International Conference on Blockchain., Virtual Event, Rhodes, Greece. 02 - 06 Nov 2020. 8 pp . (In Press)

Record type: Conference or Workshop Item (Paper)

Abstract

Blockchains can guarantee fairness during the exchange of digital goods such that in a two-party exchange no one is defrauded by a malicious opponent. While several notions of fairness have been discussed in the literature, they all ignore that damage cannot only be incurred by the malicious failure of the exchange, but also by an unfair allocation of transaction costs. To address this issue we: 1. define the novel concept of cost fairness, which 2. builds on the notion of maximum cost matrices that formalize transaction costs in different combinations of benevolent and malicious behavior. 3. We show how limited notions of cost fairness can be achieved by modifying an existing exchange protocol or using a container protocol. In particular, we also provide 4. a tool that let us predict the maximum cost matrix for a specific protocol execution and, thus, gives trade exchange parties the possibility to weigh not only the value of transaction of exchanged goods but also the associated transaction costs.

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More information

Accepted/In Press date: 12 September 2020
Venue - Dates: 3rd IEEE International Conference on Blockchain., Virtual Event, Rhodes, Greece, 2020-11-02 - 2020-11-06

Identifiers

Local EPrints ID: 444901
URI: http://eprints.soton.ac.uk/id/eprint/444901
PURE UUID: f13a2a5a-96ff-46ab-bfc8-e318dc738134
ORCID for Steffen Staab: ORCID iD orcid.org/0000-0002-0780-4154

Catalogue record

Date deposited: 11 Nov 2020 17:30
Last modified: 18 Feb 2021 17:25

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