Standards and Verification for Fair-Exchange and Atomicity in E-Commerce Transactions
Information Sciences, Vol. 176, pp. 1045-1066, 2006
28 Pages Posted: 14 Feb 2005 Last revised: 25 Aug 2009
Abstract
Electronic commerce can be defined as the conduct of commerce in goods and services, with the assistance of telecommunications and telecommunications-based tools. The economic growth potential of e-commerce is extraordinary - but so are the challenges that lie on the path toward success. One of the more pressing challenges is how to ensure the integrity and reliability of the transaction process: key aspects being fair-exchange and atomicity assurance.
This paper delineates an extended fair-exchange standard, which includes atomicity assurance, intended for a wide audience including e-commerce designers, managers, users, and auditors. We demonstrate how such a standard prevents or mitigates important e-commerce concerns. To bridge theory with practice, we illustrate how the application of model checking can be used to verify the correctness of the implementation of e-commerce protocols to prevent the failure of such protocols when unforeseen circumstances occur.
Keywords: e-Business, e-commerce, protocols, model checking, money atomicity, goods atomicity, valid receipt, standards enforcement
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