Efficient Verifiable Escrow and Fair Exchange with Trusted Hardware

Abstract

At the heart of many fair exchange problems is verifiable escrow: a sender encrypts some value using the public key of a trusted party (called the recovery agent), and then must convince the receiver of the ciphertext that the corresponding plaintext satisfies some property (e.g., it contains the sender’s signature on a contract). Previous solutions to this problem are interactive, and often rely on communication-intensive cut-and-choose zero-knowledge proofs. In this paper, we provide a solution that uses generic trusted hardware to create an efficient, non-interactive verifiable escrow scheme. Our solution allows the protocol to use a set of recovery agents with a threshold access structure, the verifiable group escrow notion which was informally introduced by Camenisch and Damgard and which is formalized here. Finally, this paper shows how this new non-interactive verifiable escrow scheme can be used to create an efficient optimistic protocol for fair exchange of signatures.