How to Exchange Secrets by OT

Abstract

A fair exchange protocol enable two parties to exchange secrets with fairness, so that neither can gain any information advantage by quitting prematurely or otherwise misbehaving. Therefore a fair exchange is the most important for electronic transactions between untrusted parties. To design new fair exchange, after describing basic concepts, definitions and existing protocols and designing a non-interactive OT protocol using ELGamal's public key system, I will design new protocol to support fair exchange. In my designed new protocol, untrusted parties exchange secrets obliviously and verify that their received secrets are true by using transformed Zero Knowledge Interactive Proof extended to duplex. At this time, concerned two parties can't decrypt the other's ciphertext. After all of the steps, two parties can do it. It is the most important to provide perfect fairness and anonymity to untrusted parties in this protocol.