Security and Atomicity in Electronic Commerce: Model, Protocol and Verification

Popularization and acceptance of electronic commerce mainly depend on the following properties: security, atomicity, privacy and anonymity. There are no electronic commerce protocols appropriate for electronic transactions of physical goods in which three properties are needed: security, atomicity and privacy. An electronic commerce model is suggested in this paper. The model is named ELC which simulates L/C in international trade. Then a secure and atomic electronic commerce protocol is proposed. Finally the protocol is analyzed for its strength and correctness by proving the desired properties using BAN style logic in the presence of an intruder.