Attacking an asynchronous multi-party contract signing protocol

Contract signing is a fundamental service in doing business. The Internet has facilitated the electronic commerce, and it is necessary to find appropriate mechanisms for contract signing in the digital world. From a designing point of view, digital contract signing is a particular form of electronic fair exchange. Protocols for generic exchange of digital signatures exist. There are also specific protocols for two-party contract signing. Nevertheless, in some applications, a contract may need to be signed by multiple parties. Less research has been done on multi-party contract signing. In this paper, we analyze an optimistic N-party contract signing protocol, and point out its security problem, thus demonstrating further work needs to be done on the design and analysis of secure and optimistic multi-party contract signing protocols.