Inter-FSP Funds Transfer Protocol

The present work introduces the first decentralized secure funds transfer protocol with multiple participants. The protocol guarantees that a participant only loses money if a trusted peer happens to be corrupt. Furthermore, the loss is limited to the amount of credit given to that partner. The protocol supports expiration times for payment orders, and takes into consideration actual network queuing delays. To achieve our goals, we used several models and techniques from the Quality of Service area, to handle delays and avoid the expiration of payment orders. We provide rigorous proofs to the security requirements of the protocol.