Multi-Party Electronic Contract Signing Protocol Based on Blockchain

With the development of Internet technology, the demand for signing electronic contracts has been greatly increased. The electronic contract generated by the participants in an online way enjoys the same legal effect as paper contract. The fairness is the key issue in jointly signing electronic contracts by the involved participants, so that all participants can either get the same copy of the contract or nothing. Most existing solutions only focus on the fairness of electronic contract generation between two participants, where the digital signature can effectively guarantee the fairness of the exchange of electronic contracts and becomes the conventional technology in designing the contract signing protocol. In this paper, an efficient blockchain-based multi-party electronic contract signing (MECS) protocol is presented, which not only offers the fairness of electronic contract generation for multiple participants, but also allows each participant to aggregate validate the signed copy of others. Security analysis shows that the proposed MECS protocol enjoys unforgeability, non-repudiation and fairness of electronic contracts, and performance analysis demonstrates the high efficiency of our construction.