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Trusted Third Parties Are Security Holes Nick Szabo's Papers and Concise Tutorials Trusted Third Parties Are Security Holes Copyright (c) 2001, 2004, 2005 by Nick Szabo Introduction Commercial security is a matter of solving the practical problems of business relationships such as privacy, integrity, protecting property, or detecting breach of contract. If the risks and costs of TTP institutional alternatives were not accounted for in the protocol design, the resulting protocol will in most cases be too costly or risky to be practical. As a result, we propose a security protocol design methodology whereby the most risky and expensive part(s) of a security protocol, the trusted third partie(s), are designed in parallel with security protocol(s) using those parties. New Trusted Third Parties are Costly and Risky This author has professional experience implementing a TTP that was assumed by early advocates of public key cryptography. Some more problems with CAs are dealt with here. Existing Trusted Third Parties are Valuable Conclusion