In a cyclic group with generator , participants with secret exponents can exchange tokens around a ring. Token starts at and is successively exponentiated by its next recipients before being sent to the final recipient, whose exponent is the only one missing. That recipient completes the exponentiation locally. Each token makes transmissions, and everyone obtains . Thus transmitted group elements suffice. As with two-party Diffie-Hellman key exchange, authentication is needed.

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