PayTree: "Amortized Signature" for Flexible Micro-Payments

Charanjit Jutla; Moti Yung

Paper 2012/010

PayTree: "Amortized Signature" for Flexible Micro-Payments

Charanjit Jutla and Moti Yung

Abstract

We present the idea of PayTree, a method to amortize the work of a single signature production and verification among numerous micropayments made from a payer to a set of merchants (under various trust assumptions regarding these merchants). The PayTree scheme is simple yet flexible, can support arbitrary number of payees while using a single signature (unlike PayWord); it is easily extendible dynamically (without the use of further signatures) and has a reasonable computational penalty. It can be viewed as a ``divisible coin'' mechanism as well.

Note: This version is slightly different from the one that appeared in the 3rd USENIX Workshop on Electronic Commerce, 1998.

Metadata

Available format(s): PDF
Publication info: Published elsewhere. 3rd USENIX Workshop on Electronic Commerce
Contact author(s): csjutla @ us ibm com
History: 2012-01-10: received
Short URL: https://ia.cr/2012/010
License: CC BY

BibTeX

@misc{cryptoeprint:2012/010,
      author = {Charanjit Jutla and Moti Yung},
      title = {{PayTree}: "Amortized Signature" for Flexible Micro-Payments},
      howpublished = {Cryptology {ePrint} Archive, Paper 2012/010},
      year = {2012},
      url = {https://eprint.iacr.org/2012/010}
}