## Cryptology ePrint Archive: Report 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.

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Publication Info: 3rd USENIX Workshop on Electronic Commerce