Microcash: Efficient Off-Line Small Payments

Chris Pavlovski; Colin Boyd

Paper 2015/635

Microcash: Efficient Off-Line Small Payments

Chris Pavlovski and Colin Boyd

Abstract

An off-line electronic cash scheme is proposed that is suitable for small payments. The approach is innovative, in that each coin may be efficiently verified by the same or different merchants during payment. The scheme relies on a batch signature technique to efficiently sign and verify individually spent coins; coins may also be deposited in batch manner. The scheme outlined differs considerably from conventional micropayments schemes by servicing a number of cash-like properties, such as off-line processing, detection of double spent coins, and ability to spend at different merchants. Additionally, the scheme eliminates a number of processing overheads that are apparent to some existing micropayment schemes.

Metadata

Available format(s): PDF
Category: Cryptographic protocols
Publication info: Published elsewhere. Published in PKC Poster Papers Collection, Third International Workshop on Practice and Theory in Public Key Cryptography, PKC2000, Melbourne, Australia, January 2000.
Keywords: Cryptocurrency
Contact author(s): crisp202 @ yahoo com au
History: 2015-06-30: received
Short URL: https://ia.cr/2015/635
License: CC BY

BibTeX

@misc{cryptoeprint:2015/635,
      author = {Chris Pavlovski and Colin Boyd},
      title = {Microcash: Efficient Off-Line Small Payments},
      howpublished = {Cryptology {ePrint} Archive, Paper 2015/635},
      year = {2015},
      url = {https://eprint.iacr.org/2015/635}
}