A new fair micropayment system based on hash chain

Author

Zongkai, Yang ; Weimin, Lang ; Yunmeng, Tan

Author_Institution

E.I. -Huazhong Univ. of Sci. & Technol., Wuhan, China

fYear

2004

fDate

28-31 March 2004

Firstpage

139

Lastpage

145

Abstract

Micropayment systems in existence usually do not provide fairness, which means that either the customer or the merchant, or both, can cheat each other and gain a financial advantage by misbehaving in the protocols. We propose a new fair micropayment system based on hash chain, which is an offline, prepaid system and supports divisibility of digital coins in a simpler way. Moreover, in our system, a hash chain can be used to have transactions with different merchants. Compared with other micropayment schemes, e.g. Pay Word, no public-key operation is required, which improves the efficiency of our system. In addition, restricted anonymous is provided in our system.

Keywords

Internet; cryptography; electronic money; message authentication; transaction processing; Pay Word micropayment system; digital coin divisibility; fair micropayment system; hash chain; merchant transactions; offline prepaid system; public-key operation; restricted anonymous; Consumer electronics; Costs; Cryptography; Electronic commerce; Protection; Protocols; Public key; Spatial databases; Stock markets; Transaction databases;

fLanguage

English

Publisher

ieee

Conference_Titel

e-Technology, e-Commerce and e-Service, 2004. EEE '04. 2004 IEEE International Conference on

Print_ISBN

0-7695-2073-1

Type

conf

DOI

10.1109/EEE.2004.1287300

Filename

1287300