A new peer-to-peer micropayment protocol based on transferable debt token

Authors:
Sung-Ming Yen;Kuo-Zhe Chiou;Je Zhang;Po-Han Lee
Affiliations:
Laboratory of Cryptography and Information Security, Dept. of Computer Science and Information Engineering, National Central University, Chung-Li, Taiwan R.O.C.;Laboratory of Cryptography and Information Security, Dept. of Computer Science and Information Engineering, National Central University, Chung-Li, Taiwan R.O.C.;Laboratory of Cryptography and Information Security, Dept. of Computer Science and Information Engineering, National Central University, Chung-Li, Taiwan R.O.C.;Laboratory of Cryptography and Information Security, Dept. of Computer Science and Information Engineering, National Central University, Chung-Li, Taiwan R.O.C.
Venue:
Transactions on computational science X
Year:
2010

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Abstract

A peer-to-peer (P2P) micropayment can support practical applications that typical micropayment protocols being difficult to achieve, and has received attention recently. However, existing P2P micropayment schemes, e.g., PPay and OFPPay, may suffer from either computational overhead of frequent digital signature signing and verification, or maintenance overhead of the holder path of P2P micropayment coins. In order to overcome the aforementioned disadvantages, we propose a new P2P micropayment scheme based on the idea of transferable debt token.