Single term off-line coins

  • Authors:
  • Niels Ferguson

  • Affiliations:
  • CWI, Amsterdam, The Netherlands

  • Venue:
  • EUROCRYPT '93 Workshop on the theory and application of cryptographic techniques on Advances in cryptology
  • Year:
  • 1994

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Abstract

We present a new construction for off-line electronic coins that is both far more efficient and much simpler than previous systems. Instead of using many terms, each for a single bit of the challenge, our system uses a single term for a large number of possible challenges. The withdrawal protocol does not use a cut-and-choose methodology as with earlier systems, but uses a direct construction.