A Protocol for Untraceable Electronic Cash

  • Authors:
  • Hua Wang;Yanchun Zhang

  • Affiliations:
  • -;-

  • Venue:
  • WAIM '00 Proceedings of the First International Conference on Web-Age Information Management
  • Year:
  • 2000

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Abstract

In this paper we develop a new protocol for untraceable electronic cash, in which the bank involvement in the payment transaction between a user and a receiver is eliminated. The user withdraws electronic "coins" from the bank and uses them to pay to a receiver. The receiver subsequently deposits the coins back to the bank. In the process the user remains anonymous, unless she spends a single coin more than once (double spend). The security of the system is based on DLA (Discrete Logarithm Assumption) and the cut-and-choose methodology.