A New Fair Micropayment System Based on Hash Chain

Authors:
Yang Zongkai;Lang Weimin;Tan Yunmeng
Affiliations:
-;-;-
Venue:
EEE '04 Proceedings of the 2004 IEEE International Conference on e-Technology, e-Commerce and e-Service (EEE'04)
Year:
2004

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Abstract

Micropayment systems in existence usually donot provide fairness, which means that either thecustomer or the merchant, or both, can cheat eachother and gain a financial advantage bymisbehaving in the protocols. This paper proposesa new fair micropayment system based on hashchain, which is an off-line, prepaid system andsupports divisibility of digital coins in a simplerway. Moreover, in our system, a hash chain can beused to have transactions with different merchants.Compared with other micropayment schemes, e.g.PayWord, no public-key operation is required,which improves the efficiency of our system. Inaddition, restricted anonymous is provided in oursystem.