Micro-Payments via Efficient Coin-Flipping
Richard J. Lipton, Rafail Ostrovsky
Abstract: We present a novel authenticated coin-flipping protocol with both low communication complexity requirements and very efficient computational requirements. We demonstrate the applicability of our scheme to efficient on-line randomized micro-payment scheme, suitable for sub-penny world-wide web transactions.
We also review essential aspects of other existing micro-payment proposals (including SET, PayWord and MicroMint, PayTree, NetCheque, NetCash, Agora, NetCard, CAFE, Pederson's proposal, micro-iKP, Milicent, proposal of Jarecki-Odlyzko, proposal of Yacobi, SVP, DigiCash, Rivest's ``Lottery tickets as Micro-Cash'' and Wheeler's proposal) and compare it with our scheme.
comment: Appeared In Proceedings of Second Financial Cryptography Conference, (FINANCIAL CRYPTO-98) February 1998. Lecture Notes in Computer Science LNCS volume 1465
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