Simple and Secure Coin (SAS-Coin)--A Practical Micropayment System

Manjula SANDIRIGAMA  Akihiro SHIMIZU  Matu-Tarow NODA  

IEICE TRANSACTIONS on Fundamentals of Electronics, Communications and Computer Sciences   Vol.E83-A    No.12    pp.2679-2688
Publication Date: 2000/12/25
Online ISSN: 
Print ISSN: 0916-8508
Type of Manuscript: PAPER
Category: Information Security
cryptography,  hash functions,  security,  SAS password authentication,  micropayment schemes,  

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In this paper we propose SAS-Coin, a very practical micro payment scheme based on a hash chain and a simple one time password authentication protocol called SAS. While it has many desirable features of a coin (anonymity etc.), it has no public key operations at any stage and has very little overheads. Moreover authentication is also available and a session key could be generated for encrypted information supply without any additional cost at all. Since there are no public key operations this is extremely useful for mobile telephone applications. This has sufficient security even for larger payments. Comparative analysis with some of the already proposed systems is also done.