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Efficient Anonymous Cash Using the Hash Chain
Sangjin KIM Heekuck OH
IEICE TRANSACTIONS on Communications
Publication Date: 2003/03/01
Print ISSN: 0916-8516
Type of Manuscript: LETTER
Category: Fundamental Theories
electronic cash, hash chain,
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An efficient anonymous cash system based on the hash chain is presented. The new system is debit-based and vendor-independent. It also provides tracing mechanisms to reinforce controls on illegal use. The efficiency of the system results from its capacity to pay variable amounts with no additional cost. A client always makes a single blind signature, independent of the length of the chain. During payment, the client makes a single challenge-and-response or one signature, independent of the amount paid.