Combating double-spending using cooperative P2P systems

Ivan Osipkov, Eugene Y. Vasserman, Nick Hopper, Kim Yongdae

Research output: Chapter in Book/Report/Conference proceedingConference contribution

18 Scopus citations

Abstract

An electronic cash system allows users to withdraw coins, represented as bit strings, from a bank or broker, and spend those coins anonymously at participating merchants, so that the broker cannot link spent coins to the user who withdraws them. A variety of schemes with various security properties have been proposed for this purpose, but because strings of bits are inherently copyable, they must all deal with the problem of double-spending. In this paper, we present an electronic cash scheme that introduces a new peer-to-peer system architecture to prevent double-spending without requiring an on-line trusted party or tamper-resistant software or hardware. The scheme is easy to implement, computationally efficient, and provably secure. To demonstrate this, we report on a proof-of-concept implementation for Internet vendors along with a detailed complexity analysis and selected security proofs.

Original languageEnglish (US)
Title of host publication27th International Conference on Distributed Computing Systems, ICDCS'07
DOIs
StatePublished - 2007
Event27th International Conference on Distributed Computing Systems, ICDCS'07 - Toronto, ON, Canada
Duration: Jun 25 2007Jun 27 2007

Publication series

NameProceedings - International Conference on Distributed Computing Systems

Other

Other27th International Conference on Distributed Computing Systems, ICDCS'07
CountryCanada
CityToronto, ON
Period6/25/076/27/07

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