Abstract
We study the problem of preventing double spending in electronic payment schemes in a distributed fashion. This problem occurs, for instance, when the spending of electronic coins needs to be controlled by a large collection of nodes (e.g., in a peer-to-peer (P2P) system) instead of one central bank. Contrary to the commonly held belief that this is fundamentally impossible, we propose several solutions that do achieve a reasonable level of double spending prevention, and analyse their efficiency under varying assumptions.
This research is/was partially supported by the research program Sentinels (www.sentinels.nl), project JASON (NIT.6677). Sentinels is being financed by Technology Foundation STW, the Netherlands Organization for Scientific Research (NWO), and the Dutch Ministry of Economic Affairs.
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Hoepman, JH. (2010). Distributed Double Spending Prevention. In: Christianson, B., Crispo, B., Malcolm, J.A., Roe, M. (eds) Security Protocols. Security Protocols 2007. Lecture Notes in Computer Science, vol 5964. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-17773-6_19
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DOI: https://doi.org/10.1007/978-3-642-17773-6_19
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