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27th International Conference on Distributed Computing Systems (ICDCS '07)
Combating Double-Spending Using Cooperative P2P Systems
Toronto, Canada
June 25-June 27
ISBN: 0-7695-2837-3
Ivan Osipkov, University of Minnesota, Minneapolis
Eugene Y. Vasserman, University of Minnesota, Minneapolis
Nicholas Hopper, University of Minnesota, Minneapolis
Yongdae Kim, University of Minnesota, Minneapolis
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 mer- chants, so that the broker cannot link spent coins to the user who withdraws them. A variety of schemes with var- ious security properties have been proposed for this pur- pose, 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 in- troduces 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 prov- ably 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.
Citation:
Ivan Osipkov, Eugene Y. Vasserman, Nicholas Hopper, Yongdae Kim, "Combating Double-Spending Using Cooperative P2P Systems," icdcs, pp.41, 27th International Conference on Distributed Computing Systems (ICDCS '07), 2007
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