Distributed Double Spending Prevention

Details Distributed Double Spending Prevention Distributed Double Spending Prevention

2008-02-06

arxiv.org/abs/0802.0832v1

Computer Science

Cryptography and Security

15th Int. Workshop on Security Protocols, 2007 (to appear)

Scientific paper

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 (eg. 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.

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