Abstract
All known methods for transferring electronic money have the disadvantages that the number of bits needed to represent the money after each payment increases, and that a payer can recognize his money if he sees it later in the chain of payments (forward traceability). This paper shows that it is impossible to construct an electronic money system providing transferability without the property that the money grows when transferred. Furthermore it is argued that an unlimited powerful user can always recognize his money later. Finally, the lower bounds on the size of transferred electronic money are discussed in terms of secret sharing schemes.
Research done while visiting CWI
Chapter PDF
Similar content being viewed by others
Keywords
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.
References
D. Chaum, A. Fiat, and M. Naor. Untraceable electronic cash. In Advances in Cryptology — proceedings of CRYPTO 88, Lecture Notes in Computer Science, pages 319–327. Springer-Verlag, 1990.
D. Chaum. Blind signatures for untraceable payments. In Advances in Cryptology — proceedings of CRYPTO 82, pages 199–203, 1983.
D. Chaum. Blind signature systems. In Advances in Cryptology — proceedings of CRYPTO 83, 1984.
T. Okamoto and K. Ohta. Disposable zero-knowledge authentication and their applications to untraceable electronic cash. In Advances in Cryptology — proceedings of CRYPTO 89, pages 481–496, 1990.
T. Okamoto and K. Ohta. Universal electronic cash. In J. Feigenbaum, editor, Advances in Cryptology — proceedings of CRYPTO 91, Lecture Notes in Computer Science, pages 324–337. Springer-Verlag, 1992.
Hans van Antwerpen. Electronic cash. Master’s thesis, CWI, 1990.
Dominic Welsh. Codes and Cryptography. Oxford University Press, 1988.
Author information
Authors and Affiliations
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 1993 Springer-Verlag Berlin Heidelberg
About this paper
Cite this paper
Chaum, D., Pedersen, T.P. (1993). Transferred Cash Grows in Size. In: Rueppel, R.A. (eds) Advances in Cryptology — EUROCRYPT’ 92. EUROCRYPT 1992. Lecture Notes in Computer Science, vol 658. Springer, Berlin, Heidelberg. https://doi.org/10.1007/3-540-47555-9_32
Download citation
DOI: https://doi.org/10.1007/3-540-47555-9_32
Published:
Publisher Name: Springer, Berlin, Heidelberg
Print ISBN: 978-3-540-56413-3
Online ISBN: 978-3-540-47555-2
eBook Packages: Springer Book Archive