Multi-Dimensional Hash Chains and Application to Micropayment Schemes

TL;DR

This paper introduces multi-dimensional hash chains, a new generalization of traditional hash chains, enabling more efficient and secure micropayment schemes with reduced storage and computation costs.

Contribution

The paper proposes multi-dimensional hash chains and demonstrates their application in designing more efficient and secure micropayment schemes, improving upon existing methods.

Findings

Storage-computational complexity of O(logN) per chain element

Two new cash-like micropayment schemes with enhanced efficiency and security

Potential improvements to existing schemes like PayWord using multi-dimensional hash chains

Abstract

One-way hash chains have been used in many micropayment schemes due to their simplicity and efficiency. In this paper we introduce the notion of multi-dimensional hash chains, which is a new generalization of traditional one-way hash chains. We show that this construction has storage-computational complexity of O(logN) per chain element, which is comparable with the best result reported in recent literature. Based on multi-dimensional hash chains, we then propose two cash-like micropayment schemes, which have a number of advantages in terms of efficiency and security. We also point out some possible improvements to PayWord and similar schemes by using multi-dimensional hash chains