Codex Enables Secure Offline Micropayments

Offline Micropayments without Trusted Hardware

We introduce a new micropayment scheme, suitable for certain kinds of transactions, that requires neither online transactions nor trusted hardware for either the payer or payee. Each payer is periodically issued certified credentials that encode the type of transactions and circumstances under which payment can be guaranteed. A risk management strategy, taking into account the payers’ history, ...

NetCents: A Lightweight Protocol for Secure Micropayments

NetCents is a lightweight, flexible and secure protocol for electronic commerce over the Internet that is designed to support purchases ranging in value from a fraction of a penny and up. NetCents differs from previous protocols in several respects: NetCents uses (vendor-independent) floating scrips as signed containers of electronic currency, passed from vendor to vendor. This allows NetCents ...

Secure offline legitimation systems

rganizing the interdependencies within and between communities is one of the ongoing challenges of mankind. Once organizations are formed, companies run their businesses, and a legal system is in place, there is an urgent need for procedures to perform legally binding transactions. This in turn brings up the need for unforgeable documents or tokens of legitimation. Traditional examples are lett...

Micropayments Revisited

Peppercoin Micropayments

We present the “Peppercoin” method for processing micropayments efficiently. With this method, a fraction of the micropayments received are determined, via a procedure known as “cryptographic selection,” to qualify for upgrade to a macropayment. The merchant deposits the upgraded micropayments as macropayments, and merely logs locally the non-qualifying micropayments. In this manner, the mercha...