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PayWord and MicroMint: two simple micropayment schemes (1996)
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| Venue: | CryptoBytes |
| Citations: | 263 - 4 self |
BibTeX
@INPROCEEDINGS{Rivest96paywordand,
author = {Ronald L. Rivest},
title = {PayWord and MicroMint: two simple micropayment schemes},
booktitle = {CryptoBytes},
year = {1996},
pages = {69--87}
}
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Abstract
1 Introduction We present two simple micropayment schemes, "PayWord " and "MicroMint, " for making small purchases over the Internet. We were inspired to work on this problem by DEC's "Millicent " scheme[10]. Surveys of some electronic payment schemes can be found in HallamBaker [6], Schneier[16], and Wayner[18]. Our main goal is to minimize the number of public-key operations required per payment, using hash operations instead whenever possible. As a rough guide, hash functions are about 100 times faster than RSA signature verification, and about 10,000 times faster than RSA signature generation: on a typical workstation, one can sign two messages per second, verify 200 signatures per second, and compute 20,000 hash function values per second.
