[Resource Topic] 2012/010: PayTree: "Amortized Signature" for Flexible Micro-Payments

Welcome to the resource topic for 2012/010

Title:
PayTree: “Amortized Signature” for Flexible Micro-Payments

Authors: Charanjit Jutla, Moti Yung

Abstract:

We present the idea of PayTree, a method to amortize the work of a single signature production and verification among numerous micropayments made from a payer to a set of merchants (under various trust assumptions regarding these merchants). The PayTree scheme is simple yet flexible, can support arbitrary number of payees while using a single signature (unlike PayWord); it is easily extendible dynamically (without the use of further signatures) and has a reasonable computational penalty. It can be viewed as a ``divisible coin’’ mechanism as well.

ePrint: https://eprint.iacr.org/2012/010

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