"Emerging economic P2P applications share the common need for an efficient, secure payment mechanism. In this paper, we present PPay, a micropayment system that exploits unique characteristics of P2P systems to maximize efficiency while maintaining security properties. We show how the basic PPay protocol far out performs existing micropayment schemes, while guaranteeing that all coin fraud is detectable, traceable and unprofitable. We also present and analyze several extensions to PPay that further improve efficiency."
I wouldn't normally bother with a micropayments scheme, as the economics are generally woeful. This design would be in the same basket of microeggs ("even if they hatch, they ain't worth counting") as it has a fairly impractical hack in it to achieve scaleability where other micropayment schemes allegedly fall short (!!).
Ricardo does much better, as it scales down to all known applications, as well as up. But, there is one aspect in there that Ricardo afficionados will recognise, and, dare I say it, drool over, so I'm adding FTR ("for the record").Posted by iang at March 19, 2004 07:02 AM | TrackBack