Research and analysis of electronic cash payment system

Abstract

A variety of on-line businesses are rapidly emerging over the Internet, which is believed to be one of the most efficient ways to provide all electronic services. An electronic and secure electronic cash (“e-cash” in short) system plays an important role to support these businesses safely as a trustful payment over the Internet. We describe the problems faced by previous e-cash system. Based on these problems, we will propose a new electronic cash model based on bilinear pairings. The security of the new system is under the computational Diffie-Hellman problem in the random oracle model. Analysis showed that the proposed model is superior to the related system in the area of electronic cash's security, anonymity, unforgeability, communication round, and computational cost.