Multi-agent Privacy-Preserving Micro-payment Verification for Offline Resource-Constrained Devices Using Smart Contracts

Mostafa Chegenizadeh (), Sina Rafati Niya () and Claudio J. Tessone ()
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Mostafa Chegenizadeh: University of Zurich
Sina Rafati Niya: University of Zurich
Claudio J. Tessone: University of Zurich

Chapter Chapter 7 in Mathematical Research for Blockchain Economy, 2024, pp 129-144 from Springer

Abstract: Abstract This paper presents a novel micro-payment verification scheme for offline, resource-constrained devices, enabling transaction validation on smart contracts in environments with limited resources and connectivity. Our scheme enhances blockchain technology for micro-payments through a token-based approach supporting features like double spend prevention, privacy preservation, and distributed validation, which allows any user to serve as a validator agent. The scheme also ensures transaction traceability and optimizes performance efficiency by employing online-offline encryption techniques. Crucially, we prove the security of our proposed scheme under the DBDH assumption within the random oracle model. This work paves the way for broader applications of blockchain in diverse scenarios, offering new possibilities in digital transactions where internet access and resources are constrained.

Keywords: Micro-payment verification; Resource-constrained devices; Smart contract; Blockchain (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1007/978-3-031-68974-1_7

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