PayWord (Rivest and Shamir)

• Hash-chain based aggregation

• Per chain of 100 purchases at one vendor, customer picks secret S.

  • The financial agent (or a certified customer) signs hash100(S).
  • The customer pays for the purchases withhash99(S), …, hashn(S), …, hash(S), S.

• Vendor presents earliest pre-image to claim funds.

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