Offline e-cash system

Abstract

The e-cash scheme and the digital content transactions are the need of the hour. In the coming years, all these digital transactions will grow tremendously. So, a secure e-cash scheme is of utmost requirement. e-cash scheme, which is untraceable and maintains the security features, make it possible for the customers and the merchants to exchange the e-cash and the merchandise with privacy. So, there is a need to design an e-cash scheme with strong cryptosystem and algorithms in order to facilitate efficient digital transactions. There are two types of e-cash systems: Offine e-cash systems and online e-cash systems. Offine e-cash systems make it possible for the customer to pay the e-coin to the merchant without any involvement of bank. In online schemes, we require the involvement of the bank. The two most fundamental security features associated with offine scheme is the anonymity and the double spending detection. The proposed scheme maintains both the above features along with unforgeability. Besides, the E-coins have their expiration date so that the bank faces no hassles and can manage its database efficiently. This feature also ensures portability as the coins can be transferred to storage devices through the networks.