Untraceable Electronic Cash

An electronic cash protocol including the steps of using a one-way function f1 (x) to generate an image f1 (x1) from a preimage x1 ; sending the image f1 (x1) in an unblinded form to a second party; and receiving from the second party a note including a digital signature, wherein the note represents a commitment by the second party to credit a predetermined amount of money to a first presenter of the preimage x1 to the second party.

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