Multiple Denominations in E-cash with Compact Transaction Data

We present a new construction of divisible e-cash that makes use of 1) a new generation method of the binary tree of keys; 2) a new way of using bounded accumulators. The transaction data sent to the merchant has a constant number of bits while spending a monetary value 2l. Moreover, the spending protocol does not require complex zero-knowledge proofs of knowledge such as proofs about double discrete logarithms. We then propose the first strongly anonymous scheme with standard unforgeability requirement and realistic generation parameters while improving the efficiency of the spending phase.

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