Micropayments via Efficient Coin-Flipping

We present an authenticated coin-flipping protocol and its proof of security. We demonstrate the applicability of our scheme for online randomized micro-payment protocols. We also review some essential aspects of other micro-payment proposals (including SET, PayWord and MicroMint, PayTree, NetCheque, NetCash, Agora, NetCard, CAFE, Pederson's proposal, micro-iKP, Milicent, proposal of Jarecki-Odlyzko, proposal of Yacobi, SVP, DigiCash, Rivest's “Lottery tickets as Micro-Cash” and Wheeler's proposal) and compare it with our scheme.

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