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Multi-agent Privacy-Preserving Micro-payment Verification for Offline Resource-Constrained Devices Using Smart Contracts

In: Mathematical Research for Blockchain Economy

Author

Listed:
  • Mostafa Chegenizadeh

    (University of Zurich
    University of Zurich)

  • Sina Rafati Niya

    (University of Zurich
    University of Zurich)

  • Claudio J. Tessone

    (University of Zurich
    University of Zurich)

Abstract

This paper presents a novel micro-payment verification scheme for offline, resource-constrained devices, enabling transaction validation on smart contracts in environments with limited resources and connectivity. Our scheme enhances blockchain technology for micro-payments through a token-based approach supporting features like double spend prevention, privacy preservation, and distributed validation, which allows any user to serve as a validator agent. The scheme also ensures transaction traceability and optimizes performance efficiency by employing online-offline encryption techniques. Crucially, we prove the security of our proposed scheme under the DBDH assumption within the random oracle model. This work paves the way for broader applications of blockchain in diverse scenarios, offering new possibilities in digital transactions where internet access and resources are constrained.

Suggested Citation

  • Mostafa Chegenizadeh & Sina Rafati Niya & Claudio J. Tessone, 2024. "Multi-agent Privacy-Preserving Micro-payment Verification for Offline Resource-Constrained Devices Using Smart Contracts," Lecture Notes in Operations Research, in: Stefanos Leonardos & Elise Alfieri & William J. Knottenbelt & Panos Pardalos (ed.), Mathematical Research for Blockchain Economy, chapter 0, pages 129-144, Springer.
    • Handle: RePEc:spr:lnopch:978-3-031-68974-1_7
    DOI: 10.1007/978-3-031-68974-1_7
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