A conditional privacy-preserving fair electronic payment scheme based on blockchain without trusted third party

Majid Bayat | Zahra Hatefi | Mahdi R. Alaghband | Negin Hamian | Morteza Pournaghi

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URL :   http://research.shahed.ac.ir/WSR/WebPages/Report/PaperView.aspx?PaperID=159165
Date :  2022/01/12
Publish in :    Journal of Ambient Intelligence and Humanized Computing

Link :  https://link.springer.com/article/10.1007/s12652-021-03672-1
Keywords :Blockchain Electronic payment Anonymity Conditional privacy Traceability ProVerif

Abstract :

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There is an increasing demand for the security of electronic payment systems. The importance of characteristics such as preventing double-spending, tracing malicious users, anonymity and privacy-preserving of users is mandatory for achieving the goals of electronic payment systems. Blockchain technology is useful in solving many problems such as bottlenecks, delays, and operational risks in the financial industry. In this paper, a blockchain-based electronic payment scheme is proposed to protect honest users’ anonymity and privacy with the capability of tracing and punishing malicious users without a need for a trusted server. Accordingly, several algorithms were used, including a fair blind digital signature scheme, a secret sharing scheme, and pseudonyms to maintain anonymity. The proposed scheme has different properties such as traceability, conditional privacy, revocation, etc. In addition, users’ generated pseudonym by pre-computations has made the scheme perform well. Finally, the simulation and comparison indicated the performance and security of this work.