Secure and efficient off-line digital money (extended abstract)
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TL;DR
It is shown that off-line coin schemes can be implemented securely and efficiently, where security is proven based on the hardness of the discrete log function and a pre-processing stage, and where efficiency is in a new sense.
Abstract
No off-line electronic coin scheme has yet been proposed which is both provably secure with respect to natural cryptographic assumptions and efficient with respect to reasonable measures. We show that off-line coin schemes can be implemented securely and efficiently, where security is proven based on the hardness of the discrete log function and a pre-processing stage, and where efficiency is in a new sense that we put forth in this work: "a protocol is efficient if its communication complexity is independent of the computational complexity of its participants" (and thus the communication length and number of encryption operations is only a low-degree polynomial of the input).
