There is certaily no need for an extra connection from the merchant back to the customer. See draft-eastlake-internet-payment-00.txt. Donald (not on cybpherpunks) On Thu, 9 Nov 1995, Robert Hettinga wrote:
--- begin forwarded text
Date: Wed, 8 Nov 1995 21:08:51 -0800 From: Hal <hfinney@shell.portal.com> To: cypherpunks@toad.com Subject: Re: ecash speed Sender: owner-cypherpunks@toad.com Precedence: bulk
"Perry E. Metzger" <perry@piermont.com> writes:
Hal writes:
The point is that if the anonymity afforded by ecash is too costly in terms of time, then we may end up stuck with a non-anonymous system simply because that is the only one efficient enough to work. It would be good to find out if that is a serious problem.
I suspect that as CPU speed exponentiates this will become less and less of a problem. It doesn't especially worry me.
Consider, though, what happens in the current ecash system if it were used to charge a penny per page. You would click on a link in your web browser to go to the new page. It would set the GET request to the remote server as usual.
The server would fire up a CGI script which will run the shop software. That software will make a TCP stream connection back to your ecash wallet software which is running on the system where your client is. It sends a request to get payed $.01. Assuming the wallet is configured to automatically approve such a payment, it will send a one penny coin to the shop software along the opened link. (This may also involve doing a PK encryption on the coin as an anti-theft measure; this aspect of the current ecash system is not documented AFAIK.)
The shop software then opens a TCP stream connection to the bank, and forwards the coin there. The bank receives it, and checks the public key signature in the coin. It then compares the coin against every other coin which has ever been spent (within the validity period of the coin) to make sure it is not being doubly spent. If this all checks out it sends back some authentication message to the original server. The shop software then delivers the new page to the client browser.
This all has to happen whenever you click on a link in your browser. Even with fast CPU's I think the extra step of connecting to the bank, having it check against all coins, and getting approval will be considerable for each link traversal.
Hal --- end forwarded text
----------------- Robert Hettinga (rah@shipwright.com) Shipwright Development Corporation, 44 Farquhar Street, Boston, MA 02131 USA (617) 323-7923 "Reality is not optional." --Thomas Sowell
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