-----BEGIN PGP SIGNED MESSAGE----- In Applied Cryptography, Schneier describes digital cash protocols that depend on the cut and choose method: Alice prepares 100 anonymous money orders for $100, sends them all to the bank, which opens all the envelopes except one picked at random. If the 99 envelopes checked have money orders for $100, then the bank is confident that the one they sign blindly will be for $100 as well. Chaum's system uses different keys for different denominations. Alice only sends one envelope, and the bank uses its $100 key to sign it. I don't understand why anyone would use the cut and choose protocol over denominated keys. Chaum's method seems a lot cleaner to me and more secure. It obviously uses less bandwidth. What am I missing here? == Alex Strasheim | finger astrashe@nyx.cs.du.edu alex@omaha.com | for my PGP 2.6.1. public key -----BEGIN PGP SIGNATURE----- Version: 2.6.2 iQCVAwUBLudoHxEpP7+baaPtAQFIiwQAsCc/TYI/cgJyGf6AtykBGgu+qJJ+peM6 /IYXnUzrIeFLx54nRjsUOUFYJs6Uu3vu6s2BRbd2/YIJVaY6/kP4HO0zuMhqFn2z 4eddRverUeH59IZgZ+4Va4/rgfn5hRdNSOgNinIyk0aRsa8ulR+cmJdUYqggHgd5 w2dxkAtDSGM= =fzJT -----END PGP SIGNATURE-----