A Security Multi-Bank E-cash Protocol Based on Smart Card

The security of electronic transaction protocol is an important research towards pushing electronic commerce into practice, but the double-spending problem of off-line system will cause a great loss to the bank. In order to enhance the security of the e-cash system, this paper presents a multi-bank and off-line e-cash protocol based on smart card and describes the protocol in detail. The scheme solves double-spending effectively using two protective methods: the prior restraint of smart card in payment phase and the check of bank in deposit phase. Furthermore, the protocol's efficiency and security are analyzed.