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- W2026857799 abstract "Electronic financial transactions in the US, even those enabled by Bitcoin, have relatively high transaction costs. As a result, it becomes infeasible to make micropayments, i.e. payments that are pennies or fractions of a penny. In order to circumvent the cost of recording all transactions, Wheeler (1996) and Rivest (1997) suggested the notion of a probabilistic payment, that is, one implements payments that have expected value on the order of micro pennies by running an appropriately biased lottery for a larger payment. While there have been quite a few proposed solutions to such lottery-based micropayment schemes, all these solutions rely on a trusted third party to coordinate the transactions; furthermore, to implement these systems in today's economy would require a a global change to how either banks or electronic payment companies (e.g., Visa and Mastercard) handle transactions." @default.
- W2026857799 created "2016-06-24" @default.
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- W2026857799 date "2015-10-12" @default.
- W2026857799 modified "2023-09-26" @default.
- W2026857799 title "Micropayments for Decentralized Currencies" @default.
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- W2026857799 doi "https://doi.org/10.1145/2810103.2813713" @default.
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