meteoric: an efficient micro-payment system based on prompt and light -weight cryptographic operations

in this paper we propose a micro-payment scheme called meteoric which has the advantage of involving only ilight weight and prompt cryptographic operations such as hashing and symmetric encryptioninstead of highly computational public key cryptography. our main objective is to devise a scheme that guarantees atomicity and non-repudiation without using public key computation in order to provide the customer and vendors with having a cost -effective efficient and rather safe transaction without concerning that they may be defrauded. not that the two mentioned requirements have not been fulfilled so far but by public key cryptography which imposes a highly computational overhead to the system.

Keywords:

micro-payment , atomicity , non-repudiation , hash chain