In an electronic cash scheme, there are three participants, the bank, the spender and the merchant. First, a spender opens an account in a bank. Then, he withdraws electronic cash from his account and pays it to a merchant. After checking the electronic cash's validity, the merchant accepts it and deposits it to the bank. There are a number of requirements for an electronic cash scheme, such as, anonymity, unforgeability, unreusability, date attachability, divisibility, transferability and portability. In this paper, we show a recently proposed electronic cash scheme is suffering from some faults in anonymity, expiration date and merchant frauds. To improve the scheme, we propose a new untraceable off-line electronic cash scheme and give a security analysis for it.
432Copyright ⓒ 2016 SERSC requirements, such as, anonymity, unreusability and date attachability. However, Baseri, et al.,[14] showed that Eslami and Talebi"s scheme is subjected to some weaknesses in perceptibility of double spender, unforgeability and date attachability. Baseri, et al., also contributed an electronic cash scheme and claimed that their scheme is immune to the weaknesses of Eslami and Talebi"s scheme. But, as we show in this paper, Baseri, et al.,"s scheme is suffering from some faults in anonymity, expiration date and merchant frauds. To improve Baseri, et al.,"s scheme, we also propose a new untraceable off-line electronic cash scheme. The new scheme not only possesses the features, such as anonymity, unforgeability, unreusability, but also possesses the feature of avoiding merchant frauds.The remainder of this paper is organized as follows. Some basic concepts are introduced in Section 2. In Section 3, we review Baseri, et al.,"s scheme and show its weaknesses. In Section 4 we propose a new electronic cash scheme. Security analysis of our scheme is covered in Section 5. Performance comparisons are shown in Section 6. We finally conclude in Section 7.