Peppercoin

Peppercoin

Peppercoin is a cryptographic system for processing micropayments. Peppercoin Inc. was a company that offers services based on the peppercoin method.

The peppercoin system was developed by Silvio Micali and Ron Rivest and first presented at the RSA Conference in 2002 [S. Micali and R. L. Rivest. " [http://citeseer.ist.psu.edu/micali02micropayments.html Micropayments revisited] ." In B. Preneel, editor,Proc. Cryptography Track at RSA Conference 2002, pages 149–263. Springer,2002. Lecture Notes in Computer Science No. 2271.] (although it had not yet been named.) The core idea is to bill one randomly selected transaction a lump sum of money rather than bill each transaction a small amount. It uses "universal aggregation", which means that it aggregates transactions over users, merchants as well as payment service providers. The random selection is cryptographically secure -- it cannot be influenced by any of the parties. It is claimed to reduce the transaction cost per dollar from 27 cents to "well below 10 cents." [ [http://www.peppercoin.com/press/pressreleases/2003/0929.shtml 2003 press release] ]

Peppercoin, Inc. was a privately held company founded in late 2001 by Micali and Rivest based in Waltham, MA. It has secured about $15M in venture capital in two rounds of funding. [ [http://www.peppercoin.com/company/history.shtml Company history] ] [http://www.thealarmclock.com/mt/archives/2007/04/micropayments_p.html Micro-payment's Peppercoin Bought Out] ] Its services have seen modest adoption. [ [http://masshightech.bizjournals.com/masshightech/stories/2005/03/28/daily9.html Peppercoin picked by Wurld Media for P2P payment system] ] [ [http://boston.bizjournals.com/boston/stories/2006/07/24/story10.html Peppercoin scoops up customer for loyalty program] ] Peppercoin collects 5-9% of transaction cost from the merchant. [ [http://www.educause.edu/elements/attachments/rfi/rfi_2/Peppercoin_summary.pdf Peppercoin, Inc. Response to the Request for Information By the Joint Committee of the Higher Education and Entertainment Communities Technology Task Force] ] Peppercoin, Inc. was bought out in 2007 by Chockstone for an undisclosed amount.

References


Wikimedia Foundation. 2010.

Игры ⚽ Поможем решить контрольную работу

Look at other dictionaries:

  • Ron Rivest — Infobox Scientist name = Ronald L. Rivest caption = birth date = 1947 birth place = Schenectady, New York death date = death place = ethnicity = residence = United States nationality American field = Cryptography work institution = Massachusetts… …   Wikipedia

  • Silvio Micali — Infobox Scientist name = Silvio Micali image width = caption = birth date = 1954 birth place = Palermo, Italy death date = death place = residence = citizenship = United States nationality = ethnicity = field = Computer Science, Cryptography work …   Wikipedia

  • Gubb — is a Web based list application that requires no downloaded software. With gubb, users can create, manage and share an unlimited number of lists. gubb also offers a fully functional mobile Web application [http://www.gubb.net/m] . gubb was… …   Wikipedia

  • EPaiement — Paiement sur Internet Le paiement sur Internet désigne les moyens de paiement mis en œuvre pour payer sur Internet. Outre la carte de paiement classique, on trouve aussi des moyens plus spécifiques comme les transactions entre particuliers (C2C) …   Wikipédia en Français

  • Paiement en ligne — Paiement sur Internet Le paiement sur Internet désigne les moyens de paiement mis en œuvre pour payer sur Internet. Outre la carte de paiement classique, on trouve aussi des moyens plus spécifiques comme les transactions entre particuliers (C2C) …   Wikipédia en Français

  • Paiement sur Internet — Le paiement sur Internet désigne les moyens de paiement mis en œuvre pour payer sur Internet. Outre la carte de paiement classique, on trouve aussi des moyens plus spécifiques comme les transactions entre particuliers (C2C). Le commerce… …   Wikipédia en Français

  • Paiement sur internet — Le paiement sur Internet désigne les moyens de paiement mis en œuvre pour payer sur Internet. Outre la carte de paiement classique, on trouve aussi des moyens plus spécifiques comme les transactions entre particuliers (C2C). Le commerce… …   Wikipédia en Français

  • Solution de paiement sur Internet — Paiement sur Internet Le paiement sur Internet désigne les moyens de paiement mis en œuvre pour payer sur Internet. Outre la carte de paiement classique, on trouve aussi des moyens plus spécifiques comme les transactions entre particuliers (C2C) …   Wikipédia en Français

  • Райвест — Рональд Л. Ривест Ronald L. Rivest Дата рождения: 1947(1947) Место рождения: Скенектади, Нью Йорк Гражданство …   Википедия

  • Райвест, Рональд — Рональд Л. Ривест Ronald L. Rivest Дата рождения: 1947(1947) Место рождения: Скенектади, Нью Йорк Гражданство …   Википедия

Share the article and excerpts

Direct link
… Do a right-click on the link above
and select “Copy Link”