A Resilient Micro-payment Infrastructure: an Approach based on Blockchain Technology
Keywords:Blockchain technology, ecommerce, micropayment, recovery from cyber attacks
Micro-payment systems are growing at a rapid pace despite their security weaknesses. Resilient micro-payment infrastructure is a critical asset to digital economy as it helps protecting transactions and extends micro shopping. In this paper, we present a micro payment infrastructure based on blockchain technology that is capable of reducing the complexity of transactions’ verification, reducing losses, and recovering from various cyber attacks. This infrastructure is user trust-aware, in the sense that it builds a trust function capable of providing a real time management of the user’s trust levels based on historic activity and then adapt the level of verification and risk of misconduct. Moreover, three different trust models are developed to provide different estimations of the tokens’ block size to be submitted to the blockchain network for verification and control of the user waiting time. The micropayment infrastructure provides different security services such as authentication, double-spending and double-selling prevention, tokens forging prevention, transaction traceability, and recovery from cyber attack. In addition, its efficiency is improved through the reduction of the verification delay and user waiting time. Finally, a numerical simulation is conducted to assess the performance of the infrastructure.
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