Micropayment model based on P2P systems

Current P2P micropayment protocols face processing bottleneck and lack a load balance mechanism. A micro-payment protocol, CPay, was developed based on the unique characteristics of P2P systems with a dynamic consistent hashing map between the set of all peers in the system and its subset of high performance peers. In each transaction, the payer's corresponding high performance peer checks the transaction to provide timely detection of illegal use of e-coins. The protocol effectively exploits the heterogeneity of the P2P system to achieve load balancing. A stochastic Petri net model of CPay showed CPay has lower latency and higher throughput than previous methods.