Admin: Created page with "'''Peppercoin''' is a cryptographic system for processing micropayments. '''Peppercoin Inc.''' was a company that offers services based on the peppercoin..."

2019-03-18T03:56:44Z

Created page with "'''Peppercoin''' is a cryptographic system for processing micropayments. '''Peppercoin Inc.''' was a company that offers services based on the peppercoin..."

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'''Peppercoin''' is a [[cryptography|cryptographic]] system for processing [[micropayment]]s. '''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 (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 provider]]s. 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."

Peppercoin, Inc. was a privately held company founded in late 2001 by Micali and Rivest based in [[Waltham, Massachusetts|Waltham, MA]]. It has secured about $15M in venture capital in two rounds of funding. Its services have seen modest adoption. Peppercoin collects 5-9% of transaction cost from the merchant. Peppercoin, Inc. was bought out in 2007 by Chockstone for an undisclosed amount.<ref name="alarm" />

==Source==

[http://wikipedia.org/ http://wikipedia.org/]
[[Category:Companies]]
[[Category:Payment systems]]
[[Category:Financial services]]

Peppercoin - Revision history

Admin: Created page with "'''Peppercoin''' is a cryptographic system for processing micropayments. '''Peppercoin Inc.''' was a company that offers services based on the peppercoin..."