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The oldest known version of this page was edited on 2007-11-12 16:30:53 by PennyPostAdmin

What is a Pricing Function

A pricing function is a function of the form y=f(x) or a relation R such that pair (x,y) satisfies it, with the property that it is moderately hard (but not intractable) to compute, yet easy to verify.

The formal definition given by Cynthia Dwork and Moni Naor in their paper "Pricing via Processing or Combatting Junk Mail" is reproduced below:

A function f is a pricing function if:

A difference parameter can be used to make the function harder to compute for the sender.

HashCash and MBound are pricing functions.

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