A novel fair and efficient divisible E-Cash system based on the schnorr blind signature and non-interactive zero-knowledge proofs is proposed in this paper.In this system

both discrete logarithm and collision-resistance Hash function are used in the computation of divisible E-Cash.It contains the value which defines the security. can only be or be obtained by associated by and

where is able to disclose the users ID when over-spending happened.Moreover

the combination of and can realized owner tracing and coin tracing through the cooperation of B and T more easily.The scheme can also realize overspending tracing and over-deposit user

furthermore

it can limit the power of T

avoid the possibility of the association guilt between B and T.