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PipeNet 1.1 and b-money

I've discovered some attacks against the original PipeNet design. The new
protocol, PipeNet 1.1, should fix the weaknesses. PipeNet 1.1 uses layered
sequence numbers and MACs. This prevents a collusion between a receiver
and a subset of switches from tracing the caller by modifying or swaping
packets and then watching for garbage.

A description of PipeNet 1.1 is available at

Also available there is a description of b-money, a new protocol for
monetary exchange and contract enforcement for pseudonyms. 

Please direct all follow-up discussion of these protocols to cypherpunks.