Abstract: 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 C value which defines the security.C can only be C₁ or be obtained by associated by C₁and C₂, where C₁ 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.