Related papers: Smart Contract Templates: foundations, design land…
Nowadays, sophisticated domains are emerging which require appropriate formalisms to be specified accurately in order to reason about them. One such domain is constituted of smart contracts that have emerged in cyber physical systems as a…
Implementing smart contracts to automate the performance of high-value over-the-counter (OTC) financial derivatives is a formidable challenge. Due to the regulatory framework and the scale of financial risk if a contract were to go wrong,…
The industrial market continuously needs reliable solutions to secure autonomous systems. Especially as these systems become more complex and interconnected, reliable security solutions are becoming increasingly important. One promising…
Smart contracts manage blockchain assets and embody business processes. However, mainstream smart contract programming languages such as Solidity lack explicit notions of roles, action dependencies, and time. Instead, these concepts are…
Smart contracts are appealing because they are self-executing business agreements between parties with the predefined and immutable obligations and rights. However, as with all software, smart contracts may contain vulnerabilities because…
The blockchain constitutes a technology-based, rather than social or regulation based, means to lower uncertainty about one another in order to exchange value. However, its use may very well also lead to increased complexity resulting from…
Smart contracts can implement and automate parts of legal contracts, but ensuring their legal compliance remains challenging. Existing approaches such as formal specification, verification, and model-based development require expertise in…
In an increasingly complex contractual landscape, the demand for transparency, security, and efficiency has intensified. Blockchain technology, with its decentralized and immutable nature, addresses these challenges by reducing intermediary…
We propose a formal approach for specifying and implementing decentralised coordination in distributed systems, with a focus on smart contracts. Our model captures dynamic roles, data-driven transitions, and external coordination…
Smart contracts are regarded as one of the most promising and appealing notions in blockchain technology. Their self-enforcing and event-driven features make some online activities possible without a trusted third party. Nevertheless,…
We examine blockchain technologies, especially smart contracts, as a platform for decentralized applications. By providing a basis for consensus, blockchain promises to upend business models that presuppose a central authority. However,…
Smart contracts with external data are crucial for functionality but pose security and reliability concerns. Statistical and quantitative studies on this interaction are scarce. To address this gap, we analyzed 10,500 smart contracts,…
There is a growing interest in running legal contracts on digital systems, at the same time, it is important to understand to what extent software contracts may capture legal content. We then undertake a foundational study of legal…
Smart contracts are programs that execute transactions involving independent parties and cryptocurrencies. As programs, smart contracts are susceptible to a wide range of errors and vulnerabilities. Such vulnerabilities can result in…
Distributed immutable ledgers, or blockchains, allow the secure digitization of evidential transactions without relying on a trusted third-party. Evidential transactions involve the exchange of any form of physical evidence, such as money,…
Smart contracts are programs that manage digital assets according to a certain protocol, expressing for instance the rules of an auction. Understanding the possible behaviors of a smart contract is difficult, which complicates development,…
Reusable software components need expressive specifications. This paper outlines a rigorous foundation to model-based contracts, a method to equip classes with strong contracts that support accurate design, implementation, and formal…
In this note we describe the application of existing smart contract technologies with the aim to construct a new digital representation of a financial derivative contract. We compare several existing DLT based technologies. We provide a…
A contract is an economic tool used by a principal to incentivize one or more agents to exert effort on her behalf, by defining payments based on observable performance measures. A key challenge addressed by contracts -- known in economics…
We argue that there is a hierarchy of levels describing to that particular level relevant features of reality behind the content and behavior of blockchain and smart contracts in their realistic deployment. Choice, design, audit and legal…