Related papers: The Smart Contract Model
The development of blockchain technologies has enabled the trustless execution of so-called smart contracts, i.e. programs that regulate the exchange of assets (e.g., cryptocurrency) between users. In a decentralized blockchain, the state…
Blockchains are maintained by a network of participants that run algorithms designed to maintain collectively a distributed machine tolerant to Byzantine attacks. From the point of view of users, blockchains provide the illusion of…
Modern distributed data management systems face a new challenge: how can autonomous, mutually-distrusting parties cooperate safely and effectively? Addressing this challenge brings up questions familiar from classical distributed systems:…
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…
Blockchain-based smart contract has become a growing field in the blockchain technology. What was once a technology used to solve digital transaction issues turns out to have some wider usage, including smart contract. The development of…
A smart contract is a digital program of transaction protocol (rules of contract) based on the consensus architecture of blockchain. Smart contracts with Blockchain are modern technologies that have gained enormous attention in scientific…
Smart contracts are computer programs that can be consistently executed by a network of mutually distrusting nodes, without the arbitration of a trusted authority. Because of their resilience to tampering, smart contracts are appealing in…
We put forward the idea that classical blockchains and smart contracts are potentially useful primitives not only for classical cryptography, but for quantum cryptography as well. Abstractly, a smart contract is a functionality that allows…
A blockchain-based smart contract or a "smart contract" for short, is a computer program intended to digitally facilitate the negotiation or contractual terms directly between users when certain conditions are met. With the advance in…
The main problem faced by smart contract platforms is the amount of time and computational power required to reach consensus. In a classical blockchain model, each operation is in fact performed by each node, both to update the status and…
In this paper we discuss how conventional business contracts can be converted into smart contracts---their electronic equivalents that can be used to systematically monitor and enforce contractual rights, obligations and prohibitions at run…
Smart contract technology is reshaping conventional industry and business processes. Being embedded in blockchains, smart contracts enable the contractual terms of an agreement to be enforced automatically without the intervention of a…
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…
Blockchain systems have received much attention and promise to revolutionize many services. Yet, despite their popularity, current blockchain systems exist in isolation, that is, they cannot share information. While interoperability is…
Blockchain benefits are due to immutability, replication, and storage-and-execution of smart contracts on the blockchain. However, the benefits come at increased costs due to the blockchain size and execution. We address three fundamental…
We put forward the idea that classical blockchains and smart contracts are potentially useful primitives not only for classical cryptography, but for quantum cryptography as well. Abstractly, a smart contract is a functionality that allows…
The problem of a single point of failure in centralized systems poses a great challenge to the stability of such systems. Meanwhile, the tamperability of data within centralized systems makes users reluctant to trust and use centralized…
Blockchains are decentralized systems that provide trustable execution guarantees. Smart contracts are programs written in specialized programming languages running on blockchains that govern how tokens and cryptocurrency are sent and…
Research on blockchains addresses multiple issues, with one being writing smart contracts. In our previous research we described methodology and a tool to generate, in automated fashion, smart contracts from BPMN models. The generated smart…
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,…