Related papers: Logical foundations of Smart Contracts
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…
Formal verification entails testing software to ensure it operates as specified. Smart contracts are self-executing contracts with the terms of the agreement directly written into lines of code. They run on blockchain platforms and…
A smart contract is a computer program which allows users to automate their actions on the blockchain platform. Given the significance of smart contracts in supporting important activities across industry sectors including supply chain,…
Smart contracts are blockchain-based algorithms that execute when specific criteria are satisfied. They are often used to automate the implementation of an agreement so that all parties may be confident of the conclusion right away, without…
Smart contracts codify real-world transactions and automatically execute the terms of the contract when predefined conditions are met. This paper proposes SmartML, a modeling language for smart contracts that is platform independent and…
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 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…
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…
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…
Monitoring the compliance of contract performance against legal obligations is important in order to detect violations, ideally, as soon as they occur. Such monitoring can nowadays be achieved through the use of smart contracts, which…
The paper develops a logical understanding of processes for signature of legal contracts, motivated by applications to legal recognition of smart contracts on blockchain platforms. A number of axioms and rules of inference are developed…
Smart Contracts use computer technology to automate the performance of aspects of commercial agreements. Yet how can there be confidence that the computer code is faithful to the intentions of the parties? To understand the depth and…
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 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…
In this position paper, we consider some foundational topics regarding smart contracts (such as terminology, automation, enforceability, and semantics) and define a smart contract as an automatable and enforceable agreement. We explore a…
Modern mathematics is built on the idea that proofs should be translatable into formal proofs, whose validity is an objective question, decidable by a computer. Yet, in practice, proofs are informal and may omit many details. An agent…
The emerging blockchain technology supports decentralized computing paradigm shift and is a rapidly approaching phenomenon. While blockchain is thought primarily as the basis of Bitcoin, its application has grown far beyond cryptocurrencies…
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…
Blockchain technology enables the execution of collaborative business processes involving mutually untrusted parties. Existing platforms allow such processes to be modeled using high-level notations and compiled into smart contracts that…
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,…