Related papers: FSM Modeling For Off-Blockchain Computation
Many of the problems that arise in the context of blockchains and decentralized finance can be seen as variations on classical problems of distributed computing. The smart contract model proposed here is intended to capture both the…
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…
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 technology enables the execution of collaborative business processes involving untrusted parties without requiring a central authority. Specifically, a process model comprising tasks performed by multiple parties can be…
The rise of smart contract systems such as Ethereum has resulted in a proliferation of blockchain-based decentralized applications including applications that store and manage a wide range of data. Current smart contracts are designed to be…
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…
Blockchain has received increasing attention in academia and industry. However, the increasing transaction volumes and limited on-chain storage underscore scalability as a key challenge hindering the widespread adoption of blockchain.…
Blockchains provide environments where parties can interact transparently and securely peer-to-peer without needing a trusted third party. Parties can trust the integrity and correctness of transactions and the verifiable execution of…
Modern blockchain systems support creation of smart contracts -- stateful programs hosted and executed on a blockchain. Smart contracts hold and transfer significant amounts of digital currency which makes them an attractive target for…
We consider the execution of smart contracts on Bitcoin. There, every contract step corresponds to appending to the blockchain a new transaction that spends the output representing the old contract state, creating a new one for the updated…
An appealing feature of blockchain technology is smart contracts. A smart contract is executable code that runs on top of the blockchain to facilitate, execute and enforce an agreement between untrusted parties without the involvement of a…
Blockchain technology provides a tamper-proof mechanism to execute inter-organizational business processes involving mutually untrusted parties. Existing approaches to blockchain-based process execution are based on code generation. In…
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…
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…
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…
Recently, decentralised (on-blockchain) platforms have emerged to complement centralised (off-blockchain) platforms for the implementation of automated, digital (smart) contracts. However, neither alternative can individually satisfy the…
Blockchain-based distributed computing platforms enable the trusted execution of computation - defined in the form of smart contracts - without trusted agents. Smart contracts are envisioned to have a variety of applications, ranging from…
The hype about Bitcoin has overrated the potential of smart contracts deployed on-blockchains (on-chains) and underrated the potential of smart contracts deployed on-Trusted Third Parties (on-TTPs). As a result, current research and…
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…
Smart contracts are programs stored on a blockchain that run when predetermined conditions are met. However, designing and implementing a smart contract is not trivial since upon deployment on a blockchain, it is no longer possible to…