Standardizing Smart Contracts

Capocasale, Vittorio; Perboli, Guido

doi:10.1109/access.2022.3202550

Cited by 19 publications

(7 citation statements)

References 64 publications

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“…In recent years, smart contracts ( Capocasale & Perboli, 2022 ) have created the opportunity to transform centralized services into decentralized ones ( Hribernik et al, 2020 ; Serrano, 2022 ). However, such transformations are often experimental, as decentralized paradigms are not yet well-established.…”

Section: Experimental Validation and Discussionmentioning

confidence: 99%

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Capocasale

2024

PeerJ Computer Science

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Consensus algorithms play a crucial role in facilitating decision-making among a group of entities. In certain scenarios, some entities may attempt to hinder the consensus process, necessitating the use of Byzantine fault-tolerant consensus algorithms. Conversely, in scenarios where entities trust each other, more efficient crash fault-tolerant consensus algorithms can be employed. This study proposes an efficient consensus algorithm for an intermediate scenario that is both frequent and underexplored, involving a combination of non-trusting entities and a trusted entity. In particular, this study introduces a novel mining algorithm, based on chameleon hash functions, for the Nakamoto consensus. The resulting algorithm enables the trusted entity to generate tens of thousands blocks per second even on devices with low energy consumption, like personal laptops. This algorithm holds promise for use in centralized systems that require temporary decentralization, such as the creation of central bank digital currencies where service availability is of utmost importance.

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Section: Experimental Validation and Discussionmentioning

confidence: 99%

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Capocasale

2024

PeerJ Computer Science

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“…Wohrer et al [28] show how to move from domain-specific language to smart contract code. On the other hand, Capocasale et al [29] discuss the issue of standardization of smart contracts in a broader context, independent of the field of application. Various formal verification methods are used in efforts to improve smart contracts.…”

Section: Related Workmentioning

confidence: 99%

Smart Contract Design Pattern for Processing Logically Coherent Transaction Types

Górski

2024

Applied Sciences

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Recent research shows that the source code of smart contracts is often cloned. The processing of related types of transactions in blockchain networks results in the implementation of many similar smart contracts. The rules verifying transactions are therefore duplicated many times. The article introduces the AdapT v2.0 smart contract design pattern. The design pattern employs a distinct configuration for each transaction type, and verification rule objects are shared among configurations. The redundancy of logical conditions was eliminated at two levels. Firstly, it is possible to combine similar smart contracts into one. Secondly, a configuration in a smart contract reuses verification rule objects at runtime. As a result, only one object is instantiated for each verification rule. It allows for the effective use of operating memory by the smart contract. The article presents the implementation of the pattern using object-oriented and functional programming mechanisms. Applying the pattern ensures the self-adaptability of a smart contract to any number of transaction types. The performance tests were carried out for various numbers of verification rules in a smart contract and a different number of checked transactions. The obtained evaluation time of 10,000,000 transactions is less than 0.25 s.

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“…1) Savings: Smart contracts offer cost-saving benefits in various ways. Smart contracts eliminate intermediaries and reduce the need for legal fees [96]. Automation enhances operational efficiency by accelerating the execution and settlement processes, resulting in reduced labour costs.…”

Section: Advantages Of Smart Contractmentioning

confidence: 99%

A Comprehensive Analysis of Blockchain Technology and Consensus Protocols Across Multilayered Framework

Rifat Hossain,

Nirob,

Islam

et al. 2024

IEEE Access

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Blockchain, a distributed and digital ledger technology, has the potential to transform several industries from cryptocurrencies to supply chains. However, the complexity of understanding the technology can be a challenge for most people, especially for newcomers. This study paper aims to provide an indepth analysis and review of the different layers including the data, network, consensus, smart contract, and application layers. In this paper, we performed an in-depth analysis and review of the components of each layer. We also tried to simulate different consensus algorithms so a reader can understand which blockchain consensus algorithm can be chosen for a specific application. By reading this paper, a reader can understand the blockchain architecture and choose the right algorithms, languages and protocols for building their own blockchain network. The paper also addresses the challenges and difficulties of building a sustainable and secure blockchain. We believe that the choice of consensus algorithm is the most important thing for sustainability in a blockchain network. We show that some consensus algorithms use much more energy than others, and we suggest that developers choose consensus algorithms that use less energy. This paper is a great resource for anyone who wants to learn more about blockchain architecture and consensus algorithms. It gives a complete review of the subject and talks about the difficulties of making a blockchain that will be secure and sustainable. Researchers, developers, and anyone else interested in the future of blockchain technology will be interested in this study.

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Standardizing Smart Contracts

Cited by 19 publications

References 64 publications

Trapdoor proof of work

Trapdoor proof of work

Smart Contract Design Pattern for Processing Logically Coherent Transaction Types

A Comprehensive Analysis of Blockchain Technology and Consensus Protocols Across Multilayered Framework

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