Validation and Verification of Smart Contracts: A Research Agenda

Magazzeni, Daniele; McBurney, Peter; Nash, William L.

doi:10.1109/mc.2017.3571045

Cited by 166 publications

(90 citation statements)

References 10 publications

(8 reference statements)

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Section: Validating Smart Contract Code For Smart Otc Derivativesmentioning

confidence: 99%

“…Many observers have pointed to the need for verification and validation of smart contract code [1,7,9,11]. In particular, [11] highlights five categories of verification and validation for smart contracts. Here we focus on just one of those categories, which we find to be especially problematic -Category 2 "Does the computer program correctly encode the written natural language contract?"…”

Section: Validating Smart Contract Code For Smart Otc Derivativesmentioning

confidence: 99%

“…The phrase "the date of the information" may according to context refer to the date of sending or receiving information, both of which are actions. 11 Defined events may or may not occur during the performance of the agreement. Events also have other associated properties -e.g.…”

Section: Temporal Aspects Of Events Obligations and Rightsmentioning

confidence: 99%

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Temporal Aspects of Smart Contracts for Financial Derivatives

Clack

Vanca

2018

Lecture Notes in Computer Science

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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 performance of these contracts must be enforceable in law and there is an absolute requirement that the smart contract will be faithful to the intentions of the parties as expressed in the original legal documentation. Formal methods provide an attractive route for validation and assurance, and here we present early results from an investigation of the semantics of industry-standard legal documentation for OTC derivatives. We explain the need for a formal representation that combines temporal, deontic and operational aspects, and focus on the requirements for the temporal aspects as derived from the legal text. The relevance of this work extends beyond OTC derivatives and is applicable to understanding the temporal semantics of a wide range of legal documentation.

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Section: Validating Smart Contract Code For Smart Otc Derivativesmentioning

confidence: 99%

Section: Validating Smart Contract Code For Smart Otc Derivativesmentioning

confidence: 99%

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Temporal Aspects of Smart Contracts for Financial Derivatives

Clack

Vanca

2018

Lecture Notes in Computer Science

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“…▫ Challenges in validating and verifying smart contracts (SM) are recognized in [1], considering that SM may encode legal contracts written in natural language. The current paper addresses these challenges in Section II, and proposes a contract codification model along with a method for automated SM management, validation, and verification, enforced through the blockchain.…”

Section: Imentioning

confidence: 99%

“…These keys are derived from _ _ ⁄ using the algorithm from Eqs. (1)(2)(3)(4)(5)(6)(7)(8)(9)(10). The generator values in this algorithm are now based on information about entries in the (worldwide) DHT exchange repository of entities underplaying smart contracts.…”

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confidence: 99%

Sustainable blockchain-enabled services: Smart contracts

Wright

Serguieva

2017

2017 IEEE International Conference on Big Data (Big Data)

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This chapter contributes to evolving the versatility and complexity of blockchain-enabled services through extending the functionality of blockchain-enforced smart contracts. The contributions include: (i) a method for automated management of contracts with hierarchical conditionality structures through an hierarchy of intelligent agents and the use of hierarchical cryptographic key-pairs; (ii) a method for efficient and secure matching and transfer of smartcontract underlyings (entities) among disparate smart contracts/subcontracts; (iii) a method for producing an hierarchy of common secrets to facilitate hierarchical communication channels of increased security in the context of smart contracts/subcontracts/underlyings; and (iv) a method for building secure and optimized repositories through distributed hash tables in the context of contracts/ subcontracts/underlyings. These methods help providing services that allow both narrower and worldwide reach and distribution of resources. The longevity of the blockchain technology is achieved through continuous innovation. Blockchain-enabled services are potentially an efficient, secure, automated, and cost-effective alternative or complement to current service infrastructures in a range of domains (legal, medical, financial, government, IoT).Keywords-hierarchical smart-contract conditionality, hierarchical cryptographic/encription keys, transferring smartcontract underlyings, sustainable blockchain-enabled services. I.▫ Challenges in validating and verifying smart contracts (SM) are recognized in [1], considering that SM may encode legal contracts written in natural language. The current paper addresses these challenges in Section II, and proposes a contract codification model along with a method for automated SM management, validation, and verification, enforced through the blockchain.

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Artificial intelligence and blockchain: A review

Hussain¹,

Al‐Turjman²

2021

Trans Emerging Tel Tech

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It is irrefutable that blockchain and artificial intelligence (AI) paradigms are spreading at an incredible rate. The two paradigms have distinctive level of innovative nature and multidimensional business propositions. Blockchain innovation can robotize instalments to grant a way for exchanging personal records, information, and logs in a secure, and decentralized manner and can be revealed digitally in the digital currency era. As of late, blockchain and AI are two of the most trending technologies. Blockchain can administer connections among members with no mediator via smart contracts. AI, then, offers insight and dynamic capacities for machines just like people. In this survey, we provide a comprehensive overview about the applications of AI in blockchain. We audit, and sum up the rise of blockchain applications, and stages explicitly focusing on the AI research area. We likewise recognize and summarize open challenges in using blockchain and AI techniques. We also classify the effect of the cloud with these two innovations with respect to the computerized economy, which includes Blockchain as a Cloud and Blockchain as a Service. We moreover survey difficulties and issues identified while provisioning these technologies. It has been found that the integration of AI and blockchain is trusted to make various prospects. Such techniques provide scientists and authorities with an accuracy of up to 90% when taken properly into consideration.

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Validation and Verification of Smart Contracts: A Research Agenda

Cited by 166 publications

References 10 publications

Temporal Aspects of Smart Contracts for Financial Derivatives

Temporal Aspects of Smart Contracts for Financial Derivatives

Sustainable blockchain-enabled services: Smart contracts

Artificial intelligence and blockchain: A review

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