Contract Coin: Toward Practical Contract Signing on Blockchain

Tian, Haibo; He, Jiejie; Fu, Liqing

doi:10.1007/978-3-319-72359-4_3

Cited by 16 publications

(11 citation statements)

References 33 publications

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“…The decentralized consensus mechanism ensures the permanence and tamper-resistance of data on the blockchain. Consequently, blockchain provides a trusted execution environment for smart contracts, enabling their deployment across diverse domains such as the IoT [50], finance [51] and healthcare [52].…”

Section: Ethereum Blockchain and Smart Contractsmentioning

confidence: 99%

Blockchain-based decentralized storage scheme with verifiable fair payment for smart cities

Zhou,

Zhang

2024

Preprint

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In smart cities, Internet of Things (IoT) technology can enable intelligence in various fields such as urban transportation, energy, environment, and security. While a large number of terminals collect data to bring efficiency and convenience, the problem of data security is becoming increasingly severe. Although existing centralized cloud services can provide powerful computing and storage resources, they also present risks such as data congestion, single points of failure, and privacy leakage. In order to address the above challenges, this paper proposes a blockchain-based decentralized storage management scheme for IoT data in smart cities scenario to improve data storage security. The scheme uses a non-interactive verification mechanism, combined with smart contracts, to realize automatic data verification. Set rewards and penalties to ensure fairness in IoT data storage transactions. The security analysis shows that the data verification mechanism proposed in this paper can effectively mitigate multiple attacks. We deploy smart contracts on the Ethereum platform and conduct experimental evaluations, then write smart contracts on the chain and test the Gas consumption of the contracts. We also evaluate the time efficiency of the algorithms off the chain, and the experimental results prove the practicality of the proposed scheme.

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Section: Ethereum Blockchain and Smart Contractsmentioning

confidence: 99%

Blockchain-based decentralized storage scheme with verifiable fair payment for smart cities

Zhou,

Zhang

2024

Preprint

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“…The first observation is that 7 [59,[62][63][64]67,70,71] of the 14 articles did not even mention a timeliness requirement. We find this surprising because, unlike other requirements that are optional (such as the confidentiality requirement), the timeliness requirement should be met by any proposal of contract signing.…”

Section: Related Workmentioning

confidence: 99%

A Hard-Timeliness Blockchain-Based Contract Signing Protocol

Ferrer-Gomila,

Hinarejos

2023

Computers

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In this article, we present the first proposal for contract signing based on blockchain that meets the requirements of fairness, hard-timeliness, and bc-optimism. The proposal, thanks to the use of blockchain, does not require the use of trusted third parties (TTPs), thus avoiding a point of failure and the problem of signatories having to agree on a TTP that is trusted by both. The presented protocol is fair because it is designed such that no honest signatory can be placed at a disadvantage. It meets the hard-timeliness requirement because both signatories can end the execution of the protocol at any time they wish. Finally, the proposal is bc-optimistic because blockchain functions are only executed in case of exception (and not in each execution of the protocol), with consequent savings when working with public blockchains. No previous proposal simultaneously met these three requirements. In addition to the above, this article clarifies the concept of timeliness, which previously has been defined in a confusing way (starting with the authors who used the term for the first time). We conducted a security review that allowed us to verify that our proposal meets the desired requirements. Furthermore, we provide the specifications of a smart contract designed for the Ethereum blockchain family and verified the economic feasibility of the proposal, ensuring it can be aligned with the financial requirements of different scenarios.

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“…Reference [15] presented a protocol for signing contracts in PDF format. Although the authors highlighted this fact of the format, it turns out to be quite irrelevant in the design of their protocol (contracts could also be signed in any other format, such as XML).…”

Section: Related Workmentioning

confidence: 99%

A Multi-Party Contract Signing Solution Based on Blockchain

Ferrer-Gomila

Hinarejos

2021

Electronics

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Fair digital signature of contracts and agreements is an essential process in any electronic commerce scenario, and therefore also in data marketplaces, where the relationships and agreements among the different parties (consumers and providers) are more dynamic. In multi-party contract signing, N parties wish to sign a contract in a such a way that either all signatories obtain evidence of the signing or none obtains conflicting evidence regarding the honest signatories; the exchange must be fair. In this paper, we propose a blockchain-based multi-party contract signing protocol. This solution does not require the existence or potential intervention of a trusted third party (TTP), thus avoiding the difficulty of N signatories agreeing upon a TTP. In addition, this proposal meets the necessary requirements: fairness, timeliness, non-repudiation of origin, and non-repudiation of receipt. Furthermore, confidentiality can be easily achieved. To minimize costs associated with the use of blockchain, it should be invoked in the case of exception (analogous to optimistic solutions with a TTP) and by only one of the N signatories. However, when the use of blockchain is required, we show that its cost is within perfectly manageable margins.

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Contract Coin: Toward Practical Contract Signing on Blockchain

Cited by 16 publications

References 33 publications

Blockchain-based decentralized storage scheme with verifiable fair payment for smart cities

Blockchain-based decentralized storage scheme with verifiable fair payment for smart cities

A Hard-Timeliness Blockchain-Based Contract Signing Protocol

A Multi-Party Contract Signing Solution Based on Blockchain

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