Secure Smart Contract Generation Based on Petri Nets

Zupan, Nejc; Kasinathan, Prabhakaran; Cuéllar, Jorge; Sauer, Markus

doi:10.1007/978-981-15-1137-0_4

Cited by 34 publications

(28 citation statements)

References 28 publications

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“…Irrespective of the underlying public or private blockchain infrastructure, any given smart contract might contain vulnerabilities in its bytecode or underlying source which leave it exposed to software exploits and attacks ( c6 ; Righi et al, 2020; Wang et al, 2020; Zupan et al, 2020).…”

Section: Legal and Technical Limitations Of Smart Contractsmentioning

confidence: 99%

Is code law? Current legal and technical adoption issues and remedies for blockchain-enabled smart contracts

Drummer

Neumann

2020

Journal of Information Technology

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Blockchain technology has enabled so-called smart contracts between different parties on a decentralized network. These self-enforceable and self-executable computerized contracts could initiate a fundamental paradigm shift in the understanding and functioning of our legal practices. Opportunities for their application are increasingly understood, and numerous tests of feasibility have been completed. However, only very few use cases have yet been implemented at scale. This article—as the first of its kind—comprehensively analyzes the underlying challenges and locates a key reason for the slow adoption in the discrepancy between legal requirements and IT capabilities. Our work combines a wide range of academic sources and interviews with 30 domain experts from IT, the legal domain and private industry. First, we establish that smart contracts still fall within the boundaries of the general legal framework. We then systematically dissect current shortcomings of smart contracts on three distinct levels, namely, (1) how smart contracts are likely to cause conflicts with existing laws, (2) how smart contracts are intrinsically limited on an individual contract level and (3) how they are impeded by their current technical design. Across those levels, we dissect 20 distinct issues concerning the current implementation of smart contracts for which we derive potential remedies. We further outline implications for policy-makers as well as IT management, and examine how information systems research can play an important role in advancing smart contracts. Finally, we show how managerial and organizational issues might represent an ongoing challenge for the widespread adoption of smart contracts.

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Section: Legal and Technical Limitations Of Smart Contractsmentioning

confidence: 99%

Is code law? Current legal and technical adoption issues and remedies for blockchain-enabled smart contracts

Drummer

Neumann

2020

Journal of Information Technology

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“…A variety of analysis frameworks already exist for the validation and verification of state-transition systems, e.g., BIP and cpntools, etc. Such verification capacities combined with the ability to visually define a state-transition system make this formalism useful for smart contract synthesis [142,143,225].…”

Section: State-transition Systemsmentioning

confidence: 99%

“…The ability to visually define and execute a PN model also helps in synthesizing smart contracts from user inputs. A framework by Zupan et al [225] generates a Solidity smart contract from a model defined as a PN workflow-a subtype of a PN describing business processes. Similar to the discussed PN approaches [72,133], Zupan et al automatically validate the model according to typical properties such as the absence of transitions that can never be executed [72,133,225] or reachability of a final state [225].…”

Section: State-transition Systemsmentioning

confidence: 99%

“…A framework by Zupan et al [225] generates a Solidity smart contract from a model defined as a PN workflow-a subtype of a PN describing business processes. Similar to the discussed PN approaches [72,133], Zupan et al automatically validate the model according to typical properties such as the absence of transitions that can never be executed [72,133,225] or reachability of a final state [225]. Through the visualization and validation of the model and its execution, a correct-by-design smart contract can be generated by a user without prior knowledge of smart-contract programming.…”

Section: State-transition Systemsmentioning

confidence: 99%

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A Survey of Smart Contract Formal Specification and Verification

Tolmach

Lin

et al. 2020

Preprint

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A smart contract is a computer program which allows users to define and execute transactions automatically on top of the blockchain platform. Given the significance of smart contracts in supporting important activities across industry sectors including supply chain, finance, legal and medical services, there is a strong demand for verification and validation techniques. Yet, the vast majority of smart contracts lack any kind of formal specification, which is essential for establishing their correctness. In this survey, we investigate formal models and specifications of smart contracts presented in the literature and present a systematic overview in order to understand the common trends. We also discuss the current approaches used in verifying such property specifications and identify gaps with the hope to recognize promising directions for future work.

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“…Smart contracts are very supported in various fields such as banking, governance, health and especially for education, the perpetrators who use the Smart Contract system on the Blockchain greatly facilitate various jobs in the bookkeeping system, Data storage, and also safeguards in data [10]. Smart contracts can be utilized for the field of education for the validation of academic credits and the issuance of academic degrees [11].…”

Section: Introductionmentioning

confidence: 99%

Smart Contracts to Support the Advancement of Blockchain Technology in the Security Integrity

wati¹

2020

conferenceseries

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The development of technology today is used as a benchmark in the advancement of the industrial world where the development of technology has influenced various aspects in the life of today's society. Smart contracts as one form of blockchain technology that resembles a conventional contract can be used to bind agreements between one party and another. One difference between a smart contract and a conventional contract is the smart contract that is stored in the blockchain. With the presence of smart contracts on the blockchain has become one of the most sought-after technologies, because the number of users is high enough for each transaction within the company. In this case various features of smart contracts applications in various worlds, ranging from financial services, life sciences, energy resources and media voting. Smart contracts still pose a lot of challenges that overwhelm the interaction of some Parties, such as users, developers, and organizations built on smart contracts. Smart contracts are essentially a very effective source of problem solvers, where smart contracts on the blockchain make it easy to maintain data security, and save costs and time. In addition, in the absence of third parties strongly minimizes the fraud that is often done by irresponsible parties, this prevents conflicts between parties. Prone to cases of loss of a document is generated because there is no secure storage media. The advent of smart contracts on the blockchain is expected to be a solution to tackle most of the world's commercial and bureaucratic systems.

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Secure Smart Contract Generation Based on Petri Nets

Cited by 34 publications

References 28 publications

Is code law? Current legal and technical adoption issues and remedies for blockchain-enabled smart contracts

Is code law? Current legal and technical adoption issues and remedies for blockchain-enabled smart contracts

A Survey of Smart Contract Formal Specification and Verification

Smart Contracts to Support the Advancement of Blockchain Technology in the Security Integrity

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