SoK: Unraveling Bitcoin Smart Contracts

Atzei, Nicola; Bartoletti, Massimo; Cimoli, Tiziana; Lande, Stefano; Zunino, Roberto

doi:10.1007/978-3-319-89722-6_9

Cited by 53 publications

(41 citation statements)

References 32 publications

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“…Bitcoin adopts a transaction structure with three basic fields: (i) the value to be transferred, (ii) a short script specifying the conditions under which the value can be redeemed (i.e., the Locking Script or Redeem Script [212]) and (iii) a witness field to unlock the previous transaction output. The script locks the transaction until spending conditions are met, i.e., when a witness is provided.…”

Section: A Transaction Creationmentioning

confidence: 99%

A Vademecum on Blockchain Technologies: When, Which, and How

Belotti

Božić

Pujolle

et al. 2019

IEEE Commun. Surv. Tutorials

364

159

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Blockchain is a technology making the shared registry concept from distributed systems a reality for a number of application domains, from the cryptocurrency one to potentially any industrial system requiring decentralized, robust, trusted and automated decision making in a multistakeholder situation. Nevertheless, the actual advantages in using blockchain instead of any other traditional solution (such as centralized databases) are not completely understood to date, or at least there is a strong need for a vademecum guiding designers toward the right decision about when to adopt blockchain or not, which kind of blockchain better meets use-case requirements, and how to use it. In this article we aim at providing the community with such a vademecum, while giving a general presentation of blockchain that goes beyond its usage in Bitcoin and surveying a selection of the vast literature that emerged in the last few years. We draw the key requirements and their evolution when passing from permissionless to permissioned blockchains, presenting the differences between proposed and experimented consensus mechanisms, and describing existing blockchain platforms.

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Section: A Transaction Creationmentioning

confidence: 99%

A Vademecum on Blockchain Technologies: When, Which, and How

Belotti

Božić

Pujolle

et al. 2019

IEEE Commun. Surv. Tutorials

364

159

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“…This category encompasses smart contracts whose business logic is not within the platform. This is the case of Bitcoin: the first BlockChain platform in the world has not been designed to host smart contracts; nevertheless, it is used for many smart contract-based applications (see Atzei et al, 2018). This is made possible by implementing protocols based on cryptographic-message exchange: transactions are registrations of messages; involved parties receive messages, in such a way only involved parties can decipher them, and, consequently, act (see the description of Bitcoin in further sections).…”

Section: Smart Contractsmentioning

confidence: 99%

BlockChain Platforms in Financial Services: Current Perspective

Bringas

Pastor-López

Psaila

2020

Business Systems Research Journal

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BackgroundBlockChain technology was invented to support bitcoin, currently the most popular virtual currency.ObjectivesThe purpose of this paper is to investigate contemporary BlockChain platforms in financial services.Methods/ApproachAn unstructured literature review has been used.ResultsBlockChain in financial services is mostly associated with bitcoin exchange. However, this is a partial view of both BlockChain technology and its possible adoption for financial services: in fact, many BlockChain platforms are now available and many different financial services can be effectively supported by BlockChain platforms, even though they are not based on virtual-money exchange. Furthermore, people are attracted by the concept of smart contract, i.e., a contract that is automatically executed by computer technology, without human intervention.ConclusionsThe contribution of this paper is twofold: first of all, we introduce the four BlockChain platforms that are now most popular, discussing how they support the smart contract concept; second, we identify some typical categories of financial services, matching each of them with the platform that provides the best support for each category.

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“…We are now introducing a toy scripting language for the smart contracts on LC. It shares some similarity with the script language of Bitcoin [ 41 , 42 , 43 ]. Scripts of transactions on LC are logical formulas

which are built from arithmetic expressions e with the following syntax:

…”

Section: Script Language and Smart Contracts For Logicontractmentioning

confidence: 99%

“… It is easier to formally verify a logical contract than to verify a procedural contract. To verify a procedural contract, a common technique is to construct a formal calculus with rigorous semantics and translate the procedural contract to expressions of the formal calculus [ 41 , 47 ]. Since logic by itself is a formal calculus, the verification of logical contracts is relatively easier.…”

Section: Script Language and Smart Contracts For Logicontractmentioning

confidence: 99%

Towards Quantum-Secured Permissioned Blockchain: Signature, Consensus, and Logic

Sun

Sopek²,

Wang

et al. 2019

Entropy

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While Blockchain technology is universally considered as a significant technology for the near future, some of its pillars are under a threat of another thriving technology, Quantum Computing. In this paper, we propose important safeguard measures against this threat by developing a framework of a quantum-secured, permissioned blockchain called Logicontract (LC). LC adopts a digital signature scheme based on Quantum Key Distribution (QKD) mechanisms and a vote-based consensus algorithm to achieve consensus on the blockchain. The main contribution of this paper is in the development of: (1) unconditionally secure signature scheme for LC which makes it immune to the attack of quantum computers; (2) scalable consensus protocol used by LC; (3) logic-based scripting language for the creation of smart contracts on LC; (4) quantum-resistant lottery protocol which illustrates the power and usage of LC.

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SoK: Unraveling Bitcoin Smart Contracts

Cited by 53 publications

References 32 publications

A Vademecum on Blockchain Technologies: When, Which, and How

A Vademecum on Blockchain Technologies: When, Which, and How

BlockChain Platforms in Financial Services: Current Perspective

Towards Quantum-Secured Permissioned Blockchain: Signature, Consensus, and Logic

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