Journal articles: 'Smart contract blockchain technology'

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Lin, Ting, Ziyi Huan, Yongcan Shi, and Xu Yang. "Implementation of a Smart Contract on a Consortium Blockchain for IoT Applications." Sustainability 14, no. 7 (2022): 3921. http://dx.doi.org/10.3390/su14073921.

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Advancements in cryptography and computer science have given birth to blockchain technology. One of the most exciting evolutions of blockchain is the advancements in smart contract technology. Smart contracts can be used for a broad range of use cases, not just financial transactions. Smart contract technology on the public blockchain, represented by Ethereum, due to its public and opaque nature, is not a good choice for many scenarios that do not require full disclosure, such as many IoT applications. On the other hand, the existing blockchain smart contract system still has a strong connection with virtual currency, which also limits its application in non-financial scenarios. In order to solve the above problems and explore more of the potential of smart contracts for the IoT application domain, this paper mainly explores the construction of a smart contract system based on consortium blockchains associated with no virtual currency. Based on the smart contract system designed in this project, blockchain can be more easily applied in payment, product traceability, authority authentication, and other fields. Through a certain centralized way, the system is easier to manage, can reduce the management expenditure, and the power and other resource consumption is less, which is conducive to environmental protection. Results show that our smart contract system has the potential for IoT usage in the future.

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Wiegandt, Dirk. "Blockchain and Smart Contracts and the Role of Arbitration." Journal of International Arbitration 39, Issue 5 (2022): 671–90. http://dx.doi.org/10.54648/joia2022029.

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Blockchain technology is considered one of the most disruptive technologies of our times. At the same time, by means of smart contracts stored on a blockchain, all or parts of an agreement can be executed automatically upon certain triggering events. Some consider that with smart contracts becoming more and more complete and self-executing, we will enter into an era of dispute resolution without the involvement of a neutral third party (conciliator, mediator, arbitrator) or even an entirely dispute-free environment. By contrast, it is submitted that disputes are inevitable. The question is not whether disputes arise, but which means of dispute resolution are best suited to resolve disputes arising in the context of blockchains and smart contracts. While not the only mechanism, it is submitted that arbitration is particularly well-suited for many types of disputes and, if adapted to the specific expectations and needs of (enterprise) users of blockchains and smart contracts, may play a central role in a blockchain and smart contract environment. blockchain technology, smart contracts, distributed ledger technology, decentralization, disintermediation, oracles, automation, artificial intelligence, cryptocurrencies, NFTs, Kleros, digital dispute resolution

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Sekhar, S. R. Mani, Siddesh G M, Swapnil Kalra, and Shaswat Anand. "A Study of Use Cases for Smart Contracts Using Blockchain Technology." International Journal of Information Systems and Social Change 10, no. 2 (2019): 15–34. http://dx.doi.org/10.4018/ijissc.2019040102.

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Blockchain technology is an emerging and rapidly growing technology in the current world scenario. It is a collection of records connected through cryptography. They play a vital role in smart contracts. Smart contracts are present in blockchains which are self-controlled and trustable. It can be integrated across various domains like healthcare, finance, self-sovereign identity, governance, logistics management and home care, etc. The purpose of this article is to analyze the various use cases of smart contracts in different domains and come up with a model which may be used in the future. Subsequently, a detailed description of a smart contract and blockchain is provided. Next, different case-studies related to five different domains is discussed with the help of use case diagrams. Finally, a solution for natural disaster management has been proposed by integrating smart contract, digital identity, policies and blockchain technologies, which can be used effectively for providing relief to victims during times of natural disaster.

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Krajčo, Karol, and Nikolai Siniak. "SMART CONTRACTS AND BUSINESS DECISION." Sociálno-ekonomická revue 21, no. 2 (2023): 34–46. http://dx.doi.org/10.52665/ser20230204.

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In the last 10 years the blockchain technology has become mainstream research topic because of its features that offers, as: decentralized system, peer to peer (P2P) transaction, distributed consensus, and anonymity properties. Also, the blockchain technology overshadows regulatory problem and technical challenges and one of the opportunities that offers the blockchain technology is the 'smart contract'. A smart contract is a set of programs that can be much better from the traditional contracts for some features which are self-verifying, self-executing and tamper resistant. Also, smart contract with the integration of blockchain technology without which cannot function, is capable of doing a task in real time with very low cost and provide a greater degree of high security level. The aim of this paper is to explain the concept of the smart contract and its components and function. The paper is aimed at presenting the issue of smart contract, blockchain technology. The specific focus was on the application of smart contracts in real estate.

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Hashim, Faiza, Khaled Shuaib, and Farag Sallabi. "Connected Blockchain Federations for Sharing Electronic Health Records." Cryptography 6, no. 3 (2022): 47. http://dx.doi.org/10.3390/cryptography6030047.

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With the growing utility of blockchain technology, the desire for reciprocal interactions among different blockchains is growing. However, most operational blockchain networks currently operate in a standalone setting. This fragmentation in the form of isolated blockchains creates interoperability difficulties, inhibiting the adoption of blockchains in various ecosystems. Interoperability is a key factor in the healthcare domain for sharing EHRs of patients registered in independent blockchain networks. Each blockchain network could have its own rules and regulations, obstructing the exchange of EHRs for improving diagnosis and treatments. Examples include patients being treated by healthcare providers in different countries or regions, or within one country but with a different set of rules per state or emirate. By contrast, a federation of blockchain networks can provide better communication and service to stakeholders in healthcare. Thus, solutions for facilitating inter-blockchain communication in such a blockchain federation are needed. However, this possibility has not been fully explored, and further investigations are still being conducted. Hence, the present study proposes a transaction-based smart contract triggering system for inter-blockchain communication, enabling EHR sharing among independent blockchains. We use local and global smart contracts that will be executed once a transaction is created in the blockchain. Local smart contracts are used for EHR sharing within the blockchain, whereas global smart contracts are used for EHR sharing among independent blockchains. The experimental setup is conducted using the Hyperledger Fabric blockchain platform. Inter-blockchain communication between two independent fabric networks is conducted through a global smart contract using Hyperledger Cactus for EHR sharing in a health federation setup. To the best of our knowledge, our study is the first to implement an inter-blockchain communication model in the healthcare domain.

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Shruti, Gatkal, Borole Pornima, Kawale Anushka, and Mahajan Abhijit. "Making Legal Contract Smart Using Blockchain Technology." International Journal of Innovative Science and Research Technology 7, no. 11 (2022): 1707–11. https://doi.org/10.5281/zenodo.7478925.

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Blockchain is a peer-to-peer distributed ledger technology that makes the records of any digital asset transparent and immutable and works without involving a third party. Hence, it is independent of a third party and termed as ‘decentralized’. Blockchain is an emerging technology and is gaining a lot of popularity, as it is scalable and also has the ability to manage risks. Blockchain is transforming the way value is exchanged, it has expanded technical capabilities to achieve a higher level of innovation and developer products. Blockchain is the most recent technology that can be adopted for data security. This paper aims to make any legal contracts, such as agreements, and property registries, as well as other assets in India using blockchain for solving issues like avoiding third parties, brokerage services, trusty transactions, etc. It makes it safer as well as non-repudiable. We are proposing a Web3 system that is providing a platform for both parties to make legal contracts using smart contracts and deploy it on blockchain to make safer contracts by inheriting blockchain properties. A smart contract is a digital contract that automatically executes the terms of an agreement by itself. In layman’s terms, it is a computer code that holds the terms of a contract. It stores in decentralized, distributed public blockchain networks that contracting parties can access from anywhere and at any time. With these designs, this digital type of contract runs on blockchain nodes that cannot be changed. This makes the smart contract legal contracting decentralized, free of brokerage services as well paperless that is digital. This solution demands transparency, participation and cooperation society demands. Hence, would help to obstruct corruption and make government services more efficient.

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Kapsoulis, Nikolaos, Alexandros Psychas, Georgios Palaiokrassas, Achilleas Marinakis, Antonios Litke, and Theodora Varvarigou. "Know Your Customer (KYC) Implementation with Smart Contracts on a Privacy-Oriented Decentralized Architecture." Future Internet 12, no. 2 (2020): 41. http://dx.doi.org/10.3390/fi12020041.

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Enterprise blockchain solutions attempt to solve the crucial matter of user privacy, albeit that blockchain was initially directed towards full transparency. In the context of Know Your Customer (KYC) standardization, a decentralized schema that enables user privacy protection on enterprise blockchains is proposed with two types of developed smart contracts. Through the public KYC smart contract, a user registers and uploads their KYC information to the exploited IPFS storage, actions interpreted in blockchain transactions on the permissioned blockchain of Alastria Network. Furthermore, through the public KYC smart contract, an admin user approves or rejects the validity and expiration date of the initial user’s KYC documents. Inside the private KYC smart contract, CRUD (Create, read, update and delete) operations for the KYC file repository occur. The presented system introduces effectiveness and time efficiency of operations through its schema simplicity and smart integration of the different technology modules and components. This developed scheme focuses on blockchain technology as the most important and critical part of the architecture and tends to accomplish an optimal schema clarity.

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Zulkepli, Muhammad Izzul Syahmi. "Smart Contract Technology Potential in Mitigating Defects of Islamic Banks’ Tawarruq Operations." Islamiyyat 47, no. 1 (2025): 171–81. https://doi.org/10.17576/islamiyyat-2025-4701-14.

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Smart contracts are computer codes that represent contract terms and are designed to run on a blockchain platform, automatically enforced upon receiving predetermined inputs. This technological innovation, a key component of the Fourth Industrial Revolution, provides an advanced and innovative approach to executing contract terms. Incorporating this technology into Shariah-compliant contracts within Islamic Banks (IBs) holds the potential to reduce Shariah non-compliance risk (SNC) and enhance operational transparency, ensuring compatibility with contemporary technological applications. In particular, blockchain-based smart contracts have the potential to be integrated into the operations of IBs’ products that are based on tawarruq contracts. This study aims to investigate the potential application of blockchain-based smart contract technology in tawarruq contract operations within IBs and to suggest directions for future research. This study adopted a qualitative approach, drawing on relevant literature. The findings indicated that blockchain-based smart contracts can address Shariah Non-Compliance (SNC) issues in IB’s tawarruq operations while enhancing transaction transparency. This paper discussed the Shariah and operational challenges associated with blockchain technology and posits that blockchain-based smart contracts can improve the practices of tawarruq contracts within Islamic Banks. This paper offers insights for IB entities and regulatory authorities to evaluate the potential and impact of blockchain-based smart contracts within their operations and the broader financial system.

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Ge, Xianyun. "Smart Payment Contract Mechanism Based on Blockchain Smart Contract Mechanism." Scientific Programming 2021 (December 2, 2021): 1–12. http://dx.doi.org/10.1155/2021/3988070.

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In recent years, blockchain technology has become a hot topic in various industries. With the development and maturity of blockchain technology, it has been applied to finance, law, etc., with its advantages of decentralization, openness, information security, and concealment. The application scenarios of industry are becoming more and more abundant. Compared with the traditional TPA payment contract form, the smart contract mechanism based on blockchain technology is obviously more efficient, convenient, and safe. Against this background, we design a smart payment contract suitable for cloud storage by studying Ethereum. The relationship clause in the smart payment contract should be regulated around the contract law. The smart contract payment linkage clause can be classified into three forms, including conditional effective type, contract joint type, and contract link type, which correspond to the contract law. Therefore, the contract legal system for smart contract payment linkage clauses should follow typified thinking. Based on blockchain technology, smart contracts not only reduce the number of interactions in contract execution but also allow users to stop paying for cloud services when data is lost or damaged. The precise method is to generate each node with a private chain and place the smart contract on the private chain. With the decentralization of the blockchain private chain, the advantages of read-only data, and traceability of information, the storage of smart payment contract data is more secure. Both parties to the transaction are more trustworthy. Therefore, the proposed system has a safe and efficient smart contract payment mechanism, which brings a good user experience to users, which proves the significance and value of this research.

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Pawar, Prof Dipali. "Blockchain Based Crowdfunding Using Ethereum Smart Contract." International Journal for Research in Applied Science and Engineering Technology 11, no. 5 (2023): 6934–39. http://dx.doi.org/10.22214/ijraset.2023.53299.

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Abstract: This research paper explores the emerging field of crowdfunding and its integration with blockchain technology. Crowdfunding has gained significant traction as a viable alternative to traditional funding methods, empowering entrepreneurs and innovators to raise capital directly from the public. However, this fundraising model is not without its limitations, including issues of trust, transparency, and intermediaries' control over the process. In recent years, blockchain technology has emerged as a potential solution to address these challenges. Blockchain's inherent properties of transparency, immutability, and decentralization offer promising opportunities for transforming the crowdfunding landscape. This research paper presents a comprehensive analysis of the benefits and challenges associated with implementing blockchain in crowdfunding. It examines real-world use cases and discusses how blockchain enhances transparency, mitigates fraud risks, reduces transaction costs, and enables global participation. Furthermore, it explores the potential impact of blockchain on crowdfunding ecosystems, including its implications for investors, entrepreneurs, and regulatory frameworks.

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Alboul, Saba mohammed mostafa, and Hayel Abd-alHafeez Yousef Dawood. "Smart Contracts Used in the Blockchain: A Juristic Stud." Dirasat: Shari'a and Law Sciences 49, no. 2 (2022): 70–47. http://dx.doi.org/10.35516/law.v49i2.1510.

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Objectives: The research aims to clarify the ruling on forming smart contracts using the blockchain technology, and the related conditions and pillars of legality. Methods: The researchers used a descriptive approach to describe smart contracts and the pillars on which they are based, an inductive approach by extrapolating the scientific material related to the topic of research from ancient fiqh books, contemporary books, and an analytical approach to clarify the legality of smart contracts using the blockchain, its pillars and related conditions. Results: The study concluded that the concept of smart contracts that are formed using blockchain is a contemporary technological term, and there is no agreement on an overarching definition of it. This is because the technology through which these contracts are formed is constantly evolving. The study also found that blockchain technology is the infrastructure for implementing smart contracts, and it is a special type of decentralized database. It also concluded that the pillars of the smart contract, such as the formulation, the contracting parties, and the subject of the contract are in essence compatible with the pillars of the contract in Islamic jurisprudence. The legality of smart contracts used in the blockchain is determined by the smart contract through which they are made, and the legal ruling for conducting contracts using the blockchain follows the contract that is done through it. The principle in these contracts and the contractual conditions based on them is that they are permissible as long as they do not violate Shari’a when concluding them via blockchain. Conclusions: The researchers recommend examining the possibility of benefiting from blockchain technology in developing financing formulas in Islamic banks.

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TAŞ, Ruhi. "Smart Contract Security Vulnerabilities." Erzincan Üniversitesi Fen Bilimleri Enstitüsü Dergisi 16, no. 1 (2023): 196–211. http://dx.doi.org/10.18185/erzifbed.1105551.

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A smart contract is a concept of computer protocols that helps to facilitate blockchain technology. This blockchain-based smart contract is a public ledger of all participating transactions. It is considered a self-executable application and contains predetermined rules. It also operates by decentralizing networks that are shared between all parties, and this execution of contracts between parties could be securely done without a middleman or a third party. With blockchain technology, developers could provide an efficient framework and ensure security issues. While the new blockchain has successfully been developed to prevent the problems of fraud and hacking, there is still a considerable risk concerning security and confidentiality. Therefore, we should not underestimate this matter. This study aims to review the potential risks that may take place on blockchain-based smart contracts. In addition, the options that may assist application developers in order to provide viable guidance, and to avoiding these security vulnerabilities.

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Athira, A., M. Nizar Arif, DS Diljith, and MS Sujarani. "CHARITY TRACKING SYSTEM USING BLOCKCHAIN TECHNOLOGY." Journal of Advancement in Parallel Computing 7, no. 3 (2024): 1–6. https://doi.org/10.5281/zenodo.12647928.

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The rapid evolution of blockchain technology has paved the way for innovative solutions in various domains, and the charitable sector is no exception. This paper introduces a novel Charity Tracking System (CTS) that leverages blockchain technology to enhance transparency, accountability, and security in the process of charitable donations. Traditional donation systems often face challenges such as lack of transparency, inefficiency, and concerns about fund mismanagement. The proposed system addresses these issues by employing the decentralized and tamper-resistant nature of blockchain. The Charity Tracking System utilizes a permissioned blockchain network to record and verify all transactions related to charitable contributions. Smart contracts are employed to automate and execute predefined rules, ensuring that funds are allocated to intended beneficiaries efficiently and transparently. Donors can track the entire lifecycle of their contributions, from the point of donation to the ultimate utilization by the charity. Smart contracts, self-executing code on the blockchain , can automate predetermined spending rules and ensure funds reach intended recipients. It reduce administrative cost and minimize the risk of fraud

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Ajuwon, Ayodeji, Ademola Adewuyi, Chigozie Regina Nwangele, and Abiola Oyeronke Akintobi. "Blockchain Technology and its Role in Transforming Financial Services: The Future of Smart Contracts in Lending." International Journal of Multidisciplinary Research and Growth Evaluation 2, no. 2 (2021): 319–29. https://doi.org/10.54660/.ijmrge.2021.2.2.319-329.

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Blockchain technology has emerged as a disruptive force in financial services, offering unprecedented transparency, security, and efficiency. This examines the transformative potential of blockchain, with a particular focus on the evolving role of smart contracts in lending processes. Traditional lending systems often suffer from inefficiencies, including lengthy approval times, high operational costs, and lack of transparency, which hinder financial inclusion and increase risks for both lenders and borrowers. Blockchain’s decentralized ledger technology addresses these challenges by enabling secure, immutable, and transparent record-keeping. Smart contracts—self-executing agreements coded onto blockchain platforms—automate contract enforcement and reduce the need for intermediaries. In lending, smart contracts can streamline loan origination, automate repayment schedules, and enforce compliance with predefined terms without manual intervention. This automation decreases transaction costs, accelerates processing times, and mitigates counterparty risks, thereby enhancing overall lending efficiency. Additionally, blockchain’s tamper-proof nature fosters trust among participants by providing a single source of truth accessible to all stakeholders. The integration of blockchain and smart contracts also introduces novel possibilities for credit scoring and risk management by incorporating real-time data feeds and alternative data sources. This can expand lending access to underserved populations traditionally excluded due to lack of formal credit histories. However, challenges such as regulatory uncertainty, scalability constraints, and privacy concerns remain barriers to widespread adoption. This reviews recent advancements in blockchain-based lending platforms, explores use cases demonstrating smart contract applications, and discusses ongoing innovations aimed at overcoming implementation hurdles. It underscores the necessity of developing robust legal frameworks and interoperability standards to fully realize the benefits of smart contracts in lending. Ultimately, blockchain technology, coupled with smart contracts, holds significant promise for revolutionizing financial services by enabling more transparent, efficient, and inclusive lending ecosystems, paving the way for a future where lending is faster, fairer, and more accessible.

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Wati, Sulistiawati. "Smart Contracts to Support the Advancement of Blockchain Technology in the Security Integrity." Conference Series 2, no. 11 (2020): 31–39. http://dx.doi.org/10.34306/conferenceseries.v2i11.331.

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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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Zaazaa, Oualid, and Hanan El Bakkali. "Unveiling the Landscape of Smart Contract Vulnerabilities: A Detailed Examination and Codification of Vulnerabilities in Prominent Blockchains." International journal of Computer Networks & Communications 15, no. 6 (2023): 55–75. http://dx.doi.org/10.5121/ijcnc.2023.15603.

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With the rise in using immature smart contract programming languages to build a decentralized application, more vulnerabilities have been introduced to the Blockchain and were the main reasons behind critical financial losses. Moreover, the immutability of Blockchain technology makes deployed smart contracts unfixable for the whole life of the Blockchain itself. The lack of complete and up-to-date resources that explain those vulnerabilities in detail has also contributed to increasing the number of vulnerabilities in Blockchain. In addition, the lack of a standardized nomination of the existing vulnerabilities has made redundant research and made developers more confused. Therefore, in this paper, we propose the most complete list of smart contract vulnerabilities that exist in the most popular Blockchains with a detailed explanation of each one of them. In addition, we propose a new codification system that facilitates the communication of those vulnerabilities Moreover, the discussed list of vulnerabilities covers multiple Blockchain and could be used for even future built Blockchains.

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Susanto, Betley Heru, Mohamad Noorman Masrek, and Irni Eliana Khairuddin. "Implementation of Smart Contract Technology in Financial Services Institutions." Environment-Behaviour Proceedings Journal 7, SI10 (2022): 249–54. http://dx.doi.org/10.21834/ebpj.v7isi10.4129.

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The popularity of blockchain-based applications has pushed the advancement of a smart contract as an essential part of the blockchain platform. Previous research has validated that smart contracts can facilitate many functions in financial services companies such as banking and insurance. A smart contract is useful to automate the execution of an agreement by initiating steps when a certain circumstance is fulfilled; thus, it can eliminate the role of any middlemen or waste time. This study explores the basic concepts of blockchain-based applications, smart contracts, advantages, challenges, and potential implementation in the financial services industry. Keywords: Blockchain, smart contract, Ethereum, crypto eISSN: 2398-4287 © 2022. The Authors. Published for AMER ABRA cE-Bs by E-International Publishing House, Ltd., UK. This is an open-access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/). Peer-review under the responsibility of AMER (Association of Malaysian Environment-Behavior Researchers), ABRA (Association of Behavioral Researchers on Asians), and cE-Bs (Centre for Environment-Behavior Studies), Faculty of Architecture, Planning & Surveying, Universiti Teknologi MARA, Malaysia.

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Eze, Peter, Tochukwu Eziokwu, and Chinedu Okpara. "A Triplicate Smart Contract Model using Blockchain Technology." Circulation in Computer Science DC CPS 2017, no. 01 (2017): 1–10. http://dx.doi.org/10.22632/ccs-2017-cps-01.

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An emergent use of the blockchain technology is to enable the transfer of digital assets between two parties. An extension to this is the Smart Property in which physical assets could be transferred too. Another extension is the exchange of services of all kinds in form of digitally executed contracts. In this paper, the problems with existing attempts to implement an all-inclusive smart contract platform were identified and a new framework proposed. In this framework, the technical and legal terms of any contract could be executed digitally if prepared with appropriate legal prose and required parameters for each of the terms of the contract. The cores of the framework are the technical, business and legal models, which are connected to each other. The technical model adapts block chain technology while ensuring granularity in implementing the terms of the contract as presented by the legal model using legal prose and necessary parameters. Using the proposed framework, some questions that have persisted with current implementation of Smart contracts that involves the blockchain were answered. The framework improves the efficiency and practicability of using smart contract for physical assets and non-financial services with emphasis. The contribution is mainly on ensuring an adoptable and practicable smart contract platform.

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Cvetković, Predrag. "Liability in the context of blockchain-smart contract nexus: Introductory considerations." Zbornik radova Pravnog fakulteta Nis 59, no. 89 (2020): 83–100. http://dx.doi.org/10.5937/zrpfn0-28637.

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Blockchain technology becomes relevant in economic exchange as it lowers costs and contributes to cost-efficiency and effectiveness of economic transactions. The key quality of Blockchain lies in ensuring the authenticity of digital data: trust in the traditional legal relationship has been replaced by digital verification of data in blocks. As an important phenomenon, Blockchain calls for legal answers on the issues arising from its application. An example of this development is the legal regime of smart contracts. A smart contract is a transaction in which any rights and obligations of the contracting parties are programmed in a code. Being the result of Blockchain technology application, such a contract implies the need for trust between the contracting parties. As a legal phenomenon, Blockchain (smart contract) technology raises the issue of liability for performing contractual obligations. Smart contracts can minimize certain contract risks and additionally simplify contract execution. They are immediately put into effect, without the need for any further interaction between the parties. The essential components of smart contracts are the digitally verifiable data and the automatic performance of legally relevant actions based on digitally received and processed information. All of the enlisted issues are important for proper understanding of liability of Blockchain actors.

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Sun, Tianyu, and Wensheng Yu. "A Formal Verification Framework for Security Issues of Blockchain Smart Contracts." Electronics 9, no. 2 (2020): 255. http://dx.doi.org/10.3390/electronics9020255.

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Blockchain technology has attracted more and more attention from academia and industry recently. Ethereum, which uses blockchain technology, is a distributed computing platform and operating system. Smart contracts are small programs deployed to the Ethereum blockchain for execution. Errors in smart contracts will lead to huge losses. Formal verification can provide a reliable guarantee for the security of blockchain smart contracts. In this paper, the formal method is applied to inspect the security issues of smart contracts. We summarize five kinds of security issues in smart contracts and present formal verification methods for these issues, thus establishing a formal verification framework that can effectively verify the security vulnerabilities of smart contracts. Furthermore, we present a complete formal verification of the Binance Coin (BNB) contract. It shows how to formally verify the above security issues based on the formal verification framework in a specific smart contract. All the proofs are checked formally using the Coq proof assistant in which contract model and specification are formalized. The formal work of this paper has a variety of essential applications, such as the verification of blockchain smart contracts, program verification, and the formal establishment of mathematical and computer theoretical foundations.

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Churilov, Aleksei Yu. "LEGAL REGULATION AND APPLICATION OF BLOCKCHAIN TECHNOLOGY IN THE CIVIL LAW OF THE RUSSIAN FEDERATION." COMPUSOFT: An International Journal of Advanced Computer Technology 09, no. 06 (2020): 3733–42. https://doi.org/10.5281/zenodo.15024758.

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The article is dedicated to the assessment of blockchain technology from the point of view of the prospects of legal regulation and the possibility of using it in business and other activities, considering the legal field of the Russian Federation. The methodological basis of the study is a set of methods of scientific knowledge among which the main place is occupied by the methods of historicism, systematicity and analysis. The paper considers such technical features of blockchain systems that have a direct impact on both current and future legal regulation of relations emerging in connection with the use of blockchain systems. Results: The blockchain technology is examined from the point of view of performing the functions of the payment system and other methods of application such as using distributed information storage, decentralized decision-making as a replacement for traditional contracts. The article presents a study of the views on the legal nature of a smart contract considering changes in civil law. The author examines in detail the nature of a smart contract as an agreement at the three stages of its dynamics: conclusion, execution and violation. The article discusses the features of blockchain technology that predetermine the features of smart contracts and the specifics of their application. Conclusions: The definition of the place of a smart contract in the system of civil law agreements is proposed. A smart contract, taking into account its features is a contractual design and not a contract form, which has the following characteristics: conclusion and existence in exclusively electronic form in the blockchain system; automatic execution of an emerging counter contractual obligation without the need for a separate expression of the will of the parties to the contract; the impossibility of changing the smart contract after it was posted on the blockchain network even by agreement of the parties. The classification of named civil contracts in terms of the possibility of their existence in the form of a smart contract design was carried out. 

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Dugar, Arihant. "Secured Lottery System Using Smart Contract and Blockchain Technology." International Journal for Research in Applied Science and Engineering Technology 10, no. 4 (2022): 2019–21. http://dx.doi.org/10.22214/ijraset.2022.41695.

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Abstract: To create a lottery based smart contract on ethereum blockchain for increasing transparency and reduce frauds in the lottery industry. Once the contract has been deployed by the administrator, there will be a minimum contribution amount for players to register in the game and a price pool will be maintained by the smart contract. The winning process will be structured in a way such that only the administrator's wallet will be authorized to initiate the process to randomly pick an address and the smart contract will by definition transfer the prize to the winner. The contract once deployed on blockchain cannot be changed by the administrator to maintain transparency and fairness. Keywords: Smart contract, lottery system, application of ethereum, blockchain technology.

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Dugar, Arihant. "Secured Lottery System Using Smart Contract and Blockchain Technology." International Journal for Research in Applied Science and Engineering Technology 10, no. 4 (2022): 2019–21. http://dx.doi.org/10.22214/ijraset.2022.41695.

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Abstract: To create a lottery based smart contract on ethereum blockchain for increasing transparency and reduce frauds in the lottery industry. Once the contract has been deployed by the administrator, there will be a minimum contribution amount for players to register in the game and a price pool will be maintained by the smart contract. The winning process will be structured in a way such that only the administrator's wallet will be authorized to initiate the process to randomly pick an address and the smart contract will by definition transfer the prize to the winner. The contract once deployed on blockchain cannot be changed by the administrator to maintain transparency and fairness. Keywords: Smart contract, lottery system, application of ethereum, blockchain technology.

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Литвиненко, Дмитро Петрович, Ольга Володимирівна Малєєва та Аліна Володимирівна Єлізєва. "Блокчейн-технології в управлінні комунікаціями інфраструктурних проектів". RADIOELECTRONIC AND COMPUTER SYSTEMS, № 3 (5 жовтня 2021): 169–81. http://dx.doi.org/10.32620/reks.2021.3.14.

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The subject of research in the article is the processes and technologies of communication management of infrastructural projects. The possibilities of using blockchain technology in the field of project management are considered. The goal of work: improving the information security of infrastructure projects. The risks of stakeholder communications will be reduced by increasing the security of data access and reducing the time for their processing, which in turn will provide more flexible project management. The tasks of the work: to analyze the current state of development of blockchain technology and conduct a comparative analysis of technology and modern generally accepted management methods, give examples of implementation, determine the advantages of blockchain technology in modern conditions; analyze the benefits of using smart contracts in communication management, apply the smart contract life cycle model in an infrastructure project. Research methods: systems analysis, design approach, structural modeling, instrument Geth, programming language Solidity. The following results were obtained. The main directions of development and implementation of blockchain technology are characterized, examples of the use of blockchain technology in various industries are collected and analyzed, the main advantages and disadvantages of the technology are identified, a comparative analysis of blockchain technology and classical project management methods is carried out, the possibilities of using blockchain technology in the field of project management are described, the main the possibility of implementing reasonable contracts, the advantages and disadvantages of reasonable contracts are identified, the advantages and disadvantages of the instrument of reasonable contracts are analyzed in comparison with the traditional approach. The smart contract life cycle model presents the creation stages, installation to the blockchain contract managing, and contract completion. Provided an example of the smart contract used for the complex financial project, which reduced the risk of project failures. Conclusion. The scientific novelty of the obtained results is in the improvement of the project management life cycle model through the further development of the smart contract model. This allows to increase information security, reduce possible risks and guarantee the implementation of an infrastructure project through the use of blockchain technology in comparison with classical project management methods.

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Gottumukkala, Prasanthi, Y. Sri Lalitha, Pancherpula Kalyan, Sumer Singh Ghandhi, Thungaturthi Gopi Puneeth, and Nishesh Sharma. "Sustainably empowered crowdfunding through blockchain-enhanced security technology." E3S Web of Conferences 430 (2023): 01087. http://dx.doi.org/10.1051/e3sconf/202343001087.

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A sustainable crowdfunding smart contract is a specialized type of smart contract that empowers individuals to contribute funds towards a specific work or venture while ensuring ecological and ethical longevity. The smart contract is meticulously programmed to establish the parameters of the crowdfunding campaign, encompassing the total funds requisite for project completion, the quantity of available tokens for acquisition, campaign duration, and token valuation. In alignment with sustainable principles, the contract orchestrates the transparent collection and distribution of funds. It unequivocally designates the blockchain address for fund allocation and delineates how these funds will be equitably apportioned among the project’s development team, thus promoting sustainable practices.Furthermore, the sustainable crowdfunding smart contract features a built-in mechanism to restore funds to contributors in the event that the project fails to achieve its funding target within the stipulated time frame. Upon campaign culmination, the smart contract autonomously dispenses tokens to contributors and allocates funds to the project’s development team, fostering an environment of trust and accountability. This sustainable approach leverages the power of smart contracts to streamline and automate the entire process, assuring contributors that their resources will be judiciously utilized for their intended purpose. A pivotal advantage of this innovative approach lies in the elimination of intermediaries, fostering heightened security for assets through a human-intervention-free programmed process. By combining blockchain technology as the foundational backend and leveraging solidity for smart contract implementation, this sustainable solution exemplifies the pinnacle of accuracy and reliability. Through this seamless integration of technology and sustainability, the paper presents a progressive paradigm in crowdfunding that resonates with environmentally conscious and ethically mindful principles.

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Almahasneh, Younis. "The Legal Nature of Smart Contracts Programmed using Blockchain Technology." International Journal of Law Research and Studies 3, no. 4 (2024): 8–31. http://dx.doi.org/10.59992/ijlrs.2024.v3n4p1.

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The advent of blockchain technology has given rise to a new form of digital agreement known as smart contracts, which are self-executing contracts with the terms of the agreement written directly into code. This paper explores the legal landscape surrounding smart contracts and their unique characteristics in the context of traditional contract law. With the proliferation of blockchain technology, the legal implications of smart contracts have become a topic of increasing interest to legal practitioners, businesses, and policymakers. The paper addresses key aspects such as enforceability, validity, and potential liabilities. The paper addresses the challenges and opportunities presented by smart contracts, aiming to provide clarity and guidance to stakeholders working in this rapidly evolving field. By analyzing case law, regulatory frameworks, and industry practices, this paper seeks to shed light on the legal complexities associated with smart contracts programmed using blockchain technology. A key focus of this research is the enforceability of smart contracts under existing legal frameworks. This includes examining contractual intent, offer and acceptance, consideration, and capacity, and how these traditional contract law principles translate into the world of smart contracts. Furthermore, the paper delves into the potential legal liabilities and dispute resolution mechanisms associated with smart contracts, and provides insights into the evolving landscape of contractual relationships facilitated by blockchain technology. The findings of this research have significant implications for legal practitioners and businesses operating in industries where smart contracts are used. The paper makes recommendations for legislative clarity, standardization of smart contract protocols, risk assessment, regulatory compliance, dispute resolution mechanisms, education and awareness, interdisciplinary collaboration, and the need for ongoing monitoring and adaptation. These recommendations aim to contribute to the ongoing discourse and proactive adaptation of the legal nature of smart contracts, and to foster an environment that balances innovation, legal certainty, and protection.

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Gayathri, N., Mr S. Aswin, Mr A. Shishand, Mr A. T. Sabarigireeson, and Mr J. Dhanuprasath. "SMART CONTRACT FOR NFT MARKETPLACE." INTERANTIONAL JOURNAL OF SCIENTIFIC RESEARCH IN ENGINEERING AND MANAGEMENT 08, no. 12 (2024): 1–6. https://doi.org/10.55041/ijsrem39471.

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This paper explores a blockchain-based approach to redefining digital ownership through Non-Fungible Tokens (NFTs). Phase 1 focused on developing smart contracts on the Ethereum blockchain, minting unique NFTs, and implementing secure transfer mechanisms. These steps ensure transparency, immutability, and decentralized verification of ownership via blockchain hashes, demonstrating the potential of NFTs to revolutionize asset ownership. Looking ahead, Phase 2 will involve designing a user-friendly web interface for an NFT marketplace. This platform will enhance accessibility and engagement by simplifying NFT creation, buying, and selling while integrating features like intuitive design and wallet compatibility. Together, these efforts aim to bridge blockchain technology and mainstream adoption, transforming the landscape of digital ownership. Keywords: Blockchain, NFTs, Smart Contracts, Digital Ownership, Ethereum, NFT Marketplace, Decentralized Verification.

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Watsky, Cy, Matthew Liu, Nolan Ly, et al. "Tokenized Assets on Public Blockchains: How Transparent is the Blockchain?" FEDS Notes, no. 2024-04-03 (April 2024): None. http://dx.doi.org/10.17016/2380-7172.3444.

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With the proliferation of programmable blockchains with smart contract capabilities, new blockchain technology use cases have emerged that involve the tokenization of conventional financial assets and related smart contract-based financial services. While early blockchains like Bitcoin introduced native cryptocurrencies as new asset classes, in recent years, market participants have noted the potential for blockchain and distributed ledger technologies (DLT) to be used to trade tokenized versions of bonds, money funds, and commodities, among other assets (GFMA, 2023, p. 6).

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Zulkepli, Muhammad Izzul Syahmi, Mohammad Taqiuddin Mohamad, and Saaidal Razalli Azzuhri. "LEVERAGING BLOCKCHAIN-BASED SMART CONTRACT IN ISLAMIC FINANCIAL INSTITUTIONS: ISSUE AND RELEVANT SOLUTION." International Journal of Islamic Economics and Finance Research 6, no. 1 (2023): 18–28. http://dx.doi.org/10.53840/ijiefer96.

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A blockchain-based smart contract is a computer script, stored in the blockchain network and enforced automatically based on predetermined terms, decentralised verification as well as fully accessible real-time records to all blockchain users. Smart contract innovation, with a high level of transparency and a lower risk of operational errors, offers a novel approach for more effectively implementing Shariah contracts in Islamic financial institutions. However, the immutable smart contract principle, which disallows the amendment or deletion of the code deployed in the blockchain, appears incompatible with the iḥsān criterion implemented in Islamic financial institutions’ product offerings that allow operations and terms adjustment under certain conditions, including payment rescheduling and contract restructuring facilities in financing products. This study aims to look into the concept of blockchain-based smart contracts, as well as issue related to immutable smart contract and viable solutions that align with Shariah and Islamic banking operations. The study utilised the library research to achieve the objective by referring to related literature. The qualitative data were then descriptively analysed using the conceptual content analysis method. The study’s results found that, in order to comply with the characteristics of iḥsān to implement Shariah contracts using blockchain-based smart contract technology, the programmer should first write flexible code rather than fixed code, and the upgradable proxy contract should be well applied in the creation of the smart contract code.

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Sun, Lichen. "Futures Trading Security Based on Smart Contract Technology." Highlights in Business, Economics and Management 39 (August 8, 2024): 594–99. http://dx.doi.org/10.54097/8trppb18.

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With the development of blockchain technology and the increasing vitality of the world economy, the use of blockchain technology is expanding in the financial field gradually. Among all the financial derivatives, futures with their high-risk, high-return investment pattern have been popular to global investors, but their risks from leverage always lead to a disaster. Currently, there is no reasonable or appropriate safety net measure available to protect investors’ losses within acceptable limits. However, smart contracts at the blockchain contract layer with their properties of security, automation and strict adherence to contract terms, naturally align with the nature of futures trading. Therefore, this paper designs three types of smart contracts in trading access, risk aversion assessment and safety net protection respectively, to provide tailored safeguards for investors while promoting futures trading developing healthily and maintaining investor enthusiasm at the same time.

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Mohamed Saleh, Et al. "Digital Transformation and Smart Property Contracts Registration in Egypt Using Blockchain Technology." International Journal on Recent and Innovation Trends in Computing and Communication 11, no. 9 (2023): 2332–41. http://dx.doi.org/10.17762/ijritcc.v11i9.9241.

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In recent times, an increasing fascination with cryptographic-based blockchain technology has emerged. Blockchain is a decentralized, distributed database functioning as a comprehensive ledger for storing, timestamping, and encrypting data. Comprising interconnected blocks, this technology is openly accessible and immutable. Smart Property Contract registration are self-executing contracts that are subject to the terms of the agreement between the seller and the buyer. The contract defines the pre-programmed contractual rules so that they are executed when the input data meets the mentioned conditions between the two parties. Smart Property Contract Registration are written in one of the programming languages such as AssemblyScript, JavaScript, and Solidity. Blockchain technology and Smart Property Contract Registration can play a vital role in Property and smart cities in the future. The core aim of this thesis is to design a proposed model for registering Smart Property Contract Registration in Egyptian Egyptian Property Registry Office and solve the traditional registration problem of slow registration and high cost and insecure. The proposed model was proposed and implemented on the NEAR platform. Egyptian Property registration system was built using programming code for Smart Property Contract Registration written in a high-level language such as AssemblyScript and HTML, JS, and React Js programming code, and also present research uses a questionnaire study to ensure the validity of the proposed model. We conducted a questionnaire by asking a set of questions to those interested in the subject of blockchain and Smart Property Contract Registrations. The result showed that the adoption of blockchain technology in Egypt will be beneficial in terms of easy access to Property transactions in a quick time, reliability, and cost reduction.

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Arnav, Jhajharia. "The Future of Smart Contract Security: Emerging Technologies and Research Directions." Future of Smart Contract Security: Emerging Technologies and Research Directions 8, no. 10 (2023): 5. https://doi.org/10.5281/zenodo.10075012.

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Smart contracts, self-executing agreements based on blockchain technology, have gained prominence in various industries due to their automation and transparency. However, their widespread adoption hinges on robust security measures. This research paper presents an in-depth analysis of smart contract security, exploring existing best practices, auditing tools, and emerging technologies to mitigate vulnerabilities. Leveraging a qualitative research design through a literature review and secondary data analysis, the study identifies common smart contract vulnerabilities and proposes state-of-the-art security measures. Additionally, the paper discusses regulatory challenges, legal implications, and industry standards, providing key recommendations to ensure secure smart contract deployments. By understanding the evolving landscape of smart contract security, stakeholders can build more trustworthy and resilient blockchain-based applications, fostering the broader adoption of blockchain technology. 

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Yadav, Ashok Kumar, and Ramendra Kumar Bajpa. "KYC Optimization using Blockchain Smart Contract Technology." International Journal of Innovative Research in Applied Sciences and Engineering 4, no. 3 (2020): 669–74. http://dx.doi.org/10.29027/ijirase.v4.i3.2020.669-674.

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Ronoh, Hillan K. "The Status of Technology Use in Supply Chain Management in the Tea Sector in Kenya." Journal of Science, Innovation and Creativity 4, no. 1 (2025): 52–62. https://doi.org/10.58721/jsic.v4i1.1067.

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The tea industry in Kenya is a critical component of the national economy, yet traditional supply chain management faces significant challenges, including inefficiencies, lack of transparency, and limited stakeholder trust. These issues lead to problems such as fraud, counterfeiting, and payment delays, adversely affecting the efficiency and profitability of the tea supply chain. This study investigates the potential of blockchain-based smart contract technology to enhance transparency, data management, and security within the Kenyan tea supply chain. The research aimed to develop and validate a blockchain-based smart contract model tailored for the tea sector. The objectives included: (1) assessing the current state of supply chain management in the tea industry, (2) exploring blockchain's unique features that can improve supply chain management, and (3) identifying key factors influencing the adoption of blockchain technology in this context. Employing a pragmatist research philosophy and a cross-sectional survey design, the study focused on both multinational and KTDA-owned tea companies. A mixed-method approach was used, collecting data from 754 employees, with a sample size of 156. Quantitative data were analysed using descriptive and inferential statistics, while qualitative data were examined through thematic analysis. Findings indicated significant relationships between various constructs and blockchain smart contracts: ICT infrastructure (β = .488, p = .040), data integration and automation (β = .970, p = .047), collaboration (β = .843, p = .036), and security/privacy (β = .105, p = .022). The developed blockchain smart contract model serves as a foundation for implementing this technology in Kenya's tea supply chain, guiding future research on blockchain adoption across different industries.

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Olaniyi, Oluwaseun Oladeji, Samuel Oladiipo Olabanji, and Olalekan Jamiu Okunleye. "Exploring the Landscape of Decentralized Autonomous Organizations: A Comprehensive Review of Blockchain Initiatives." Journal of Scientific Research and Reports 29, no. 9 (2023): 73–81. http://dx.doi.org/10.9734/jsrr/2023/v29i91786.

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The present study aims to investigate the DAO initiative and scrutinize the diverse methodologies researchers employ for data collection in this area, highlighting any unresolved problems or limitations and suggesting approaches to enhance blockchain technology for future investigations. A remarkable blockchain initiative is the decentralized autonomous organization (DAO), a decentralized blockchain technology system that lets people self-govern through self-executing rules. The methodology is a qualitative analysis that uses contractual and business aspects to create a legally binding smart contract for DAO collaborations; thus, SPESC and Symboleo are smart-contract languages (SCL) that can involve IT and non-IT individuals in contract development. Blockchain technology has created Decentralized Autonomous Organizations (DAOs) that perform autonomously through smart contracts within their ecosystem without the necessity for centralized control or third-party intervention.

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Nguyen, Thi-Nhung. "Smart contract: Revolutionizing transactions in the digital age." HPU2 Journal of Science: Natural Sciences and Technology 3, no. 1 (2024): 30–38. http://dx.doi.org/10.56764/hpu2.jos.2024.3.1.30-38.

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Blockchain technology is a revolutionary concept that has transformed various industries, offering decentralized and secure solutions for data management. At its core, a blockchain is a distributed and immutable ledger that records transactions across a network of computers. One of the key features of blockchain is its transparency, as each participant in the network has access to the same information. The application of blockchain technology extends across diverse sectors, with finance being the most promising and well-known application domain. Cryptocurrencies, like Bitcoin and Ethereum, rely on blockchain to facilitate secure and transparent transactions. The decentralized nature of blockchain eliminates the need for intermediaries, reducing transaction costs and increasing efficiency. Beyond finance, blockchain is making significant strides in supply chain management. The emergence of blockchain technology has paved the way for a transformative innovation in the realm of digital transactions: smart contracts. These self-executing contracts encoded in blockchain have garnered significant attention for their potential to revolutionize the way agreements are made, executed, and enforced. This paper explores the concept of smart contracts, delving into the underlying technology, finding applications across various industries, legal implications, and future prospects.

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Hegedűs, Péter. "Towards Analyzing the Complexity Landscape of Solidity Based Ethereum Smart Contracts." Technologies 7, no. 1 (2019): 6. http://dx.doi.org/10.3390/technologies7010006.

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Blockchain-based decentralized cryptocurrency platforms are currently one of the hottest topics in technology. Although most of the interest is generated by cryptocurrency related activities, it is becoming apparent that a much wider spectrum of applications can leverage the blockchain technology. The primary concepts enabling such general use of the blockchain are the so-called smart contracts, which are special programs that run on the blockchain. One of the most popular blockchain platforms that supports smart contracts is Ethereum. As smart contracts typically handle money, ensuring their low number of faults and vulnerabilities are essential. To aid smart contract developers and help to mature the technology, we need analysis tools and studies for smart contracts. As an initiative for this, we propose the adoption of some well-known OO metrics for Solidity smart contracts. Furthermore, we analyze more than 40 thousand Solidity source files with our prototype tool. The results suggest that smart contract programs are short, neither overly complex nor coupled too much, do not rely heavily on inheritance, and either quite well-commented or not commented at all. Moreover, smart contracts could benefit from an external library and dependency management mechanism, as more than 85% of the defined libraries in Solidity files code the same functionalities.

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Guo, Ran, Weijie Chen, Lejun Zhang, Guopeng Wang, and Huiling Chen. "Smart Contract Vulnerability Detection Model Based on Siamese Network (SCVSN): A Case Study of Reentrancy Vulnerability." Energies 15, no. 24 (2022): 9642. http://dx.doi.org/10.3390/en15249642.

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Blockchain technology is currently evolving rapidly, and smart contracts are the hallmark of the second generation of blockchains. Currently, smart contracts are gradually being used in power system networks to build a decentralized energy system. Security is very important to power systems and attacks launched against smart contract vulnerabilities occur frequently, seriously affecting the development of the smart contract ecosystem. Current smart contract vulnerability detection tools suffer from low correct rates and high false positive rates, which cannot meet current needs. Therefore, we propose a smart contract vulnerability detection system based on the Siamese network in this paper. We improved the original Siamese network model to perform smart contract vulnerability detection by comparing the similarity of two sub networks with the same structure and shared parameters. We also demonstrate, through extensive experiments, that the model has better vulnerability detection performance and lower false alarm rate compared with previous research results.

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Kurniawan, Cipto, Angga Putrawansyah, and Tata Sutabri. "IMPLEMENTASI TEKNOLOGI BLOCKCHAIN UNTUK PENGELOLAAN DATA KESEHATAN MENGGUNAKAN METODE SMART CONTRACT." JUTECH : Journal Education and Technology 5, no. 2 (2024): 440–56. https://doi.org/10.31932/jutech.v5i2.4174.

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The development of information technology has had a significant impact on various sectors, including the health sector. This research aims to implement blockchain technology with smart contracts in health data management to create a secure, transparent, and efficient system. The methods used include needs analysis, smart contract development, and system simulation using the Ethereum platform and IPFS-based off-chain storage. Data was collected through literature studies, interviews, observations, and system simulations. The results show that the smart contract successfully automates the process of granting and revoking data access permissions, with an average transaction time of under 2 seconds. The system ensures data security through encryption, private key-based authentication, and immutable transaction records. Off-chain storage overcomes blockchain's capacity limitations for big data such as medical imaging results, without compromising privacy. However, this research faces the challenges of high transaction fees on public blockchains and scalability of the system at large user scales. This research contributes to the development of innovative solutions for health data management with full control by patients, while improving the transparency and efficiency of the system.

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Jia, Leigang, Bilin Shao, and Genqing Bian. "Cross-Chain Technology of Consortium Blockchain Based on Identity Authentication." Electronics 14, no. 6 (2025): 1185. https://doi.org/10.3390/electronics14061185.

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With consortium blockchain becoming the mainstream form of blockchain applied to various industries, the proportion of nonasset data in blockchain applications is gradually increasing. However, there is currently no cross-chain solution for nonasset data. The aim of this study is to explore the cross-chain problem of nonasset data and design a cross-chain solution that is suitable for the application scenarios of consortium blockchains. We achieved cross-chain identity authentication through an integrated distributed trust model. We then proposed cross-chain anchor nodes as alternatives to traditional routing, eliminating third-party Relay risks while ensuring secure information transmission through smart contracts. Finally, on the basis of ensuring the timeliness and reliability of data transmission, combined with the consortium blockchain organizational structure, cross-chain technology is more in line with the characteristics of data element circulation. This study provides an effective and secure solution for cross-chain interaction and application data flow in consortium blockchains through comprehensive smart contract protection mechanisms and rigorous access controls. The proposed approach is expected to promote the safe application and development of consortium blockchain technology in various industries.

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Horsch, Andreas, Enrico Seidel, and Anja Eickstädt. "Potentials and Limitations of Smart Contracts: A Primer from an Economic Point of View." European Business Law Review 31, Issue 1 (2020): 169–83. http://dx.doi.org/10.54648/eulr2020007.

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Smart contracts are an innovative contract type best described as digital and decentralized agreements which are stored on a blockchain. The automatisms included in blockchain-based smart contracts as well as their transparency and irreversibility contribute to their increasing popularity and made proponents of smart contracts suggest that they will replace traditional written contracts and become the (only) contract type in the long run. However, seminal problems prevail, including technical, legal, and also economic questions. This paper addresses the latter: Using theoretical approaches of New Institutional Economics, such as the theory of transaction cost or the theory of agency, it shows that smart contracts are no cure-all, but another (process) innovation of considerable, but not unlimited potential. Smart Contract, Blockchain, Distributed Ledger Technology, New Institutional Economics, Principal Agent Theory, Transaction Cost, Property Rights, Positive Economics, Synchronous Interaction, Datatrusted Exchange

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Kiyeng, Denies, Simon Maina Karume, and Nelson Masese. "Design of Blockchain Based Smart Contract for Tendering." International Journal of Computer Applications Technology and Research 10, no. 10 (2021): 222–25. http://dx.doi.org/10.7753/ijcatr1010.1002.

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Information technology is the backbone for all 21st century organizations that are looking forward to offer better customer service and gain competitive advantage. Today, blockchain technology is being adopted by a number of organizations such as financial services, healthcare, agriculture and even government. . However, the tendering sector have not been able to take advantage of the new blockchain technology, owing to the absence of blockchain based frameworks and a model for secure tendering. This study focuses on block-chain with its BYOE (Bring Your Own Encryption) concept in the procurement sector. The research comes up with a design of a blockchain based smart contract model for organizations in Kenya following ASD approach. In addition a discussion of challenges and opportunities of Blockchain based tendering is also presented.

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Hall, Oliver J., Stavros Shiaeles, and Fudong Li. "A Study of Ethereum’s Transition from Proof-of-Work to Proof-of-Stake in Preventing Smart Contracts Criminal Activities." Network 4, no. 1 (2024): 33–47. http://dx.doi.org/10.3390/network4010002.

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With the ever-increasing advancement in blockchain technology, security is a significant concern when substantial investments are involved. This paper explores known smart contract exploits used in previous and current years. The purpose of this research is to provide a point of reference for users interacting with blockchain technology or smart contract developers. The primary research gathered in this paper analyses unique smart contracts deployed on a blockchain by investigating the Solidity code involved and the transactions on the ledger linked to these contracts. A disparity was found in the techniques used in 2021 compared to 2023 after Ethereum moved from a Proof-of-Work blockchain to a Proof-of-Stake one, demonstrating that with the advancement in blockchain technology, there is also a corresponding advancement in the level of effort bad actors exert to steal funds from users. The research concludes that as users become more wary of malicious smart contracts, bad actors continue to develop more sophisticated techniques to defraud users. It is recommended that even though this paper outlines many of the currently used techniques by bad actors, users who continue to interact with smart contracts should consistently stay up to date with emerging exploitations.

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Yatsenko, V., B. Kovalov, O. Kubatko, M. Kharchenko, Yu Mazin, and V. Piven. "SMART CONTRACT IN BANKING FOR UKRAINE’S ECONOMY DIGITALIZATION." Vìsnik Sumsʹkogo deržavnogo unìversitetu 2022, no. 2 (2022): 92–97. http://dx.doi.org/10.21272/1817-9215.2022.2-10.

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Smart contracts are one of the digital technologies that have the potential to significantly alter the way market participants interact. It is emphasized in the research that a smart contract is a specialized computer protocol that allows negotiating parties to exchange assets between themselves: stocks, money, or property without involving a third party as an intermediary. It should be noted that smart contracts also have a wide area for use not only in the financial sector, but also in other sectors of the economy, and the global trend towards digitalization is one of the fundamental drivers of the development of this tool. The most recognizable technology for the operation of smart contracts today is blockchain. It is mentioned that blockchain guarantees the reliability and security of the concluded contracts in terms of their confidentiality, immutability, and permanence. Four basic stages of a blockchain-based smart contract were revealed. It is stated in the article that one of the most promising applications for smart contracts is the automation of the provision of banking services, such as supply chain financing, mortgage lending and small business lending. The automatic implementation of the full lending process, from application to credit risk assessment, mortgage renewals, title transfer, and mortgage servicing and securitization, can be facilitated by sharing borrower information and digital versions of multiple registries and title documents.It is emphasized that smart contracts have a number of advantages over traditional paper-based contracts. It's important to remember that no matter how advanced technology gets, there's always the risk of IT-system vulnerabilities. The future of smart contracts in banking was forecasted. Many banking processes and legal agreements will be substituted by blockchain-based finance solutions in the future; however the shift will be slow. Incumbent banking institutions are unlikely to completely relinquish control of their databases from unknown third parties. Most likely, groups of banking institutions will use authorized blockchains, and customers will only interact with trusted nodes, and not directly with the ledger.

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Kushwaha, Satpal Singh, Sandeep Joshi, and Amit Kumar Gupta. "An efficient approach to secure smart contract of Ethereum blockchain using hybrid security analysis approach." Journal of Discrete Mathematical Sciences and Cryptography 26, no. 5 (2023): 1499–517. http://dx.doi.org/10.47974/jdmsc-1815.

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The technology behind blockchain is quickly becoming one of the most crucial innovations in recent years. The Smart contracts are digital agreements, made in between two untrusted parties. Smart contracts are self-executable small piece of code that gets executed due to some predefined triggering conditions. Smart contracts store cryptocurrencies as their balances and deal in cryptocurrencies on network transactions. Because of this, smart contracts are constantly open to the possibility of being attacked. A single security vulnerability can make the smart contract very much insecure. The immutability property of the blockchain ensures that, once a smart contract has been placed on the blockchain, cannot be modified in any way. So, the smart contract must be analyzed for any kind of security vulnerability before its deployment on the blockchain. Existing analysis approaches detect vulnerabilities with high false positive rates. Our proposed approach analyses the smart contracts using a hybrid combination of pattern matching and symbolic execution, which produces results with a low false positive rate. We have performed a comparative analysis of our proposed approach to prove its efficiency with the existing research approaches on a data set of 453 smart contracts with tagged vulnerabilities.

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Abd Samad, Nor Hafiza, Nor Shamshillah Kamarzaman, Eliza Suraiya Tahir, Rukhiyah Adnan, Nurshafinas Roslan, and Mohd Akmal Mohd Azmer. "Blockchain Technology for Secure and Efficient Mobile Certificate Verification." International Journal of Computational Thinking and Data Science 5, no. 1 (2025): 1–8. https://doi.org/10.37934/ctds.5.1.18.

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Increased fraudulent certificate cases have highlighted significant weaknesses in traditional certificate verification systems. Consequently, the demand for secure, transparent, and efficient methods to authenticate genuine certificates is more urgent than ever. This paper explores the use of blockchain technology to address the inherent challenges of certificate fraud and improve the security and effectiveness of certificate verification processes. Blockchain's tamper-proof nature and decentralized architecture provide an innovative solution to combat certificate fraud. This research examines integrating blockchain technology into a mobile certificate verification system, proposing a comprehensive framework to enhance security and efficiency. Smart contracts will be utilized to automate the verification process. When a certificate is issued, a smart contract is triggered to validate the certificate against predetermined criteria. This automation reduces human intervention and increases verification efficiency. The system will be developed using solidity programming tools and Ethereum smart contracts. Experimental certificates will be created to obtain and verify the certificates, and mobile Android apps will be developed. Upon project completion, certificates generated by UPTM will be embedded and verified on the blockchain, operating as a real-time system.

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Nor Hafiza Abd Samad, Nor Shamshillah Kamarzaman, Eliza Suraiya Tahir, Rukhiyah Adnan, Nurshafinas Roslan, and Mohd Akmal Mohd Azmer. "Blockchain Technology for Secure and Efficient Mobile Certificate Verification." International Journal of Advanced Research in Computational Thinking and Data Science 5, no. 1 (2025): 1–8. https://doi.org/10.37934/ctds.5.1.18a.

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Increased fraudulent certificate cases have highlighted significant weaknesses in traditional certificate verification systems. Consequently, the demand for secure, transparent, and efficient methods to authenticate genuine certificates is more urgent than ever. This paper explores the use of blockchain technology to address the inherent challenges of certificate fraud and improve the security and effectiveness of certificate verification processes. Blockchain's tamper-proof nature and decentralized architecture provide an innovative solution to combat certificate fraud. This research examines integrating blockchain technology into a mobile certificate verification system, proposing a comprehensive framework to enhance security and efficiency. Smart contracts will be utilized to automate the verification process. When a certificate is issued, a smart contract is triggered to validate the certificate against predetermined criteria. This automation reduces human intervention and increases verification efficiency. The system will be developed using solidity programming tools and Ethereum smart contracts. Experimental certificates will be created to obtain and verify the certificates, and mobile Android apps will be developed. Upon project completion, certificates generated by UPTM will be embedded and verified on the blockchain, operating as a real-time system.

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Mollajafari, Sepideh, and Kamal Bechkoum. "Blockchain Technology and Related Security Risks: Towards a Seven-Layer Perspective and Taxonomy." Sustainability 15, no. 18 (2023): 13401. http://dx.doi.org/10.3390/su151813401.

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Blockchain technology can be a useful tool to address issues related to sustainability. From its initial foundation based on cryptocurrency to the development of smart contracts, blockchain technology promises significant business benefits for various industry sectors, including the potential to offer more trustworthy modes of governance, reducing the risks for environmental and economic crises. Notwithstanding its known benefits, and despite having some protective measures and security features, this emerging technology still faces significant security challenges within its different abstract layers. This paper classifies the critical cybersecurity threats and vulnerabilities inherent in smart contracts based on an in-depth literature review and analysis. From the perspective of architectural layering, each layer of the blockchain has its own corresponding security issues. In order to have a detailed look at the source of security vulnerabilities within the blockchain, a seven-layer architecture is used, whereby the various components of each layer are set out, highlighting the related security risks and corresponding countermeasures. This is followed by a taxonomy that establishes the inter-relationships between the vulnerabilities and attacks in a smart contract. A specific emphasis is placed on the issues caused by centralisation within smart contracts, whereby a “one-owner” controls access, thus threatening the very decentralised nature that blockchain is based upon. This work offers two main contributions: firstly, a general taxonomy that compiles the different vulnerabilities, types of attacks, and related countermeasures within each of the seven layers of the blockchain; secondly, a specific focus on one layer of the blockchain namely, the contract layer. A model application is developed that depicts, in more detail, the security risks within the contract layer, while enlisting the best practices and tools to use to mitigate against these risks. The findings point to future research on developing countermeasures to alleviate the security risks and vulnerabilities inherent to one-owner control in smart contracts.

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Rupa, Ch, Divya Midhunchakkaravarthy, Mohammad Kamrul Hasan, Hesham Alhumyani, and Rashid A. Saeed. "Industry 5.0: Ethereum blockchain technology based DApp smart contract." Mathematical Biosciences and Engineering 18, no. 5 (2021): 7010–27. http://dx.doi.org/10.3934/mbe.2021349.

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<abstract> The use of advanced technologies has increased drastically to maintain any sensitive records related to education, health, or finance. It helps to protect the data from unauthorized access by attackers. However, all the existing advanced technologies face some issues because of their uncertainties. These technologies have some lapses to provide privacy, attack-free, transparency, reliability, and flexibility. These characteristics are essential while managing any sensitive data like educational certificates or medical certificates. Hence, we designed an Industry 5.0 based blockchain application to manage medical certificates using Remix Ethereum blockchain in this paper. This application also employs a distributed application (DApp) that uses a test RPC-based Ethereum blockchain and user expert system as a knowledge agent. The main strength of this work is the maintenance of existing certificates over a blockchain with the creation of new certificates that use logistic Map encryption cipher on existing medical certificates while uploading into the blockchain. This application helps to quickly analyze the birth, death, and sick rate as per certain features like location and year. </abstract>

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Phad, Dipali. "Online Auction System Using Blockchain Technology." International Scientific Journal of Engineering and Management 04, no. 04 (2025): 1–7. https://doi.org/10.55041/isjem03227.

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ABSTRACT: Online auction platforms have revolutionized the way digital assets and products are bought and sold. However, traditional auction systems are typically hosted on centralized servers, exposing them to several vulnerabilities such as data tampering, single points of failure, and manipulation of bid values. This research paper proposes an Android-based decentralized online auction system that integrates a custombuilt blockchain ledger using the SHA-256 hashing algorithm to store all bid records securely. Unlike existing blockchain auction platforms that use smart contracts our system excludes smart contracts entirely and instead uses a simulated recharge wallet for handling virtual bid payments. Firebase is utilized as the backend database to handle authentication and real-time data sync. The system architecture promotes trustless interactions while remaining lightweight and mobile-accessible. This paper discusses the detailed architecture, blockchain logic, wallet mechanism, and the system’s realtime capability, showing its potential as a practical and secure auction platform without needing smart contracts. Keywords: Blockchain Technology, SHA-256, Online Auction, Recharge Wallet, Smart Contract Alternative

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Journal articles on the topic 'Smart contract blockchain technology'

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