A Novel Approach for Smart Contracts Using Blockchain

Abstract

Despite all the advantages delivered by smart contracts deployed on top of the blockchain, several challenges are hitting the industry. Blockchain has many security and performance issues that need attention. It facilitates the interaction between two parties who can interact without a third party to accept this transaction. This leads to the creation of smart contracts that help the blockchain to execute more efficiently. A smart contract is an executable code that runs on top of the blockchain. Any modification after execution is not allowed. This causes a problem that is not solved by many scientists. This paper proposes a solution to this problem by creating a modifying blockchain that will hold all the modified data to be added to the smart contract using Ethereum. The proposed solution allows the modification to happen in a separate blockchain associated with the main blockchain containing the smart contract. This will result in faster execution, easier modifying and less used storage. Ethereum used to deploy the blockchain while deploying the smart contract requires a programing language that supports all the necessary requirements for deployment. Solidity programing language is used as it provides all the functions and operations for creation.