Abstract
In this work, we demonstrate how the blockchain and the off-chain storage interact via Oracle-based mechanisms, which build an effective connection between a distributed database and real assets. For demonstration purposes, smart contracts were drawn up to deal with two different applications. Due to the characteristics of the blockchain, we may still encounter severe privacy issues, since the data stored on the blockchain are exposed to the public. The proposed scheme provides a general solution for resolving the above-mentioned privacy issue; that is, we try to protect the on-chain privacy of the sensitive data by using homomorphic encryption techniques. Specifically, we constructed a secure comparison protocol that can check the correctness of a logic function directly in the encrypted domain. By using the proposed access control contract and the secure comparison protocol, one can carry out sensitive data-dependent smart contract operations without revealing the data themselves.
Highlights
The blockchain has aroused intensive discussions and has attracted much attention across a wide span of industries, including finance [1], healthcare [2], medical records [3], real estate [4], etc
Every node is running the smart contract on a virtual machine (VM), which makes the whole blockchain network act as a distributed VM; we provide a more comprehensive explanation
We have addressed the issue of on-chain privacy from the viewpoint of the transactions of a smart contract
Summary
The blockchain has aroused intensive discussions and has attracted much attention across a wide span of industries, including finance [1], healthcare [2], medical records [3], real estate [4], etc. Using cryptographic primitives (such as digital signatures and secure Hash functions) is one of the key characteristics of the blockchain that allows for achieving authority in a distributed network. Certain self-executing scripts called “smart contracts” reside on the blockchain, allowing workflows to be executed properly, distributively and automatically. We leverage these concepts to implement our system: an autonomous stock management system working in the domain of the Internet of Things (IoTs) [5], where the on-chain access control scheme is secured. Blockchain can be viewed as a distributed and globally shared database It is a public ledger of transactions and digital events that have been executed and shared among participating parties. Each block contains the hash of the previous block, which guarantees that no previous block or the associated contents have been changed without being noticed; blockchain can be regarded as a trustworthy platform for providing correctness and availability
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