Smart Contract Technology Research Articles

Futures Trading Security Based on Smart Contract Technology

Futures Trading Security Based on Smart Contract Technology

SIoT identity management with the ability to preserve owner privacy and built‐in resistance to Sybil attacks

SummaryThe Social Internet of Things (SIoT) allows for more efficient and intelligent communication between entities (humans and objects). Managing the digital identity of objects, protecting the owner's privacy, and resisting impersonation attacks are crucial challenges in SIoT. On the other hand, the classic centralized identity provider servers contain valuable information for hackers and malicious parties. Effective solutions can be presented using decentralized technologies such as blockchains. This paper proposes a decentralized identity management system for SIoT based on smart contract technology. This system drives object identity control; conversely, a zero‐knowledge‐based protocol and double‐spend prevention ideas are proposed for privacy preservation and Sybil attack resistance, respectively. The central idea is to implement self‐sovereign identity (SSI) so that even certifiers are not privy to object‐sensitive information. Additionally, it attempts to prevent the owner from creating Sybil objects using the web of trust method. The method's scalability and convergence can be proven by considering all acknowledgment nodes and different paths. This method was compared with the most novel available methods; the results from this comparison depict the scalability and effectiveness of the proposed method for large networks.

Research on Smart Contract Verification and Generation Method Based on BPMN

The post-deployment challenges in developing and upgrading blockchain smart contracts necessitate a high level of accuracy in their development and business logic. However, current methodologies for verifying the business logic of smart contracts frequently fail to address their alignment with end-user business requirements. This paper introduces a two-step language transformation process to bridge this gap. Initially, we establish a transformation rule from the Business Process Model and Notation (BPMN) to Prolog, enabling the translation of business processes into a Prolog representation. This step not only validates the business process logic but also ensures it meets user specifications. Subsequently, we introduce a transformation rule from the BPMN to Go, which facilitates the transformation of the BPMN model, once validated, into a Go language smart contract. To enhance usability, we have engineered a dedicated tool that streamlines this transformation process. We present a case study involving a banking loan process to exemplify the utility of our tool in creating BPMN diagrams, conducting requirement and syntax validations, and effecting the transformation to Go smart contracts. The case study and empirical results suggest that our methodology and the accompanying tool mitigate the complexities inherent in smart contract development. They also ensure the fidelity of business logic to user demands, thereby promoting the broader adoption of blockchain smart contract technology.

MERAPATKAN JURANG PENGETAHUAN: MENGHARMONIKAN KONSEP TEKNOLOGI KONTRAK PINTAR DAN PERSPEKTIF HUKUM ISLAM

The rapid development in technology, especially smart contract technology, poses challenges in aligning its principles with the Shariah perspective. Although this technology has great potential to facilitate human affairs in various fields, including the financial, zakat and halal sectors, the gap between Shariah researchers and the understanding of this technological innovation is wide due to the complexity of smart contracts involving technical aspects and new innovations. Therefore, the purpose of this study is to explore the challenges in understanding smart contract technology from the perspective of Islamic law. A qualitative approach based on library research was applied to achieve the objectives of the study by referring to relevant documents and literature. The collected data was then analyzed using thematic content analysis methods, enabling the identification of themes and patterns in the literature related to smart contracts and Shariah principles. The results found that there is a significant gap in the understanding of smart contracts among Shariah researchers, mainly due to the technical complexities involved and limited accessibility to relevant information. To address the knowledge gap, it is important to increase access to comprehensive resources that describe the technical aspects of smart contracts along with Shariah principles. Collaboration between technologists and Shariah scholars are important to facilitate mutual understanding and bridge the gap between the two domains. Additionally, ongoing research and discourse is encouraged to refine the understanding of smart contracts within the Shariah framework.

Blockchain-based concept for total site heat integration: A pinch-based smart contract energy management in industrial symbiosis

Industrial symbiosis has gained prominence in pursuing sustainable industrial practices, aiming to optimise resource utilisation and reduce environmental impacts. A critical aspect of this endeavour is the efficient management of energy resources within an industrial ecosystem. This paper presents a novel approach to enhance Total Site Heat Integration (TSHI) implementations by employing Blockchain as a facilitator for decentralised energy management. TSHI is an efficient and widely applied method for industrial symbiosis concerning energy flows, which employs the steam mains in site utility systems as the platform for exchanging heat between industrial processes at various temperature levels. It is shown that the synergy of Pinch Analysis and Smart Contract technologies is capable of facilitating energy integration of processes belonging to independent market actors, compared with the currently dominant integration inside a single company. The proposed framework leverages Blockchain as a distributed ledger to enable secure, transparent, and automated energy management across multiple industrial entities in an industrial symbiotic network. The integration of Pinch Analysis principles ensures that the Heat Integration process is optimised to improve the overall energy efficiency. Smart contracts enable automatic negotiation and execution of energy transactions based on predefined rules, minimising the time lag for concluding deals on energy resource exchange and conservation. This paper examines several scenarios to illustrate the implementation of the proposed Blockchain-based TSHI concept within an industrial symbiosis network. It is demonstrated that up to 16 % cost savings are possible by simply enabling transparency via Blockchain. The results could drive innovative development to revolutionise decentralised energy management in a complex industrial ecosystem, especially by synchronising energy exchanges in time.

ANALYSIS OF THE USE OF BLOCKCHAIN AND SMART CONTRACT TECHNOLOGIES FOR MANAGEMENT AUTOMATION AND ENSURING BUSINESS RESILIENCE

Increasing competition, the need to enhance efficiency and transparency of business processes, as well as the requirements to ensure the security and reliability of operations, demand new tools and approaches for automating management and ensuring the sustainability of the enterprise. Currently, it is blockchain and smart contract technologies that are opening up vast opportunities for this. Therefore, the research is aimed at a comprehensive analysis of the features and directions of using blockchain and smart contract technologies for automating management and ensuring the sustainability of the enterprise. Within the research, it has been proven that the use of blockchain and smart contract technologies creates a flexible and secure process for developing conditions and strategies that allow an enterprise to function effectively and remain capable of ensuring its own progressive development even in conditions of high stochasticity, economic turbulence, or crises. It is concluded that among the main directions where the use of blockchain technologies for ensuring enterprise resilience is worthwhile, the following should be highlighted: supply chain management, balanced management, security management, and basic risk management, as well as managing relationships with customers and partners. In unity, these outlined directions establish the principles of automating enterprise management, enhance its ability to function effectively, and direct its progressive development. It is concluded that among the main directions where the use of smart contracts for ensuring enterprise resilience is beneficial, the following should be highlighted: access and security management, remote tracking of resource utilization, automation of production and commercial processes, improvement of customer service, and management of data processing workflows. In unity, these outlined directions establish the principles of enterprise management automation, guiding and expanding the enterprise's capabilities for progressive development. In the context of ensuring enterprise resilience, the goal of applying smart contracts and blockchain technologies can vary. However, the use of these outlined technological solutions should guarantee the enterprise's ability to withstand external and internal influences.

Назначение справедливых цен на основе смарт-контрактов (на примере музейной организации)

The article is devoted to the problem of ensuring fair pricing on the basis of smart contract technologies. Through the use of the Internet of Things, electronic payments and big data analysis, a more precise evaluation of consumption can be made based on measuring the time of various consumer actions. The method of research is the analysis of the decision-making process on the price, as well as the impact of modern digital technologies on it. The result of the study was the identification of the consequences of precise value in pricing and the pro-cess of concluding market agreements, including 1) the extension of the tariff payment model to the area of dis-crete sales of goods; 2) the consideration of consumers' actions as conditions of pricing and the subject of agreements; 3) inclusion of the transfer of information by consumers about themselves in the subject of ex-change; 4) reduction of transaction costs due to the automation of forced execution of contract terms. Conclu-sions are presented about the possibilities of comparing the value of goods by the time of their consumption in the sum of all human lives on the planet and the development of lean technologies for the use of limited resources for the maximum well-being of people in the world.

A Review of Blockchain-Based Research on E-Health Data Sharing

With the development of medical data informatization, the data security, data privacy, and data controllability of electronic medical data with patient's personal privacy have gained social attention. Blockchain technology has decentralized characteristics, and the development of blockchain technology provides an effective solution for the secure sharing of e-medical data. Many scholars have proposed e-medical data security sharing solutions based on blockchain technology, and these solutions have attempted to solve the security problems encountered in sharing traditional e-medical data. By summarizing and analyzing the schemes in this field, this study analyzes the advantages, disadvantages, and challenges that the current mainstream schemes have, mainly in terms of blockchain data security storage, access control security sharing, and so on, in order to promote the further development of the e-medical data security sharing scheme based on blockchain technology. This study analyzes the blockchain-based e-medical data security sharing scheme proposed by scholars by analyzing the blockchain technology, cryptography technology, smart contract technology, P2P network technology and other related topics. Through systematic analysis and comparison, it explores the challenges of the current research and provides references for the future proposals of blockchain technology-based schemes.

Blockchain and Smart Contracts Based Agricultural Supply Chain

Supply chain management (SCM), product traceability, and product quality certification are some of the initial prominent uses of blockchain technology. This is because blockchain technology is built on trust and cannot be changed. The popularity of blockchain technology is increasing as it is trustworthy and cannot be changed; hence making traceability easier for information such as where food came from, thus essential for managing the agricultural food supply chain (SC). On the contrary, suggested SCM systems premised on smart contract technology and blockchain tend to be specifically apply to production and production processes. Through qualitative research, this paper suggests framework for adoption of smart contracts based on Ethereum in the agri-food SC, with the aim to establish means to adopt blockchain for checking food quality and origins in the agri-food supply chain. Remix IDE is utilised to build and test the smart contract. The significance of the framework is realised through ensuring the traceability of product safety and quality.

Research on blockchain smart contract technology based on resistance to quantum computing attacks.

In recent years, blockchain technology has developed rapidly and has been widely used in medical, financial, energy and other fields. However, in the process of practical application, each blockchain is a small independent ecosystem, with all transactions and operations limited to the chain, resulting in a large number of mutually heterogeneous to independent blockchains. It presents challenges for cross-chain interactions, cross-organization data sharing, and cross-blockchain expansion, and hinders the wider application of blockchain technology. In addition, the traditional digital signature method based on elliptic curve cipher faces the threat of being cracked by quantum computing attacks. To solve the aforementioned problems, this paper proposed a blockchain smart contract technique based on quantum computing attack resistance(BSCTQCAT). The technique first introduces the digital signature of the lattice cipher into the blockchain to resist the quantum search algorithm attack. Then, based on the smart contract authentication scheme, the nodes on multiple heterogeneous chains are organized into an identity agent layer P2P network, through which transactions on the chain will establish a credible identity management and message authentication mechanism between different chains, solving the current problem that each chain is difficult to communicate with each other. In this paper, the performance of the algorithm is evaluated by simulating the Bitcoin transaction scenario and analyzing the experimental data.

DEVELOPMENT OF A BLOCKCHAIN PLATFORM FOR AGRICULTURAL TRADE

The article is devoted to the development of a blockchain platform, which is based on the use of smart contract technology and is designed to provide an environment for concluding transactions between agricultural producers and their buyers. Currently, the technology of a distributed registry or Blockchain has received great attention in the field of software development. In many countries, this technology has been introduced in various areas of the economy. There are a large number of companies that have set themselves the goal of understanding the options for using technology to find business development prospects, reduce costs and optimize current processes. Blockchain technology is one of the end-to-end technologies within the framework of the national Digital Economy project

Intelligent Contracts and the Principle of Contractual Freedom: A Classical Legal Examination in the Era of Emerging Technologies

The development of smart contract technology has garnered widespread attention in the legal field. This study, rooted in the principle of contractual freedom, delves into the impact of smart contract technology on the expression of parties' free will and analyzes the challenges it poses to legal rules and practices. Through a comparative analysis of smart contracts and traditional contracts, this research reveals the advantages of smart contracts in terms of contract design, execution efficiency, and transparency. While smart contract technology brings innovative changes to contract law, it necessitates profound reflections within the legal community and legal practice on how to strike a balance between free will and technological developments.

Analysis of Coercion-Resistant for E-Voting System based on Blockchain

Abstract: Election absenteeism rates are steadily rising, partly a result of the distance required to cast a vote. The use of electronic voting procedure would eliminate the need for travel and enhance voter turnout. In addition, compared to the conventional paper ballot voting technique, this reduces dangers like manipulations and produces results more quickly. A remotely electronic voting system should, nevertheless, adhere to the highest standards of security, dependability, and transparency given the significance of an election. Numerous remote e-voting systems, many of which are based on blockchain technology, were examined in this literature review. Blockchain technology provides for the removal of the Trusted Third Party (TTP) and the decentralization of transactions while also providing transparent and completely secure data storage, making it a new technical foundation for many different types of IT applications. The use of smart-contract technology, which automates and executes user agreements, is also permitted. The authors of this study examine the most insightful blockchain-based e-voting options. The lack of openness and auditability in conventional voting methods can be addressed by blockchain technology. A reliable computing platform is offered by running a self-enforcing e-voting system on a blockchain for real-time data verification

스마트 콘트랙트의 금융법적 문제와 규제 수단에 대한 검토

Recent interest rate rises and economic unrest have caused a significant contraction in the decentralized financial industry. The large-scale decline compared to the traditional institutionalized financial industry shows that the right level of financial regulation can help to revitalize the market. As such, the need for regulation in the decentralized financial industry is increasingly recognized, but the discussion is limited to the characteristics of the underlying virtual assets, and there is a lack of discussion on the technologies that form the basis of the decentralized financial industry, such as smart contract.
 There is much debate about the definition of a smart contract, but basically, a smart contract can be defined as computer code, implemented on blockchain technology, that, upon the occurrence of a specified condition or conditions, is capable of running automatically according to pre-specified functions. The origin of smart contract technology does not necessarily require blockchain technology, but the current usage and practical implementation of the term usually involves blockchain technology. These smart contracts are associated with various legal issues due to the important characteristics of (1) anonymity, (2) inconsistency between intent and code content(Similar to the issue “der Unstimmigkeiten von Willen und Erklärung”), (3) circumvention, and (4) decentralized autonomous organization.
 The existing regulatory discourse is excellent at achieving its objectives, but it has limitations in terms of (1) specificity and (2) voluntariness. A new regulatory approach needs to consider the specific characteristics of smart contract, the main transaction method of Decentralized finance, while encouraging voluntary responses from individuals. The Smart Contract Self-Review Board, Private Key Custodian Organization, and Entrusted Certification System are solutions based on these requirements, but it is difficult to judge that they completely solve the legal problems of smart contracts, and further discussion is needed on a regulatory method with an incentive structure that can attract voluntarism.

Travel Plan Sharing and Regulation for Managing Traffic Bottleneck Based on Blockchain Technology

To alleviate traffic congestion, it is necessary to effectively manage traffic bottlenecks. In existing research, travel demand prediction for traffic bottlenecks is based on travel behavior assumptions, and prediction accuracy is low in practice. Thus, the effect of traffic bottleneck management strategies cannot be guaranteed. Management strategies are often mandatory, leading to problems such as unfairness and low social acceptance. To address such issues, this paper proposes managing traffic bottlenecks based on shared travel plans. To solve the information security and privacy problems caused by travel plan sharing and achieve information transparency, travel plans are shared and regulated by blockchain technology. To optimize the operation level of traffic bottlenecks, travel plan regulation models under scenarios where all/some travelers share travel plans are proposed and formulated as linear programming models, and these models are integrated into the blockchain with smart contract technology. Furthermore, travel plan regulation models are tested and verified using traffic flow data from the Su-Tong Yangtze River Highway Bridge, China. The results indicate that the proposed travel plan regulation models are effective for alleviating traffic congestion. The vehicle transfer rate and total delay rate increase as the degree of total demand increases; the vehicle transfer rate increases as the length of the time interval decreases; and the vehicle transfer rate and total delay rate increase as the number of vehicles not sharing their travel plans increases. By using the model and method proposed in this paper, the sustainability of urban economy, society, and environment can be promoted. However, there are many practical situations that have not been considered in this paper, such as multiple entry and exit bottlenecks, multiple travel modes, and other control strategies. In addition, this paper considers only one bottleneck rather than road networks because of the throughput limitations of blockchain technology.

A critical overview of Islamic Performance Bonds

Banks might finance international trade activities, including import and export, through letters of credit and letters of guarantee (performance bonds). This contract provides a high level of safety and stability for international trade because of the banks' unwavering assurances. This research intends to determine the degree to which Islamic Shariah regulations are followed by Islamic banks' activities while outlining the challenges these institutions face while using performance bonds. This study has highlighted the performance bond issues that importers and exporters are dealing with and has proposed solutions to the issues. This research uses a qualitative and doctrinal legal approach to investigate the structure of Islamic banks in relation to Islamic economic restrictions. This study analyses the organization of Islamic banks regarding Islamic economic controls. It also examines, how far Islamic banks can benefit from the blockchain and smart contract technology to harmonize Islamic economic controls with Islamic banks' practice in such funding & guarantees instruments. Concerning the Islamic letter of credit, the findings reveal that Islamic banks face many risks resulting from the conditions and controls set by the Islamic Trade Guidelines. Therefore, Islamic banks can face more risks than conventional banks due to the nature of Islamic finance, which prohibits dealing with interest (Ribā) and conventional insurance. furthermore, the study reveals that Blockchain Technology and smart contract has a Positive Impact on Islamic banking practise.

A study of a blockchain-based judicial evidence preservation scheme

To address the challenges of low credibility, difficult data sharing, and regulatory supervision issues involving electronic evidence storage in the judicial preservation process, this paper proposes a blockchain-based judicial evidence preservation scheme. The scheme utilizes the characteristics of blockchain’s immutability to achieve credible forensics of electronic evidence on the chain and employs the decentralized storage of the interplanetary file system for secure and efficient off-chain storage. Simultaneously, it resolves the problem of declining throughput due to limited block capacity. Additionally, it leverages smart contract technology to encompass major aspects of the judicial process, including user case registration, authority management, judicial evidence uploading and downloading, case data sharing, partial disclosure of case information, and regulatory review. Simulation experiments demonstrate that the scheme significantly improves throughput and stability. Performance tests indicate that the transfer speed of the interplanetary file system can meet the data-sharing needs of judicial organizations.

Formula omitted]: A fair cross-chain atomic exchange protocol under UC framework based on HTLCs and TRE

Cross-chain transactions between heterogeneous blockchain systems pose various challenges, encompassing atomicity, security, and fairness of the transactions. While Traditional Hash Time Lock Contracts (HTLCs) can achieve atomic cross-chain transactions, they exhibit fairness deficiencies in two aspects: firstly, the transaction initiator benefits from an American Option (AO) advantage, and secondly, the transaction responder may be incentivized to launch a Draining Attack (DA), both of which impact the fairness of cross-chain transactions. Because of significant fluctuations in the exchange rate of tokens held by both parties, cross-chain transactions often face timeout rollbacks, resulting in a diminished probability of successful transactions. To tackle these issues, we propose a novel atomic cross-chain exchange protocol—HT2REP. This protocol integrates Time Released Encryption (TRE), ShangMi 3 Hash function (SM3), and scalable smart contract technologies to enhance fairness within the traditional HTLCs protocol. Additionally, HT2REP ensures atomicity, security, and a heightened probability of success for cross-chain exchanges. Finally, we demonstrate that HT2REP is Universally Composable (UC) secure.

Application of Digital RMB Smart Contracts in Grid Smart Payment Settlement

Abstract The use of smart contract technology for contract execution and real-time payment can ensure the timely availability of funds, thus ensuring the security and authenticity of data in power grid transactions. In this paper, we design a digital RMB smart contract model based on blockchain technology and use the hexadecimal model to create, deploy, and execute smart contract functions. And through the DTSC algorithm, smart contracts can be applied to the grid smart payment settlement. At the same time, a privacy protection algorithm for transaction data is proposed, and finally, the grid smart payment settlement system is designed based on smart contracts and privacy protection algorithms. Simulation test results show that the cost required for the digital RMB smart contract proposed in this paper is lower than the existing schemes in terms of invocation and deployment costs. The average chain code invocation delay in smart contract technology decreases when the transaction sending rate increases from 250TPS to 300TPS. Moreover, the on-chain operation time of this system is only 2.69 seconds, which meets the demand of practical power grid smart payment settlement applications. This paper sets the foundation for the efficient operation of the grid smart payment and settlement system and provides a guarantee for payment and settlement security.

Research on the Impact and Regulation Mechanism of Digital Currency on Economic Policy Combining Blockchain and Smart Contract Technology

Research on the Impact and Regulation Mechanism of Digital Currency on Economic Policy Combining Blockchain and Smart Contract Technology