A key component of blockchain technology is the ledger, viz., a database that, unlike standard databases, keeps in memory the complete history of past transactions as in a notarial archive for the benefit of any future test. In second-generation blockchains such as Ethereum the ledger is coupled with smart contracts, which enable the automation of transactions associated with agreements between the parties of a financial or commercial nature. The coupling of smart contracts and ledgers provides the technological background for very innovative application areas, such as Decentralized Autonomous Organizations (DAOs), Initial Coin Offerings (ICOs) and Decentralized Finance (DeFi), which propelled blockchains beyond cryptocurrencies that were the only focus of first generation blockchains such as the Bitcoin. However, the currently used implementation of smart contracts as arbitrary programming constructs has made them susceptible to dangerous bugs that can be exploited maliciously and has moved their semantics away from that of legal contracts. We propose here to recompose the split and recover the reliability of databases by formalizing a notion of contract modelled as a finite-state automaton with well-defined computational characteristics derived from an encoding in terms of allocations of resources to actors, as an alternative to the approach based on programming. To complete the work, we use temporal logic as the basis for an abstract query language that is effectively suited to the historical nature of the information kept in the ledger.
In this chapter we provide an overview of the concept of blockchain technology and its potential to disrupt the world of banking through facilitating global money remittance, smart contracts, automated banking ledgers and digital assets. In this regard, we first provide a brief overview of the core aspects of this technology, as well as the second-generation contract-based developments. From there we discuss key issues that must be considered in developing such ledger based technologies in a banking context.
We propose LazyLedger, a design for distributed ledgers where the blockchain is optimised for solely ordering and guaranteeing the availability of transaction data. Responsibility for executing and validating transactions is shifted to only the clients that have an interest in specific transactions relating to blockchain applications that they use. As the core function of the consensus system of a distributed ledger is to order transactions and ensure their availability, consensus participants do not necessarily need to be concerned with the contents of those transactions. This reduces the pro…
Distributed Ledger Technology (DLT) is promising to become the foundation of many decentralised systems. However, the unbalanced and unregulated network layout contributes to the inefficiency of DLT especially in the Internet of Things (IoT) environments, where nodes connect to only a limited number of peers. The data communication speed globally is unbalanced and does not live up to the constraints of efficient real-time distributed systems. In this paper, we introduce a new communication protocol, which enables nodes to calculate the tradeoff between connecting/disconnecting a peer in a comp…
We present Private Data Objects (PDOs), a technology that enables mutually untrusted parties to run smart contracts over private data. PDOs result from the integration of a distributed ledger and Intel Secure Guard Extensions (SGX). In particular, contracts run off-ledger in secure enclaves using Intel SGX, which preserves data confidentiality, execution integrity and enforces data access policies (as opposed to raw data access). A distributed ledger verifies and records transactions produced by PDOs, in order to provide a single authoritative instance of such objects. This allows contracting …
The decentralized exchange (DEX) leverages smart contracts to trade digital assets for users on the blockchain. Developers usually develop several smart contracts into one project, implementing complex logic functions and multiple transaction operations. However, the interaction among these contracts poses challenges for developers analyzing the state logic. Due to the complex state logic in DEX projects, many critical state derailment defects have emerged in recent years. In this paper, we conduct the first systematic study of state derailment defects in DEX. We define five categories of stat…
High availability of data is responsible for the current trends in Artificial Intelligence (AI) and Machine Learning (ML). However, high-grade datasets are reluctantly shared between actors because of lacking trust and fear of losing control. Provenance tracing systems are a possible measure to build trust by improving transparency. Especially the tracing of AI assets along complete AI value chains bears various challenges such as trust, privacy, confidentiality, traceability, and fair remuneration. In this paper we design a graph-based provenance model for AI assets and their relations within…
With a market capitalisation of over USD 205 billion in just under ten years, public distributed ledgers have experienced significant adoption. Apart from novel consensus mechanisms, their success is also accountable to smart contracts. These programs allow distrusting parties to enter agreements that are executed autonomously. However, implementation issues in smart contracts caused severe losses to the users of such contracts. Significant efforts are taken to improve their security by introducing new programming languages and advance verification methods. We provide a survey of those efforts…
This thesis proposes techniques aiming to make blockchain technologies and smart contract platforms practical by improving their scalability, latency, and privacy. This thesis starts by presenting the design and implementation of Chainspace, a distributed ledger that supports user defined smart contracts and execute user-supplied transactions on their objects. The correct execution of smart contract transactions is publicly verifiable. Chainspace is scalable by sharding state; it is secure against subsets of nodes trying to compromise its integrity or availability properties through Byzantine …
In most websites, the online rating system provides the ratings of products and services to users. Lack of trust in data integrity and its manipulation has hindered fulfilling user satisfaction. Since existing online rating systems deal with a central server, all rating data is stored on the central server. Therefore, all rating data can be removed, modified, and manipulated by the system manager to change the ratings in favor of the service or product provider. In this paper, an online rating system using distributed ledger technologies has been presented as the proposed system to solve all t…
This objective of this report is to review existing enterprise blockchain technologies - EOSIO powered systems, Hyperledger Fabric and Besu, Consensus Quorum, R3 Corda and Ernst and Young's Nightfall - that provide data privacy while leveraging the data integrity benefits of blockchain. By reviewing and comparing how and how well these technologies achieve data privacy, a snapshot is captured of the industry's current best practices and data privacy models. Major enterprise technologies are contrasted in parallel to EOSIO to better understand how EOSIO can evolve to meet the trends seen in ent…
This paper presents a system architecture to promote the development of smart transportation systems. Thanks to the use of distributed ledgers and related technologies, it is possible to create, store and share data generated by users through their sensors, while moving. In particular, IOTA and IPFS are used to store and certify data (and their related metadata) coming from sensors or by the users themselves. Ethereum is exploited as the smart contract platform that coordinates the data sharing and provisioning. The necessary privacy guarantees are provided by the usage of Zero Knowledge Proof…
A public ledger is a tamperproof sequence of data that can be read and augmented by everyone. Public ledgers have innumerable and compelling uses. They can secure, in plain sight, all kinds of transactions ---such as titles, sales, and payments--- in the exact order in which they occur. Public ledgers not only curb corruption, but also enable very sophisticated applications ---such as cryptocurrencies and smart contracts. They stand to revolutionize the way a democratic society operates. As currently implemented, however, they scale poorly and cannot achieve their potential. Algorand is a trul…
We introduce the contract service provider (CSP) model as an analog of the successful Internet ISP model. Our exploration is motivated by the need to seek alternative blockchain service-fee models that departs from the token-for-operations (gas fee) model for smart contracts found on many popular blockchain platforms today. A given CSP community consisting of multiple CSP business entities (VASPs) form a contract domain which implement well-defined contract primitives, policies and contract-ledger. The nodes of the members of CSP community form the blockchain network. We discuss a number of de…
Decentralized systems, such as distributed ledgers and the InterPlanetary File System (IPFS), are designed to offer more open and robust services. However, they also create opportunities for illegal activities. We demonstrate how these technologies can be used to launch a ransomware as a service campaign. We show that criminals can transact with affiliates and victims without having to reveal their identity. Furthermore, by exploiting the robustness and resilience to churn of IPFS, as well as the decentralized computing capabilities of Ethereum, criminals can remain offline during most procedu…
Anonymity revocation is an essential component of credential issuing systems since unconditional anonymity is incompatible with pursuing and sanctioning credential misuse. However, current anonymity revocation approaches have shortcomings with respect to the auditability of the revocation process. In this paper, we propose a novel anonymity revocation approach based on privacy-preserving blockchain-based smart contracts, where the code self-execution property ensures availability and public ledger immutability provides auditability. We describe an instantiation of this approach, provide an imp…
This paper offers a prototype of a Hyperledger Fabric-IPFS based network architecture including a smart contract based encryption scheme that meant to improve the security of user's data that is being uploaded to the distributed ledger. A new extension to the self-encryption scheme was deployed by integrating data owner's identity into the encryption process. Such integration allows to permanently preserve ownership of the original file and link it to the person/entity who originally uploaded it. Moreover, self-encryption provides strong security guarantees that decryption of a file is computa…
Chainspace is a decentralized infrastructure, known as a distributed ledger, that supports user defined smart contracts and executes user-supplied transactions on their objects. The correct execution of smart contract transactions is verifiable by all. The system is scalable, by sharding state and the execution of transactions, and using S-BAC, a distributed commit protocol, to guarantee consistency. Chainspace is secure against subsets of nodes trying to compromise its integrity or availability properties through Byzantine Fault Tolerance (BFT), and extremely high-auditability, non-repudiatio…
Blockchain technology has evolved from being an immutable ledger of transactions for cryptocurrencies to a programmable interactive the environment for building distributed reliable applications. Although, blockchain technology has been used to address various challenges, to our knowledge none of the previous work focused on using blockchain to develop a secure and immutable scientific data provenance management framework that automatically verifies the provenance records. In this work, we leverage blockchain as a platform to facilitate trustworthy data provenance collection, verification, and…
With its unique advantages such as decentralization and immutability, blockchain technology has been widely used in various fields in recent years. The smart contract running on the blockchain is also playing an increasingly important role in decentralized application scenarios. Therefore, the automatic detection of security vulnerabilities in smart contracts has become an urgent problem in the application of blockchain technology. Hyperledger Fabric is a smart contract platform based on enterprise-level licensed distributed ledger technology. However, the research on the vulnerability detecti…
Nowadays, more and more applications are developed for running on a distributed ledger technology, namely dApps. The business logic of dApps is usually implemented within smart contracts developed through Solidity, a programming language for writing smart contracts on different blockchain platforms, including the popular Ethereum. In Ethereum, the smart contracts run on the machines of miners and the gas corresponds to the execution fee compensating such computing resources. However, the deployment and execution costs of a smart contract depend on the implementation choices done by developers.…
Blockchain is a core technology to manage the value of cryptocurrencies, or to record trails of important business trades. The Smart Contract on blockchain is expected to improve security on blockchain system with automated operation, but it cannot be the solution when the application service required to operate tightly related blockchain ledgers as service business logic. This paper proposed the method to extend the functionality of traditional Smart Contract on blockchain, and introduced the prototype system, named 'ConnectionChain'.
Blockchains and smart contracts are an emerging, promising technology, that has received considerable attention. We use the blockchain technology, and in particular Ethereum, to implement a large-scale event-based Internet of Things (IoT) control system. We argue that the distributed nature of the "ledger," as well as, Ethereum's capability of parallel execution of replicated "smart contracts", provide the sought after automation, generality, flexibility, resilience, and high availability. We design a realistic blockchain-based IoT architecture, using existing technologies while by taking into…
The adoption of blockchain based distributed ledgers is growing fast due to their ability to provide reliability, integrity, and auditability without trusted entities. One of the key capabilities of these emerging platforms is the ability to create self-enforcing smart contracts. However, the development of smart contracts has proven to be error-prone in practice, and as a result, contracts deployed on public platforms are often riddled with security vulnerabilities. This issue is exacerbated by the design of these platforms, which forbids updating contract code and rolling back malicious tran…
Over the last decade there has been a continuing decline in social trust on the part of individuals with regards to the handling and fair use of personal data, digital assets and other related rights in general. At the same time, there has been a change in the employment patterns for many people through the emergence of the gig economy. These gig workers include artists, songwriters and musicians in the music industry. We discuss the notion of the data cooperative with fiduciary responsibilities to its members, which is similar in purpose to credit unions in the financial sector. A data cooper…
Quorum is a permissioned blockchain platform built from the Ethereum codebase with adaptations to make it a permissioned consortium platform. It is one of the key contenders in the permissioned ledger space. Quorum supports confidentiality and privacy of smart contracts and transactions, and crash and Byzantine fault tolerant consensus algorithms. In this paper, we characterize the performance features of Quorum. We study the throughput and latency characteristics of Quorum with different workloads and consensus algorithms that it supports. Through a suite of micro-benchmarks, we explore how c…
KindHML: formal verification of smart contracts based on Hennessy-Milner logic
Università degli Studi di Cagliari（卡利亚里大学）；Università degli Studi di Modena e Reggio Emilia（摩德纳与雷焦艾米利亚大学）；Télécom Paris, Institut Polytechnique de Paris（巴黎电信学院，巴黎理工学院）
The abundance and rich varieties of data are enabling many transformative applications of big data analytics that have profound societal impacts. However, there are also increasing concerns regarding the improper use of individual data owner's private data. In this paper, we propose PrivacyGuard, a system that leverages blockchain smart contract and trusted execution environment (TEE) to enable individual's control over the access and usage of their private data. Smart contracts are used to specify data usage policy, i.e., who can use what data under which conditions and what analytics to perf…
Blockchain is maintained as a global log between a network of nodes and uses cryptographic distributed protocols to synchronize the updates. As adopted by Bitcoin and Ethereum these update operations to the ledger are serialized, and executed in batches. To safeguard the system against the generation of conflicting sets of updates and maintain the consistency of the ledger, the frequency of the updates is controlled, which severely affects the performance of the system. This paper presents Converging Directed Acyclic Graph (CDAG), as a substitute for the chain and DAG structures used in other …
We develop a formal model of Algorand stateless smart contracts (stateless ASC1.) We exploit our model to prove fundamental properties of the Algorand blockchain, and to establish the security of some archetypal smart contracts. While doing this, we highlight various design patterns supported by Algorand. We perform experiments to validate the coherence of our formal model w.r.t. the actual implementation.
The paper presents Pluralize a formal logical framework able to extend the execution of blockchain transactions to events coming from external oracles, like external time, sensor data, human-made declarations, etc. These events are by essence non-reliable, since transaction execution can be triggered by information whose veracity cannot be established by the blockchain. To overcome this problem, the language features a first-order logic and an authority algebra to allow formal reasoning and establish accountability of agents for blockchain-enabled transactions. We provide an accountability mod…
We characterize digital cash as the digital equivalent of physical cash: secure, fungible, decentralized, directly controlled, privacy-preserving; but enhanced with qualitatively new functionality. It is extremely efficiently transferable and, most importantly, transactional or, more generally, contract-backed. This facilitates fully automated, guaranteed transactional execution of atomic resource exchanges and more complex contracts, without a multitude of intermediaries and expensive or slow semi-manual processes. A didactic objective is separating money characteristics from technology aspec…
Smart contracting protocols promise to regulate the transfer of cryptocurrency amongst participants in a trustless manner. A safe smart contract implementation should ensure that each participant can always append a contract transaction to the blockchain in order move the contract towards secure completion. To this goal, we propose Bitcoin Trace-Net, a contract verification framework which generates an executable symbolic model from the underlying contract implementation. A Trace-Net model consists of a Petri Net formalism enriched with a Dolev-Yao-like actor knowledge model. The explicit symb…
Although almost all information about Smart Contract addresses is shared via websites, emails, or other forms of digital communication, Blockchains and distributed ledger technology are unable to establish secure bindings between websites and corresponding Smart Contracts. For a user, it is impossible to differentiate whether a website links to a legitimate Smart Contract set up by owners of a business or to an illicit contract aiming to steal users' funds. Surprisingly, current attempts to solve this issue mostly comprise of information redundancy, e.g., displaying contract addresses multiple…
Blockchain's immutability can resist unauthorized changes of ledgers, thus it can be used as a trust enhancement mechanism to a shared system. Indeed, blockchain has been considered to solve the security and privacy issues of the Internet of Things (IoT). In this regard, most researches currently focus on the realization of various access control models and architectures, and are working towards making full use of the blockchain to secure IoT systems. It is worth noting that there has been an increasingly heavy pressure on the blockchain storage caused by dealing with massive IoT data and hand…
The Internet of Things (IoT) is undergoing rapid growth in the IT industry, but, it continues to be associated with several security and privacy concerns as a result of its massive scale, decentralised topology, and resource-constrained devices. Blockchain (BC), a distributed ledger technology used in cryptocurrency has attracted significant attention in the realm of IoT security and privacy. However, adopting BC to IoT is not straightforward in most cases, due to overheads and delays caused by BC operations. In this paper, we apply a BC technology known as Hyperledgder Fabric, to an IoT netwo…
Georgia Institute of Technology（佐治亚理工学院）；University of Pennsylvania（宾夕法尼亚大学）
Blockchains with smart contracts are distributed ledger systems that achieve block-state consistency among distributed nodes by only allowing deterministic operations of smart contracts. However, the power of smart contracts is enabled by interacting with stochastic off-chain data, which in turn opens the possibility to undermine the block-state consistency. To address this issue, an oracle smart contract is used to provide a single consistent source of external data; but, simultaneously, this introduces a single point of failure, which is called the oracle problem. To address the oracle probl…
In recent years, the advancement in modern technologies has experienced an explosion of huge data sets being captured and recorded in different fields, but also given rise to concerns the security and protection of data storage, transmission, processing, and access to data. The blockchain is a distributed ledger that records transactions in a secure, flexible, verifiable and permanent way. Transactions in a blockchain can be an exchange of an asset, the execution of the terms of a smart contract, or an update to a record. In this paper, we have developed a blockchain access control ecosystem t…
Blockchains provide environments where parties can interact transparently and securely peer-to-peer without needing a trusted third party. Parties can trust the integrity and correctness of transactions and the verifiable execution of binary code on the blockchain (smart contracts) inside the system. Including information from outside of the blockchain remains challenging. A challenge is data privacy. In a public system, shared data becomes public and, coming from a single source, often lacks credibility. A private system gives the parties control over their data and sources but trades in posi…
The exploitation of smart-contract vulnerabilities can have catastrophic consequences such as the loss of millions of pounds worth of crypto assets. Formal verification can be a useful tool in identifying vulnerabilities and proving that they have been fixed. In this paper, we present a formalisation of Solidity and the Ethereum blockchain using the Solid language and its blockchain; a Solid program is obtained by explicating/desugaring a Solidity program. We make some abstractions that over-approximate the way in which Solidity/Ethereum behave. Based on this formalisation, we create Solidifie…
Smart contracts are cryptographic protocols that are enforced without a judiciary. Smart contracts are used occasionally in Bitcoin and are prevalent in Ethereum. Public quantum money improves upon cash we use today, yet the current constructions do not enable smart contracts. In this work, we define and introduce quantum payment schemes, and show how to implement prudent contracts -- a non-trivial subset of the functionality that a network such as Ethereum provides. Examples discussed include: multi-signature wallets in which funds can be spent by any 2-out-of-3 owners; restricted accounts th…
There is a growing need for hardware-software contracts which precisely define the implications of microarchitecture on software security-i.e., security contracts. It is our view that such contracts should explicitly account for microarchitecture-level implementation details that underpin hardware leakage, thereby establishing a direct correspondence between a contract and the microarchitecture it represents. At the same time, these contracts should remain as abstract as possible so as to support efficient formal analyses. With these goals in mind, we propose leakage containment models (LCMs)-…
Temporary work is an employment situation useful and suitable in all occasions in which business needs to adjust more easily and quickly to workload fluctuations or maintain staffing flexibility. Temporary workers play therefore an important role in many companies, but this kind of activity is subject to a special form of legal protections and many aspects and risks must be taken into account both employers and employees. In this work we propose a blockchain-based system that aims to ensure respect for the rights for all actors involved in a temporary employment, in order to provide employees …
FinBTech: Blockchain-Based Video and Voice Authentication System for Enhanced Security in Financial Transactions Utilizing FaceNet512 and Gaussian Mixture Models
Blockchain is a form of distributed ledger technology (DLT) where data is shared among users connected over the internet. Transactions are data state changes on the blockchain that are permanently recorded in a secure and transparent way without the need of a third party. Besides, the introduction of smart contracts to the blockchain has added programmability to the blockchain and revolutionized the software ecosystem leading toward decentralized applications (DApps) attracting businesses and organizations to employ this technology. Although promising, blockchains and smart contracts have no a…
Smart contracts are programs running on cryptocurrency (e.g., Ethereum) blockchains, whose popularity stem from the possibility to perform financial transactions, such as payments and auctions, in a distributed environment without need for any trusted third party. Given their financial nature, bugs or vulnerabilities in these programs may lead to catastrophic consequences, as witnessed by recent attacks. Unfortunately, programming smart contracts is a delicate task that requires strong expertise: Ethereum smart contracts are written in Solidity, a dedicated language resembling JavaScript, and …
Blockchain has been widely deployed in various sectors, such as finance, education, and public services. Since blockchain runs as an immutable distributed ledger, it has decentralized mechanisms with persistency, anonymity, and auditability, where transactions are jointly performed through cryptocurrency-based consensus algorithms by worldwide distributed nodes. There have been many survey papers reviewing the blockchain technologies from different perspectives, e.g., digital currencies, consensus algorithms, and smart contracts. However, none of them have focused on the blockchain data manage…
With the rise of digital currency systems that rely on blockchain to ensure ledger security, the ability to perform cross-chain transactions is becoming a crucial interoperability requirement. Such transactions allow not only funds to be transferred from one blockchain to another (as done in atomic swaps), but also a blockchain to verify the inclusion of any event on another blockchain. Cross-chain bridges are protocols that allow on-chain exchange of cryptocurrencies, on-chain transfer of assets to sidechains, and cross-shard verification of events in sharded blockchains, many of which rely o…
