A survey of application research based on blockchain smart contract

• Published in: Wireless networks Vol. 28; no. 2; pp. 635 - 690
• Main Authors: Lin, Shi-Yi, Zhang, Lei, Li, Jing, Ji, Li-li, Sun, Yue
• Format: Journal Article
• Language: English
• Published: New York Springer US 01.02.2022; Springer Nature B.V
• Subjects: Blockchain; Communications Engineering; Computer Communication Networks; Cryptography; Electrical Engineering; Engineering; Impact analysis; Industrial applications; Industrial development; Internet of Things; IT in Business; Networks; Original Paper; Platforms; Supply chains; Sustainable development; Wireless networks; Smart contract; Industry 4.0; Industrial internet of things; Blockchain; Blockchain Oracle; DAG-based blockchain
• ISSN: 1022-0038; 1572-8196
• DOI: 10.1007/s11276-021-02874-x

Nowadays, blockchain technology and industry has developed rapidly all over the world, which is inseparable from continuous innovation and improvement on smart contract technology. Therefore, by summarizing the working principle and application research status of blockchain smart contract, this paper analyzes the development and challenges of smart contract. Firstly, we introduce the model and operation principle of blockchain smart contract for the overall architecture, analyze the deployment process of smart contract with Ethereum, Hyperledger Fabric and EOSIO, and make a comparative analysis from the technical level. And taking Byteball, InterValue and IOTA platforms as examples, we introduce the deployment process and application potential for DAG-based blockchain smart contract. Additionally, we also summarize the application research of smart contract for international and Blockchain Oracle, and discuss its innovative application and development trend in the future. Secondly, we introduce the application status of smart contract with Ethereum and Hyperledger Fabric platforms from the aspects of financial transactions, Internet of things, medical applications, and supply chain, and further discuss EOS (enterprise operation system), Blockchain Oracle and other application fields. Furthermore, we introduce the application advantages and challenges to smart contract for industrial Internet from the fields of manufacturing, food industry, industrial Internet of things and industry 4.0. Finally, we discuss the challenges faced by smart contract with technical issues, analyzes the impact on large-scale applications and mining system on the sustainable development of smart contract, and looks forward to the future research direction of blockchain smart contract.