Blockchain smart contracts: Applications, challenges, and future trends

In recent years, the rapid development of blockchain technology and cryptocurrencies has influenced the financial industry by creating a new crypto-economy. Then, next-generation decentralized applications without involving a trusted third-party have emerged thanks to the appearance of smart contrac...

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Published inPeer-to-peer networking and applications Vol. 14; no. 5; pp. 2901 - 2925
Main Authors Khan, Shafaq Naheed, Loukil, Faiza, Ghedira-Guegan, Chirine, Benkhelifa, Elhadj, Bani-Hani, Anoud
Format Journal Article
LanguageEnglish
Published New York Springer US 01.09.2021
Springer Nature B.V
Springer
Subjects
Blockchain
Communications Engineering
Computer Communication Networks
Computer Science
Contracts
Cryptography
Digital currencies
Engineering
Information Systems and Communication Service
Legal issues
Networks
Scientific papers
Signal,Image and Speech Processing
Special Issue on Blockchain for Peer-to-Peer Computing
Taxonomy
Trends
Trusted third parties
Peer-to-peer network
Systematic review
Survey
Smart contract
Blockchain technology
Online AccessGet full text

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Abstract In recent years, the rapid development of blockchain technology and cryptocurrencies has influenced the financial industry by creating a new crypto-economy. Then, next-generation decentralized applications without involving a trusted third-party have emerged thanks to the appearance of smart contracts, which are computer protocols designed to facilitate, verify, and enforce automatically the negotiation and agreement among multiple untrustworthy parties. Despite the bright side of smart contracts, several concerns continue to undermine their adoption, such as security threats, vulnerabilities, and legal issues. In this paper, we present a comprehensive survey of blockchain-enabled smart contracts from both technical and usage points of view. To do so, we present a taxonomy of existing blockchain-enabled smart contract solutions, categorize the included research papers, and discuss the existing smart contract-based studies. Based on the findings from the survey, we identify a set of challenges and open issues that need to be addressed in future studies. Finally, we identify future trends.
AbstractList In recent years, the rapid development of blockchain technology and cryptocurrencies has influenced the financial industry by creating a new crypto-economy. Then, next-generation decentralized applications without involving a trusted third-party have emerged thanks to the appearance of smart contracts, which are computer protocols designed to facilitate, verify, and enforce automatically the negotiation and agreement among multiple untrustworthy parties. Despite the bright side of smart contracts, several concerns continue to undermine their adoption, such as security threats, vulnerabilities, and legal issues. In this paper, we present a comprehensive survey of blockchain-enabled smart contracts from both technical and usage points of view. To do so, we present a taxonomy of existing blockchain-enabled smart contract solutions, categorize the included research papers, and discuss the existing smart contract-based studies. Based on the findings from the survey, we identify a set of challenges and open issues that need to be addressed in future studies. Finally, we identify future trends.In recent years, the rapid development of blockchain technology and cryptocurrencies has influenced the financial industry by creating a new crypto-economy. Then, next-generation decentralized applications without involving a trusted third-party have emerged thanks to the appearance of smart contracts, which are computer protocols designed to facilitate, verify, and enforce automatically the negotiation and agreement among multiple untrustworthy parties. Despite the bright side of smart contracts, several concerns continue to undermine their adoption, such as security threats, vulnerabilities, and legal issues. In this paper, we present a comprehensive survey of blockchain-enabled smart contracts from both technical and usage points of view. To do so, we present a taxonomy of existing blockchain-enabled smart contract solutions, categorize the included research papers, and discuss the existing smart contract-based studies. Based on the findings from the survey, we identify a set of challenges and open issues that need to be addressed in future studies. Finally, we identify future trends.
In recent years, the rapid development of blockchain technology and cryptocurrencies has influenced the financial industry by creating a new crypto-economy. Then, next-generation decentralized applications without involving a trusted third-party have emerged thanks to the appearance of smart contracts, which are computer protocols designed to facilitate, verify, and enforce automatically the negotiation and agreement among multiple untrustworthy parties. Despite the bright side of smart contracts, several concerns continue to undermine their adoption, such as security threats, vulnerabilities, and legal issues. In this paper, we present a comprehensive survey of blockchain-enabled smart contracts from both technical and usage points of view. To do so, we present a taxonomy of existing blockchain-enabled smart contract solutions, categorize the included research papers, and discuss the existing smart contract-based studies. Based on the findings from the survey, we identify a set of challenges and open issues that need to be addressed in future studies. Finally, we identify future trends.
Author Khan, Shafaq Naheed
Ghedira-Guegan, Chirine
Benkhelifa, Elhadj
Bani-Hani, Anoud
Loukil, Faiza
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  givenname: Shafaq Naheed
  surname: Khan
  fullname: Khan, Shafaq Naheed
  organization: Zayed University
– sequence: 2
  givenname: Faiza
  orcidid: 0000-0003-4753-060X
  surname: Loukil
  fullname: Loukil, Faiza
  email: faiza.loukil@uphf.fr
  organization: Univ. Polytechnique Hauts-de-France, LAMIH, CNRS, UMR 8201
– sequence: 3
  givenname: Chirine
  surname: Ghedira-Guegan
  fullname: Ghedira-Guegan, Chirine
  organization: University of Lyon, iaelyon school of Management, University Jean Moulin Lyon 3, CNRS, LIRIS
– sequence: 4
  givenname: Elhadj
  surname: Benkhelifa
  fullname: Benkhelifa, Elhadj
  organization: Staffordshire University
– sequence: 5
  givenname: Anoud
  surname: Bani-Hani
  fullname: Bani-Hani, Anoud
  organization: Zayed University
BackLink https://www.ncbi.nlm.nih.gov/pubmed/33897937$$D View this record in MEDLINE/PubMed
https://hal.science/hal-03195972$$DView record in HAL
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ContentType Journal Article
Copyright The Author(s), under exclusive licence to Springer Science+Business Media, LLC, part of Springer Nature 2021
The Author(s), under exclusive licence to Springer Science+Business Media, LLC, part of Springer Nature 2021.
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Issue 5
Keywords Peer-to-peer network
Systematic review
Survey
Smart contract
Blockchain technology
Language English
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SubjectTerms Blockchain
Communications Engineering
Computer Communication Networks
Computer Science
Contracts
Cryptography
Digital currencies
Engineering
Information Systems and Communication Service
Legal issues
Networks
Scientific papers
Signal,Image and Speech Processing
Special Issue on Blockchain for Peer-to-Peer Computing
Taxonomy
Trends
Trusted third parties
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Title Blockchain smart contracts: Applications, challenges, and future trends
URI https://link.springer.com/article/10.1007/s12083-021-01127-0
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Volume 14
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