blockchain; Ethereum; smart contracts; state of knowledge
Abstract :
[en] Ethereum is a decentralized application platform that allows users to write, deploy, and interact with smart contracts -- programs that encode financial agreements. A peer-to-peer network of mutually distrusting nodes maintains a common view of the state of all accounts and executes smart contracts' code upon request. The global state is stored in a blockchain secured by a proof-of-work consensus mechanism similar to that in Bitcoin. The core value proposition of Ethereum is a Turing-complete programming language that enables implementing complex logic in smart contracts.
Decentralized applications without a trusted third party are appealing in many areas, such as financial services, crowdfunding, and gambling. Smart contracts as a research topic contains many unsolved challenges and spans over areas ranging from cryptography, consensus algorithms, and programming languages to governance, ethical, and legal issues.
This paper is the first to summarize the state of knowledge in this field. We provide a technical overview of Ethereum and outline open challenges along with proposed solutions. We also mention alternative blockchains with Turing complete programming capabilities.
Research center :
Interdisciplinary Centre for Security, Reliability and Trust (SnT) > CryptoLUX
Disciplines :
Computer science
Author, co-author :
TIKHOMIROV, Sergei ; University of Luxembourg > Faculty of Science, Technology and Communication (FSTC) > Computer Science and Communications Research Unit (CSC)
External co-authors :
no
Language :
English
Title :
Ethereum: state of knowledge and research perspectives
Publication date :
24 October 2017
Number of pages :
16
Event name :
The 10th International Symposium on Foundations & Practice of Security