A Logic of Blockchain Updates

Blockchains are distributed data structures that are used to achieve consensus in systems for cryptocurrencies (like Bitcoin) or smart contracts (like Ethereum). Although blockchains gained a lot of popularity recently, there is no logic-based model for blockchains available. We introduce BCL, a dynamic logic to reason about blockchain updates, and show that BCL is sound and complete with respect to a simple blockchain model

A Concurrent Perspective on Smart Contracts

In this paper, we explore remarkable similarities between multi-transactional behaviors of smart contracts in cryptocurrencies such as Ethereum and classical problems of shared-memory concurrency. We examine two real-world examples from the Ethereum blockchain and analyzing how they are vulnerable to bugs that are closely reminiscent to those that often occur in traditional concurrent programs. We then elaborate on the relation between observable contract behaviors and well-studied concurrency topics, such as atomicity, interference, synchronization, and resource ownership. The described contracts-as-concurrent-objects analogy provides deeper understanding of potential threats for smart contracts, indicate better engineering practices, and enable applications of existing state-of-the-art formal verification techniques.Comment: 15 page