PDFS: Practical Data Feed Service for Smart Contracts

Smart contracts are a new paradigm that emerged with the rise of the blockchain technology. They allow untrusting parties to arrange agreements. These agreements are encoded as a programming language code and deployed on a blockchain platform, where all participants execute them and maintain their state. Smart contracts are promising since they are automated and decentralized, thus limiting the involvement of third trusted parties, and can contain monetary transfers. Due to these features, many people believe that smart contracts will revolutionize the way we think of distributed applications, information sharing, financial services, and infrastructures. To release the potential of smart contracts, it is necessary to connect the contracts with the outside world, such that they can understand and use information from other infrastructures. For instance, smart contracts would greatly benefit when they have access to web content. However, there are many challenges associated with realizing such a system, and despite the existence of many proposals, no solution is secure, provides easily-parsable data, introduces small overheads, and is easy to deploy. In this paper we propose PDFS, a practical system for data feeds that combines the advantages of the previous schemes and introduces new functionalities. PDFS extends content providers by including new features for data transparency and consistency validations. This combination provides multiple benefits like content which is easy to parse and efficient authenticity verification without breaking natural trust chains. PDFS keeps content providers auditable, mitigates their malicious activities (like data modification or censorship), and allows them to create a new business model. We show how PDFS is integrated with existing web services, report on a PDFS implementation and present results from conducted case studies and experiments.Comment: Blockchain; Smart Contracts; Data Authentication; Ethereu

An empirical analysis of smart contracts: platforms, applications, and design patterns

Smart contracts are computer programs that can be consistently executed by a network of mutually distrusting nodes, without the arbitration of a trusted authority. Because of their resilience to tampering, smart contracts are appealing in many scenarios, especially in those which require transfers of money to respect certain agreed rules (like in financial services and in games). Over the last few years many platforms for smart contracts have been proposed, and some of them have been actually implemented and used. We study how the notion of smart contract is interpreted in some of these platforms. Focussing on the two most widespread ones, Bitcoin and Ethereum, we quantify the usage of smart contracts in relation to their application domain. We also analyse the most common programming patterns in Ethereum, where the source code of smart contracts is available.Comment: WTSC 201

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