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Extending the b-it Chain to execute smart contracts

Thesis type
  • Master
Status Running
Supervisor(s)
Advisor(s)
  • Thomas Osterland

Often only noticed as a technology that enables the digital currency Bitcoin, blockchain is a novel protocol that allows the distributed and secure storing of information and untempered execution of program code in trust-less environments. Did you ever feel the intense desire to write a thesis about blockchain or do you have a slight hope that blockchain is the one-and-only topic that touches your heart? Use your chance now! We are looking forward to hear from you.

 

Students of a Blockchain Experience Lab Course of b-it at Fraunhofer FIT have implemented a full-fledged blockchain. The concept of a blockchain was decomposed in the core functional components required for the provision of services typically associated with blockchains. Hence, a starting point for a modular tool box is available now for configuring blockchain infrastructures. The purpose of this exercise is to explore functional options and implementation alternatives for different components such as consensus or transaction storage.

One natural extension is the concept of Smart Contracts as implemented in many recent blockchain technologies. They promise the automation of business processes and enable application scenarios, as dynamic market places, IOT coordination or machine-to-machine economy. Existing smart contract implementations have some drawbacks: some language constructs facilitate the introduction of security vulnerabilities while other implementations tend to be slow.

By extending our blockchain implementation b-it Chain (https://github.com/putschli/LabChain) with smart contracts, we analyze and derive a set of requirements that are essential for the implementation of a smart contract execution engine. The aim is to implement a pluggable smart contract system, that is able to execute smart contracts in parallel (to prevent slow execution), encourages formal verification and eases the application in other existing blockchain technologies.

 

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