Research On Commitment-Based Blockchain Smart Contract

With the development of Internet technology,the Internet has gradually penetrated into all aspects of people's life.At the same time,the digitization of assets is becoming a trend.The digitalization of assets can allow identification,tracking,monitoring,positioning and management of personal assets.In addition,the traditional enterprise contract management system still base on paper documents and human audit.The efficiency of traditional contract management is very low,which raises the enterprise's running cost.Smart contract technology can solve the problems faced by these individuals and enterprises.The authenticity and reliability of contracts can be guaranteed by establishing contracts in the form of code and recording them to unalterable blockchains.Emerging smart contracts,however,are facing huge security risks.On June 17,2016,a hacking attack occurs on the DAO smart contract system on the blockchain,causing the loss of at least 60 million dollars.This has largely restricted the social trust in blockchain and smart contracts.This paper is aimed at the security of blockchain smart contracts,and to put forward the smart contract design based on commitment,solve some security problems in the process of using smart contracts,so as to promote the development of the smart contract technology.This paper first analyzes the security requirements of the smart contract system and summarizes the characteristics of the blockchain as the basic currency of smart contracts.On this basis,this paper puts forward an smart contract model,put forward the concrete implementation of the commitment and design smart contracts based on commitment trees.According to the model,this paper studies and designs a new blockchain protocol including the third-party certification,for which the existing security risks are analyzed.By using zero knowledge proof,user privacy is protected.Malicious users are not able to track financial accounts involved in the contracts.Finally,this paper designs a smart contract application based on commitment,and realizes a crowdfunding platform for digital assets through the framework of the smart contract model proposed in this paper.