Tyranny of the majority: On the (Im)possibility of correctness of smart contracts

Lin Chen, Lei Xu, Zhimin Gao, Yang Lu, Weidong Shi

Research output: Contribution to journalArticlepeer-review

4 Scopus citations

Abstract

Many consensus protocols are based on the assumption that participants are either 'good' or 'bad' but ignore the fact that they may be affected by direct or indirect economic interests involved in the corresponding smart contracts. We analyze consensus in decentralized environments and demonstrate that the system cannot guarantee correct execution results.

Original languageEnglish
Article number8425620
Pages (from-to)30-37
Number of pages8
JournalIEEE Security and Privacy
Volume16
Issue number4
DOIs
StatePublished - Jul 1 2018

Keywords

  • blockchain
  • blockchain security and privacy
  • equilibrium
  • security
  • smart contract

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