Smart Contract in Blockchain

Abstract

Smart contract is presented as a new infrastructure for programming, deployment and execution with the rapid pace of blockchain technology in recent years. The development of blockchain technology provides a good operational basis for smart contracts, which can play an important role on the blockchain. With the rapid development of blockchain platforms such as bitcoin, smart contracts have a good opportunity for development. However, smart contract applications are still at an early stage of development, with relatively little relevant research, and the applicable scenarios of smart contracts in practical applications are not rich enough. In the paper, we study and discuss several aspects, by changing decentralization to weak-centralization, retaining appropriate supervision, and providing necessary right remedy for users of non-performance clause, can make smart contracts safe to use by compromising part of transaction efficiency.