Evolution Process and Supply Chain Adaptation of Smart Contracts in Blockchain

Abstract

Because of its unique decentralization, encryption, reliability, and tamper‐proof, the block chain system makes smart contracts break through the shackles of the lack of trusted environment, and its application field keeps expanding. We read the source code and official documents of Bitcoin, Ethereum, and Hyperledger to explore the operation principle and implementation mode of smart contract. By analyzing the evolution process of smart contracts in blockchain and the sequence of its function expansion, according to the multirole business process of supply chain, we design a semipublic smart contract chain model based on Ethereum and Hyperledger in order to provide useful inspiration and help for the future research of smart contracts in blockchain applied in supply chain.