Automatic Conversion of Smart Contracts for Non-Blocking Verification

Abstract

Smart contracts are programs stored on a blockchain ledger, thus being immutable after deployment, which makes assessment of their correctness before deployment vital. Extended finite state machines (EFSM) offer a structured framework for modeling complex systems, thus providing a systematic approach to scrutinize smart contract functionalities. This paper describes a methodology to automatically convert from the abstract syntax tree of a smart contract to an EFSM model. A smart contract implementing a casino is the specific use case, and verification of the EFSM model reveals it to be blocking. This blocking represents that a malicious player can lock the funds of the casino so that they can never be retrieved.