Math behind smart contracts

Abstract

Abstract This paper presents how smart contracts are based on mathematics. Smart contracts rely on mathematics to guarantee their immutability, security, and enforceability. Cryptographic procedures that are used to safeguard and confirm the contract’s implementation, including hash functions and digital signatures, might be used to illustrate this. Mathematical approaches known as hash functions embrace an input of arbitrary size and generate a fixed-size digest or hash. It is impossible to go backwards the process and ascertain the input from the outcome since the outcome is specific to the input. Digital signature techniques are used for digitally signing smart contracts. The most well-known digital signature schemes—Schnorr, Elgamal, and Elliptic curve schemes—that are employed in smart contracts are described in this research.