Representation of Smart Contracts as State Diagrams

Abstract

Smart contracts have gained popularity with the emergence of blockchain technology, although the concept behind them has been studied since the 1990s. The automation of contracts signed in real life is an interdisciplinary subject and draws attention not only in the scope of technology but also in areas like business area and legal area. With the aim of providing clear understanding, accuracy and security of information in the process of creating a smart contract, many tools have been developed, either to avoid vulnerabilities or to allow anyone to contribute in writing a contract. In view of this scenario and seeking to further facilitate the general understanding of a smart contract, this paper aims to study the representation of smart contracts as state diagrams. It summarizes, through a systematic mapping, the many ways to visually represent smart contracts as state diagrams, emphasizing their states and transitions. An experiment was also carried out in order to show how state diagrams can facilitate the understanding of a contract. The results show that state diagrams do help understanding smart contracts.