Research and application of smart contract technology based on blockchain

Abstract

Smart contracts are computer trading protocols that require no intermediaries, self-validating, and automatically executing contract terms. In recent years, with the increasing popularity of blockchain technology, they have received considerable attention. Blockchain has the characteristics of distributed, tamperproof, decentralized, and historical traceability, but it is difficult to implement. The introduction of smart contract technology effectively solves this problem. Using blockchain based smart contract technology, encapsulate static contract data, including contract terms agreed upon by all parties, scenarios after contract terms are coded, coping rules, and interaction criteria between the contract and the outside world as specified by the creator, as well as between contracts. This encapsulates all smart contract invocation, execution, and communication rules for a static database of smart contracts. Innovative research on the rapid development technology of blockchain smart contracts provides basic privacy protection support for typical application scenarios of electronic data storage in Information Chain.