Recurring and Deferred Transactions Based on Smart Contracts

Abstract

ABSTRACT This article presents algorithms and smart contract designs to facilitate recurring bill payments on decentralised platforms using the Ethereum‐like Virtual Machine (EVM). The proposed approach enables the inclusion of recurring and deferred transactions, ensuring compatibility with ERC‐20 and ERC‐777 standards, thereby contributing to the establishment of a novel token standard. The research addresses the growing need for non‐custodial mechanisms to support automatic periodic payments in decentralised environments, offering potential benefits to both service providers and customers in various industries.